The Florida high speed rail project will have a significant impact on the state of Florida, creating thousands of job opportunities, stimulating economic development, serving and encouraging tourism, and providing increased transportation capacity. Two economic impact assessment models were initially used to determine the economic impacts on the state of Florida of implementing the Florida high speed rail project. The first model was the US Department of Commerce, Regional Input Output Modeling System which is a static model. The other model is a dynamic, integrated input output econometric model, Regional Economic Model, Inc. Investments in transportation represent significant economic benefits to the community through the movement of people and goods. Traveler benefits are estimated by comparing the forecasted performance of the proposed system with the forecasted performance of auto and air modes. Estimates are developed from the ridership forecast and the comparative performance of the modes.