DALLAS – (May 18, 2016) – Central Japan Railway Co. (JRC) announced Wednesday that it will establish a fully owned subsidiary in Dallas, Texas, to support the high-speed rail project from Dallas to Houston.
The firm will station about 20 technical and operations experts in Dallas to work with Texas Central Partners, a Texas company backed by private investors that will build and manage the high-speed rail project from Dallas to Houston. Texas Central will purchase the rolling stock and systems from a consortium of equipment manufacturers and JRC will serve as Texas Central’s technology advisors during the completion of the high-speed rail project. According to Texas Central, this project is projected to create 40,000 jobs for Texans during construction. Once operational, this new industry is estimated to employ approximately 1,000 people.
Texas Central Partners plans to begin construction on the rail in late 2017 and will work closely with JRC to localize the firm’s Shinkansen bullet train technology. The project is scheduled for completion in 2021 with the first full year of operations in 2022.
“The Dallas Regional Chamber is thrilled that the Central Japan Railway Co. subsidiary will open its U.S. office in Dallas to provide technical support and critical knowledge transfer on transportation issues as Texas Central Partners continues to work on this important project,” said Dale Petroskey, President and CEO of the Dallas Regional Chamber (DRC). “This new train service will drive continued economic growth across Texas, relieve congestion along Interstate 45, and connect our business community with the Houston market in a highly efficient manner.”
“The Shinkansen High-Speed Rail operated by Central Japan Railway (JRC) has five decades of experience and a perfect safety record, which is a major reason JRC was chosen as the technology partner by Texas Central,” said Tim Keith, CEO of Texas Central Partners. “Having this office in Dallas will help ensure that the project will meet all milestones, partnering with Texans in a transformational project for our nation, our state and the region.”
The Texas Department of Transportation has estimated that nearly 50,000 Texans travel between the Dallas Region and Houston more than once per week. The high-speed train would connect the state’s two largest metro areas, which have a combined population of 14 million, in less than 90 minutes with a mid-way stop serving the Brazos Valley. The project also creates a new, transformational, and innovative industry in Texas, and this is the first of many expected announcements related to new technology and systems that will be the first of its kind in the United States.
In addition to providing expertise on technical and operational issues relating to the project, having the office located in the United States will help to ensure the project’s timely completion and also support efforts to finalize the project’s regulatory efforts related to technology and safety.
In announcing the establishment of the subsidiary, High-Speed-Railway Technology Consulting Corporation (HTeC), Central Japan Railway President Koei Tsuge remarked, “By establishing the subsidiary company, JRC believes we will be able to support the Texas high-speed rail project by providing as much technical support as possible in a timely manner.”
The announcement by JRC builds upon other recent announcements of Japanese-based companies, such as Toyota and Kubota, selecting the Dallas Region as home to its U.S.-based operations.
“The DRC was pleased to provide support to Central Japan Railway and Texas Central in consideration of a Dallas location. As we build on our recent successes in economic development, we will focus on ways to raise our international profile even further and to create new business opportunities that will benefit the entire Dallas regional economy for generations to come,” said Mr. Petroskey.
In April 2016, Texas Governor Greg Abbott signed a Memorandum of Understanding (MOU) with Hideaki Ohmura, governor of the Aichi prefecture in Japan, which expressed the shared desire improve ties between Texas and Aichi and to cooperate in areas such as economic exchange, culture, academic endeavors and workforce development.
In the spirit of that MOU, Dallas/Fort Worth International Airport will lead a business mission trip to Japan in November that will include the Mayors of Dallas and Fort Worth and members from the DRC, the Fort Worth Chamber, the Dallas Convention and Visitors Bureau, and the Fort Worth Convention and Visitors Bureau.
ABOUT THE DALLAS REGIONAL CHAMBER
The Dallas Regional Chamber is the voice of business and the champion of economic growth and development in the Dallas Region. Our mission is to make Dallas the best place in America to live, work, and do business. We work with 1,200 member companies to strengthen our business community by advocating for pro-growth public policy, improving our educational system, attracting the best and brightest workers from around the world, and enhancing the quality of life for all in the Dallas Region. The DRC is a not-for-profit organization comprised of businesses, which represent all facets of the Dallas Regional business community. For more information, please contact the DRC at 214.746.6600 or visit www.dallaschamber.org.
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