The U.S. is set to build its first magnetic train line that moves with the help of electromagnets, Reuters reported. The Florida Department of Transportation (FDOT) approved the more than $300 million project proposed by Georgia-based American Maglev Technology. The company will also head the construction. In the next step toward construction of the railway, FDOT gave American Maglev Technology the chance to lease rights of way between the points of the railway located in Orlando, Orlando Business Journal reported. The first phase of the train line will stretch 40 miles with the train transporting people between Orlando International Airport and the Orlando/Orange County Convention Center.

In late 2013, American Maglev Technology won the right to build the railway, which will use a steel guide rail and 24 electromagnets to levitate the train and propel it to its destination. With service to the Walt Disney World area, the state expects the train line could help transport tourists instead of having them rely on congested roadways. Jordan Morris, the company's chief operating officer, said the train can carry up to 4.1 million passengers a year.

Magnetic rail could be operational by 2017
American Maglev Technology said its transit technology has the benefit of producing no carbon emissions. The train is designed travel along the rail more than 35 mph, according to the company's site, but the proposed transit system may be even faster than that. In addition to generating environmental benefits, the magnetic train system could save millions in costs.

"The five train system would operate 365 days per year, 20 hours a day on 10 minute headways, with a peak hour capacity of 1,320 persons," the FDOT report, referencing the company's proposal, said. "While the top speed is 50 mph, the estimated travel time is 30 minutes, with an estimated annual operations and maintenance (O&M) cost of $9.1 million."

American Maglev Technology is expected to finalize the agreements before raising investments and building the new system. After the U.S.'s first magnetic railway is finished and online by 2017, this magnetic train technology could spread to the rest of the nation.

"This is a major milestone for us and for Central Florida," Morris said, according to Orlando Business Journal. "Soon, the world will come to Orlando to see what's next in mobility for the rest of this century. In so doing, a whole new green high-tech industry with good-paying jobs will be created for our country, centered right here."