Los Angeles ( CNN ) -- California is poised to become home to the nation 's first truly high-speed rail system with Gov . Jerry Brown 's signing Wednesday of a law authorizing the first leg of construction for a line that will eventually connect Los Angeles and San Francisco . California will issue $ 2.6 billion in bonds , with the federal government providing an additional $ 3.2 billion , to build the initial segment of the high-speed rail between Merced and the San Fernando Valley on the north side of Los Angeles , officials said . The high-speed rail project was part of a transportation bill signed by Brown that calls for general improvements to the state 's rail system involving a total of $ 4.7 billion in state funding matched with $ 7.9 billion in federal and local funds , officials said . `` This legislation will help put thousands of people in California back to work , '' Brown said at Union Station in downtown Los Angeles , according to a news release . `` By improving regional transportation systems , we are investing in the future of our state and making California a better place to live and work . '' Rail industry aims to hire 5,000 veterans in 2012 . The California High-Speed Rail Authority says the rail line initially will allow passengers to zip between San Francisco and Los Angeles via the Central Valley in two hours and 40 minutes . The line is envisioned to carry travelers between Los Angeles and San Diego in 80 minutes and , in the northern part of the state , will eventually connect to Sacramento , the authority said . In all , the 800 miles of track will include up to 24 stations , the authority said . Andy Kunz , president and CEO of the U.S. High Speed Rail Association , said the California high-speed train will travel at 220 mph . `` California will be home to the nation 's first true high-speed rail , '' Kunz told CNN . `` True high-speed rails around the world are running between 186 miles an hour to 220 miles an hour . That 's pretty much the standard in the world . '' The closest speed to the California project is Amtrak 's Acela Express in the Northeast , which averages 80 mph between New York City and Washington , D.C. , but reaches 150 mph for a few miles near Boston , Kunz said . That line is not built on a dedicated high-speed track as California 's line will be , he said . `` California leads the way for many new things in this country , whether it 's organic food or high technology or filmmaking . This will be the chance for California to lead the nation in transportation as well , '' he said . High-speed rail is n't vulnerable to the rising global fuel prices that afflict the airline industry , and it will relieve highway gridlock , he said . California Senate approves funding for high-speed rail . `` High speed is the only thing coming over the horizon that can actually give us a better future , '' said Kunz , whose nonprofit trade association seeks a 17,000-mile national high-speed rail system by 2030 . Joseph Shelhorse , the association 's vice president of business development , said his group is working with developers on private-public partnerships to build high-speed track beds in exchange for real estate development rights above and around high-speed train stations -- much as the U.S. government under President Abraham Lincoln did for the first transcontinental railroad . The California project , however , has had its share of critics , including John Tos , an almond farmer . `` We want them to stay off the land . It is not our intention to allow this to happen through our property . We farmed here for a reason , the tranquility of it all . This is farming country . And we want to keep it like that , '' he said earlier this year . Other critics are concerned about the potential for cost overruns , and question the project 's timing given the economic slump . Joe Simitian , a Democratic state senator , was among those who voted against the bill . `` The question we have to ask ourselves today is -- even if you support the vision -- is this a plan that is worthy of our support ? '' he said during debate . President Barack Obama is a big supporter of high-speed rail . His administration has proposed spending $ 53 billion on a national high-speed rail network , while he has set the goal of giving 80 % of Americans access to high-speed rail within 25 years . 'Ferrari ' train driving high-speed rail renaissance .
The current standard for high - speed rail is 160 mph to 220 mph , industry experts say . The California project will be the only U.S. line reaching those speeds , they say . California Gov . Jerry Brown signs a bill funding the first phase of high - speed rail line . The new line eventually will connect Los Angeles and San Francisco .