(The following story by Richard Wronski appeared on the Chicago Tribune website on December 3.)
CHICAGO — The Chicago area’s economy would grow by more than $60 million a year, freight traffic gridlock would ease, and hundreds of jobs would be created if the Canadian National Railway is allowed to divert freight traffic onto a suburban rail line, according to a new study.
The CN plan also would relieve highway congestion in northeastern Illinois and boost the nation’s gross domestic product by $267 million, according to the study to be released Wednesday by Chicago Metropolis 2020.
“Speeding rail traffic will reduce the cost of operating businesses, lower the cost of goods to consumers and relieve congestion on our highways,” said George Ranney, president and chief executive officer of the business-backed civic group.
“We believed the CN plan to purchase the EJ&E would produce those kinds of benefits, and this thorough examination by outside experts explains how important it is for our region’s economy.”
The study comes just as residents in dozens of suburbs await the release of a final environmental impact report this month on CN’s proposed $300 million purchase of the Elgin, Joliet & Eastern Railway. The deal is pending federal approval.
Aurora Mayor Tom Weisner, who opposes the CN deal, dismissed the economic report, saying it was an attempt by Metropolis 2020 to justify the group’s support of the CN purchase.
One of the staunchest opponents of the CN deal, the Village of Frankfort, agreed Monday to begin negotiations with the railroad to lessen the impact of up to 28 trains a day running through town.