As part of a delegation of Black and Brown business leaders and civil rights advocates, I had the privilege to join a group focused on learning about the significant minority business opportunities tied to Northeast Maglev’s $4 billion pledge to Minority and Women-Owned Businesses (MBEs). This trip marks a crucial step in preparing the minority business community for active participation in a project that promises to revolutionize transportation through high-speed rail between Washington, DC, Baltimore, and eventually New York. With an intensive itinerary that included tours of manufacturing facilities, construction sites, and a ride on the Maglev at 311 mph, this experience provided valuable insights into how the $10 billion infrastructure for the Maglev train project could shape the future of the Northeast Corridor and impact cities and local communities along the route.
One of the most impactful aspects of the Maglev project is its potential to make travel through one of the world’s largest metropolises easy, safe, and convenient, while also serving as a catalyst for growth in various industry and business sectors. The potential impact on Baltimore City could be significant, leading to increased tourism and convention business from cities along the East Coast Corridor. Enhanced ease of travel to and from BWI Thurgood Marshall Airport will make the city more accessible, attracting more visitors and boosting the local economy. This ease of travel might also draw talent from other cities due to the improved commuting options, providing greater opportunities for businesses to attract additional skilled workers.
Baltimoreans could see a rise in job opportunities as the city becomes more appealing for corporate headquarters. This could lead to increased homeownership, as Baltimore’s unique neighborhoods continue to attract new residents. Local businesses would also benefit from expanded economic opportunities as a result of this potential growth.
In the long term, career and business prospects look promising. A substantial $4 billion has been committed to engaging Minority and Women-Owned Businesses, which is expected to spur significant economic activity. The project is anticipated to create over 160,000 jobs, generating nearly $9 billion in earnings for the region. Career opportunities in the industry would include roles for 1,500 project managers, engineers, maintenance workers for substations and control towers, and ongoing operations staff.
How can you or your business learn more about being part of this $4 billion MBE initiative? Another outreach event is being planned to be hosted in Prince George’s County this September, featuring a panel with participants from this trip who will share their observations. For more information and updates on the project, visit www.northeastmaglev.com.
What does success look like for Minority and Women-Owned Businesses and the Black community? Success, in this context, will be measured by the community’s involvement, the economic development opportunities for local businesses, career prospects for residents, and the overall positive impact on the communities along the corridor.