Chicago (pictured) may become the hub of a Midwestern high-speed rail corridor.

Representatives of eight Midwestern states -- Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio and Wisconsin -- met in Chicago Monday with other state and local officials to sign a memorandum of understanding that will coordinate each state's application for ARRA funding for the Chicago Hub High-Speed Rail Corridor. "A nationwide network of high-speed rail with Chicago as hub is a vital component of the new economy that will emerge from this recession," said Chicago Mayor Daley. "High speed rail will help us in the challenging task of bringing new businesses, new industries and new opportunities to our region to create new jobs, not just replace those that have already been lost."

Participants agreed to establish a multi-state steering group to coordinate the region's work associated with all ARRA applications. The steering group will provide a single voice in support of the region's collective high-speed rail priorities.