JEFFERSON CITY, Mo. — Missouri elected officials and business leaders are teaming up to study the possibility of connecting Kansas City and St. Louis with an ultra-high-speed Hyperloop system.
Republican House Speaker Elijah Haahr announced the formation of the panel Tuesday. The panel will be looking at how to fund a Hyperloop, as well as the cost-benefit predicted for the system. Haahr would like the members to present their findings by September.
"If it is going to be so transformative over the next century, in my opinion, Missouri wants to be the leader in this," Haahr said in a phone interview with 41 Action News.
Hyperloop technology involves a tubular track through which a train-like pod carries passengers at speeds up to 640 mph.
WATCH: 41 Action News travels to Las Vegas to see the Virgin's Hyperloop One.
It's not cheap, however. Some estimates have put the cost at $25 million to $27 million per mile, excluding land acquisition.
"It's going to be a big investment, but it's a very important investment," said Ryan Weber, who has been helping lead the Missouri Hyperloop Coalition. "It's a way more effective use of that money than adding another lane (to I-70)."
Republican Lt. Gov. Mike Kehoe will lead the new group. Other members include state lawmakers, Economic Development Director Rob Dixon, University of Missouri System President Mun Choi and Andrew Smith of the St. Louis Regional Chamber.
41 Action News reporter Ariel Rothfield contributed to this story.
