In 2009, Obama pledged $10.5 billion towards high-speed rail development. It looks like the first state to receive some of that money will be Florida. Obama has designated $2.5 billion to the state to begin the first phase of their train system that will run from Orlando to Tampa.
Phase 1 will run along the heavily traveled I-4 corridor and take passengers to Orlando Airport, Orlando, Disney, Lakeland and Tampa at speeds above 120 mph. Phase 2 will connect Orlando to Miami by two different routes. The system will eventually connect all the major cities in the state and points in between.
The first phase will cost $3.5 billion, so after the government funds the state will still have to raise $1 billion from private investors to complete the project. Florida expects the first trains to be running by 2014.