$20B investment for FY22 Transit acquired:

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FY22 Transit acquired

There are now over $20 billion dollars available in new investments for the transit industry. On April 6th the FTA released a series of tables for its 30 programs including new grants that would raise funding for programs in the rail industry by over 23% on the previous year.

Some of the initiatives that are covered under this new funding included:

– $893 million for Rural Area Formula Grants

– $422 million for the Enhanced Mobility of Seniors and Individuals with Disabilities Program

– $45 million to support Transit Programs run by Tribal Governments

This newfound funding is a result of the American Rescue Plan which was passed in March. This act set aside funds specifically for public transportation in order to help with pandemic-recovery efforts and stimulate the economy.

The latest funding will go into railway lines and light railway lines across the nation and improve public transit sectors considerably. In areas where there has been little to no investment in the past, this could be a transformative moment. It could also help to bring back jobs that were lost during the pandemic as the transit industry starts to rebound.

The notices of funding opportunities are listed on the main website and there are a number of new public transit opportunities happening across the USA that will result in more American jobs,  increased safety, and a better quality of life for all.

As these plans for investment fall into place, it will be interesting to see  how much of an impact this funding will have in the long term. It could potentially be a game-changer for the transit industry as a whole. We will be following this investment closely to see how it shapes the future of the US rail industry.

For nearly half a century, Swartz Engineering has been at the forefront of industry safety. They are a family-owned company specializing in power distribution for the electrical industry. They are the leading manufacturer of mobile substation.

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