• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Techhyperloop

Transportation Secretary Says Hyperloop Could Get Government Funding

By
David Z. Morris
David Z. Morris
Down Arrow Button Icon
By
David Z. Morris
David Z. Morris
Down Arrow Button Icon
January 30, 2016, 12:31 PM ET
Sec. Anthony Foxx at Hyperloop Competition
Sec. Anthony Foxx at Hyperloop CompetitionGabriel Chmielewski - Texas A&M

U.S. Transportation Secretary Anthony Foxx said Friday that the Hyperloop, a futuristic transportation concept involving levitating pods, may be a candidate for research funding from his department.

Secretary Foxx’s said the money could come from his department’s University Transportation Centers program for research into new ways of getting around. That program gives grants to over 30 research centers nationwide totaling up to $72.5 million annually.

Foxx’s comments, made at the SpaceX Hyperloop Design Weekend in College Station, Tex., got a warm reception at the event, a conference and competition for college students working on Hyperloop prototypes. The Hyperloop, as outlined in a 2013 paper by SpaceX and Tesla founder Elon Musk, would transport passengers or freight in pods levitating through a low-pressure, tube-like track at up to 700 miles per hour. Musk has described it as a “cross between a Concorde and a railgun and an air hockey table.”

Get Data Sheet, Fortune’s technology newsletter.

“This is a special moment in transportation,” Foxx said to hearty applause. “We weren’t around when the airplane was invented. We weren’t around when the wheel was invented.”

But, shortly after comparing a still very speculative idea with the advent of the wheel, Foxx brought the audience back to earth about the still unrealized Hyperloop dream. “There’s a lot of research that still needs to be done. It’ll be a while before we see something like this on the ground.”

In fact, Foxx admitted that he had been a Hyperloop skeptic. “When I first heard about the Hyperloop, I was less than enthusiastic. I had a lot of reservations,” he said.

But Foxx came around to a more upbeat viewpoint—not necessarily because he had been sold on the Hyperloop itself, but because of a more general desire to promote innovation. “Government must resist the urge to reflexively say no,” Foxx said. “We’re looking to play a constructive role in embracing new technologies.”

The Department of Transportation and the Obama administration have recently put that sentiment into action with $4 billion in funding for self-driving car research.

But despite Foxx’s enthusiasm, the potential pool of federal funding for Hyperloop technologies is relatively small. Hyperloop Tech, one of the startups trying to build a working Hyperloop system, has already raised around $80 million from private sources.

For more on the Hyperloop, watch our video.

Foxx went on to draw attention to more immediate solutions to mounting strains on the U.S. transportation system, including the need to shift away from a current system he described as “road dependent” toward something more diverse.

“Transportation choice has to be part of the future.”

About the Author
By David Z. Morris
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

$12 billion crypto company boss says Gen Z ‘create an absurd amount of chaos’ and make him want to pull his hair out—but he’s betting on them anyway
SuccessGen Z
$12 billion crypto company boss says Gen Z ‘create an absurd amount of chaos’ and make him want to pull his hair out—but he’s betting on them anyway
By Orianna Rosa RoyleApril 12, 2026
56 minutes ago
mueller
CommentaryEntrepreneurship
I grew up in a family of entrepreneurs. Here’s what I had to unlearn to build a $1 billion business
By Samuel MuellerApril 12, 2026
1 hour ago
grantham
Investingbubble
Legendary investor says the AI boom masks a deeper crisis: Falling sperm counts, shrinking populations, and vanishing resources
By Nick LichtenbergApril 12, 2026
1 hour ago
Wemimo Abbey and Samir Goel, the cofounders of fintech company Esusu
SuccessCareers
These cofounders quit corporate jobs, took on $100K in credit card debt, and slept in a Denny’s—now their $1.2B company is backed by Serena Williams
By Emma BurleighApril 12, 2026
2 hours ago
Born in Soviet Union, Grindr CEO was told he had two career options: Learn English or how to shoot a gun
SuccessThe Promotion Playbook
Born in Soviet Union, Grindr CEO was told he had two career options: Learn English or how to shoot a gun
By Orianna Rosa RoyleApril 12, 2026
3 hours ago
These startups are racing to make AI safe for the Pentagon’s most closely guarded secrets
AIDefense
These startups are racing to make AI safe for the Pentagon’s most closely guarded secrets
By Erik GermanApril 11, 2026
1 day ago

Most Popular

'This is the last warning.' Iran threatens U.S. warships after they throw down the gauntlet for winner-take-all Strait of Hormuz
Politics
'This is the last warning.' Iran threatens U.S. warships after they throw down the gauntlet for winner-take-all Strait of Hormuz
By Fortune EditorsApril 11, 2026
14 hours ago
Palantir CEO says AI ‘will destroy’ humanities jobs but there will be ‘more than enough jobs’ for people with vocational training
Future of Work
Palantir CEO says AI ‘will destroy’ humanities jobs but there will be ‘more than enough jobs’ for people with vocational training
By Fortune EditorsApril 11, 2026
1 day ago
The 'affordability economy' has created a housing market nobody predicted: Prices collapsing in the Sun Belt, soaring in the Rust Belt
Real Estate
The 'affordability economy' has created a housing market nobody predicted: Prices collapsing in the Sun Belt, soaring in the Rust Belt
By Fortune EditorsApril 11, 2026
1 day ago
Warren Buffett says 'accumulating great amounts of money' doesn’t achieve greatness—He still lives in a $31,500 Nebraska home and clipped coupons
Success
Warren Buffett says 'accumulating great amounts of money' doesn’t achieve greatness—He still lives in a $31,500 Nebraska home and clipped coupons
By Fortune EditorsApril 11, 2026
1 day ago
Navy tests Hormuz blockade as expert says U.S. military prepares for round 2 and could degrade Iran's hold over the strait to a 'manageable level'
Politics
Navy tests Hormuz blockade as expert says U.S. military prepares for round 2 and could degrade Iran's hold over the strait to a 'manageable level'
By Fortune EditorsApril 11, 2026
20 hours ago
Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
Success
Scottie Scheffler joined Tiger Woods and Rory McIlroy in golf's $100M club—and donated his entire Ryder Cup stipend to charity
By Fortune EditorsApril 10, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.