Fact Sheet regarding Corridor Capital LLC’s selection as Preferred Vendor for Indiana’s Hoosier State route starting February 1, 2015

October 9, 2014

  • Under the 2008 Passenger Rail Investment & Improvement Act (PRIIA), states that support Amtrak passenger-train service are allowed to seek bids from private contractors offering to reduce the states’ losses and increase their revenue. Indiana chose Corridor Capital as its private-sector contractor for the Indianapolis-Chicago Hoosier State service in June 2014. Amtrak agreed to continue operating the train for Indiana until February 1, 2015, in order to provide the State with the time needed to complete preparations for the transition.
  • Indiana’s selection of Corridor Capital to manage and develop the Hoosier State was carried out by a four-person committee that followed a rigorous, dynamic process to evaluate bids submitted by four private-sector companies. The results of this bidding process can be viewed on INDOT’s Web site and here.
  • PRIIA gave the states authority to seek lower-cost solutions from the private sector because the same legislation mandated that, after September 30, 2013, Amtrak no longer could subsidize state-supported trains and that 100 percent of Amtrak’s cost of providing such service, including rental of Amtrak’s locomotives, cars and reservations capacity, must be covered either by passenger fares or by a combination of passenger fares plus a subsidy from the state. In choosing Corridor Capital, Indiana became the first state in the nation to exercise its new authority to manage its train service through a public-private partnership.
  • Corridor Capital LLC continues to negotiate with INDOT, the State of Indiana and the cities along the Hoosier State route to conclude an agreement that will provide the highest level of service to all parties starting on February 1, 2015.
  • On October 1, 2014, Amtrak CEO Joseph H. Boardman announced improvements in the temporary extension of the Hoosier State, including Wi-Fi, business class, and a café car. These services are covered by the 3 percent increase in service costs for the four-month extension.
  • On February 1, 2015, when Corridor Capital LLC becomes manager for the Hoosier State route, it will retain the three upgrades improvised by Amtrak while introducing additional improvements including upcycled rolling stock designed for genuine intercity passenger service, new ADA-compliant rest rooms, electronic passenger-information screens, new carpeting, luggage towers, leather-upholstered reclining seats and 120-volt electrical outlets at each seating position.
  • Senior members of the Corridor Capital LLC leadership team have been working with Amtrak for more than 30 years. Chairman Jim Coston is a previous member of the Amtrak Reform Council from 2000-2002, having been appointed by former U.S. Senate Majority Leader Tom Daschle.
  • Corridor Capital LLC was founded in 2005 with a vision to provide the nation’s passenger-train operators with the requisite capital to expand their fleets and fixed facilities. For more information on this project, please visit the Hoosier State route section of our website or contact us directly.

Printable: Hoosier State Route Corridor Capital Fact Sheet October 2014 (PDF, 1 page)

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