The legislature has agreed to provide 25% of yearly cap and trade proceeds for High Speed Rail. This could be as much as $1b per year starting next year with $250m budgeted for this year.
Transit will receive another 15%. That means 40% for transportation, mostly rail. It will mean BILLIONS of dollars starting next year.
This is a long term and strong commitment to rail in California and it means that the California High Speed Rail will operate in California earlier than thought. We are proud of this outcome, that took months of hard work and many conversations, and we want to thank Governor Brown and the legislators for their work in solving the different challenges for this mega-project to become a solid reality.
This is a great opportunity for European experienced companies involved in transportation and infrastructures. Construction, engineering, technology, operations, ticketing, manufacturing, finance, etc... Please, send us letters of support to this project, as well as if you are interested in getting involved, lets have a conversation. Just send us an email and we can arrange a conference call with our California team.
On June 10th, Obama signed the $12.3 billion dollar Federal water bill. This will be in addition to the California state measure forecasted to be $8-10b.
The California state legislature has finally agreed on a water ballot to be placed on the November ballot. The amended bond provides $10.5 billion in funding for projects that will address California's critical needs, including:
• $500 million for urgent drinking water treatment for communities that do not currently have access to safe water;
• $1 billion for critically needed groundwater treatment projects;
• $400 million for wastewater treatment to protect California's rivers, streams and beaches;
• $900 million for community-supported habitat restoration in the Delta;
• $400 million for Delta levee stability funding to reduce the risk of levee failure due to flood, earthquake and sea-level rise;
• $1.9 billion for drought response and regional water supply development, including water recycling, desalination, and water conservation;
• $3 billion for additional surface and groundwater storage;
• $500 million for stormwater reuse and capture; and
• $925 million for watershed restoration throughout California.
European American Enterprise Council Events
SAN DIEGO MEETS EUROPE - June 22nd. Panel, Pitch, Showcase and Networking. This event is the Transatlantic kickoff Party for the Bio International Convention, June 23-26, San Diego.
California Infrastructures Trade Mission for European Companies. July 13th-16th
USADIRECT - A trade mission just for you. You choose the dates, you will interact with the industry key players, authorities and project officials.