Financial structuring woes have pushed back the start date for construction of high speed rail connecting Las Vegas and California. Virgin Trains USA was prepared to begin their $4 billion rail project next year, but could not with their current liabilities and funding.
Seeking tax abatements, the company had hoped to mirror the success of Florida which had long postponed their own rail projects. However, Floridians are currently reaping a surge of economic growth which came as a result of forward progress in high speed rail.
It is estimated that the delays will push construction back a minimum of two years, or until such time as funding is secured.