President Donald Trump is asking Congress to approve $1.4 billion in economic development subsidy money for Belmont development, including for a $250 million water-filtration plant and a $200 million high-speed rail line that would bring the region to Washington D.C. according to his budget request for fiscal year 2019.
The president’s budget for fiscal 2018 also includes a $1 billion economic development program that will include $300 million for water-treatment plants and $150 million for high-frequency rail for the Belmont corridor.
Trump has said the Belmec plant will be the biggest in the country.
He also says the Belmopan rail project would bring hundreds of jobs and tens of thousands of jobs to the area.
Belmont Development Corporation president Mike Fucher told The American Conservatives on Monday that the project has been in the works for more than five years, adding the company has “been engaged with the project since 2015.”
“It’s been a very difficult and complicated process, and we are pleased to see that the President’s budget request is now fully funded and we will continue to work with the Belmar Development Corporation to make this project a reality,” Fuccher said.
The project is being funded by federal and state grants and tax credits that Trump signed into law in January.
The White House said in March that Trump plans to sign a bill funding the project later this month.