Hyperloop Transportation Technologies' Great Lakes Study Preview Feasible and Highly Profitable
CLEVELAND, Nov. 19, 2019 /PRNewswire/ --
- HyperloopTT & Northeast Ohio Areawide Coordinating Agency revealed a first-look at the results of the Great Lakes Hyperloop Feasibility Study, conducted in collaboration with third-party transportation planning firm Transportation Economics & Management Systems, Inc.
- The study determined that the HyperloopTT system connecting Cleveland, Chicago, and Pittsburgh is both feasible and of great economic benefit regionally
- Key findings conclude:
- Operational costs that require no subsidies
- Travel times that reduce hours to minutes
- Over 900,000 jobs created over twenty-five years
- Tens of billions of dollars in economic benefit throughout the region including increased real estate values, wages, and expanded tax base growth over a period of twenty-five years (infographic/summary)
- Decrease in carbon emissions by 143 million tons
- The study is the most comprehensive of its kind involving interstate agencies in Ohio, Illinois, and Pennsylvania with over 80 regional public and private organizations involved in the study as part of the Great Lakes Hyperloop Consortium
At a public town hall meeting today, Hyperloop Transportation Technologies (HyperloopTT) revealed the first results for the most comprehensive hyperloop study done to date. The Great Lakes Hyperloop Feasibility Study was conducted alongside award-winning metropolitan planning organization Northeast Ohio Areawide Coordinating Agency (NOACA) and leading third-party engineering firm Transportation Economics & Management Systems, Inc. (TEMS).
The results of the study, conducted over 1.5 years, involved close collaborations with both Illinois and Pennsylvania. Additionally, the Great Lakes Hyperloop project attracted over 80 public and private organizations who provided support and resources to the study. The undertaking represents the most advanced and detailed work done to bring hyperloop to reality anywhere in the world.
"The results of the study have surpassed even our most optimistic considerations," said HyperloopTT founder and chairman, Dirk Ahlborn. "Working closely with our government and industry partners we have shown that Hyperloop is the high-speed transportation system of choice for the 21st century."
"The Great Lakes Hyperloop Feasibility Study is the most comprehensive study of a Hyperloop system ever conducted," said Andres De Leon, CEO of Hyperloop Transportation Technologies. "The study confirms that the HyperloopTT system is faster, less expensive, and more sustainable than alternatives."