MIAMI (CBSMiami) – It’s expensive, but the All Aboard Florida speed train from Miami to Orlando airport is also expected to generate nearly 36,000 jobs during the two years it will take to build it.

On Tuesday, the company took a big first step in turning its $1.5 billion plan into reality when transportation officials gave it the go ahead to begin lease negotiations for the land needed to complete the northern portion of the line, the South Florida Business Journal reports.

All Aboard Florida, a subsidiary of Miami-based Florida East Coast Industries, must build 35 miles of new track from Cocoa to Orlando airport. The Florida Department of Transportation and the Orlando-Orange County Expressway Authority (OOCEA) have authority over the necessary right-of-way corridor, which runs along State Road 528.

The speed train could begin construction as early as 2013. The proposal given to the agencies includes documents that indicate its completion is slated for the end of 2015, which means the high-speed train would not be up and running until the following year at the earliest.

All Aboard Florida was the only company to bid on the project.

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