|New railroad authority being discussed in Rapid City|
|Wednesday, 29 August 2012 12:14|
The proposed Rushmore Regional Rail Authority would allow for money from the State Rail Trust to be given to local and regional authorities, and from there, be lent to private companies who want to develop local rail infrastructure on industrial sites.
The president of Rapid City Economic Development says establishing the local rail authority would bring jobs to the area and help strengthen the local economy.
Benjamin Snow says, "The big benefit, the reason I'm having this discussion is because we look at it as a key to diversifying our economy is to develop more office and industrial employment opportunities. Most rail served industrial sites come with them employees, and we'd like to see that type of development in Rapid City."
The Rapid City Legal and Finance Committee authorized exploring the option of a rail authority with both Pennington County and Box Elder. If all of the entities agree to move forward, an authority could be established within the next year.