transportation

The last time you drove in Tel Aviv, did you wish there was a more efficient transportation system that’s clean, fast, and comfortable?

As traffic and levels of air pollution rise in the world’s major cities, the need to find an effective system is becoming more pressing than ever. Tel Aviv is the site of an interesting transportation experiment – the SkyTran. SkyTran is a NASA Space Act company that has combined space age technology with the down-to-earth needs of metropolitan transportation.

On the Goldstein on Gelt show, I spoke with the CEO of SkyTran, Jerry Sanders, who explained what his company is bringing to Tel Aviv.

SkyTran is an elevated high-speed, low-cost, private, rapid transportation system,” he explained. “Imagine a little cute rocket-like vehicle moving around on an elevated driveway, and that means above the traffic, above the stop signs, above the red lights. It’s a vehicle that will take you from any point within an urban grid to any point in or outside of it to the suburban grid and it will do so without getting stuck in traffic.”

The compact SkyTran carriage has seats for one or two people, and Sanders says that its building and running costs are comparatively low, making it the cost-efficient alternative to subway systems. The company is intending to open its first pilot system inIsrael, in Tel Aviv’sYarkonPark, connecting the city’s high tech area to Tel Aviv port.

When I asked him how easy it has been for SkyTran to do its work inIsrael, he told me, “We’re moving the bureaucratic hurdles to enable us to start construction. We’re very encouraged by what’s happening here and we’re delighted to work with the various branches of government.”

Hopefully Sanders’ innovation will not only decrease traffic in Tel Aviv, but will bring more innovations and investments to Israel. With all the time you save on quick transportation, you can listen to the complete interview here.

(The opinions expressed on the Goldstein on Gelt show are those of the guest, and not necessarily my opinion or the opinion of Portfolio Resources Groups, Inc.)

Douglas Goldstein, CFP®, is the Director of Profile Investment Service, Ltd., which specializes in helping people who live in Israel with their US dollar assets and American investment and retirement accounts. He helps olim meet their financial goals through asset allocation, financial planning, and using money managers.

Published February 23, 2015.

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