The state has halted its work on the proposed high-speed Zip Rail line connecting Rochester and the Twin Cities.
The Minnesota Department of Transportation finished an environmental review of the line but doesn't have funds to proceed with design and construction.
However, a private company has expressed interest in building its own high speed line.
"This provides a unique opportunity to get a critical piece of rail infrastructure for mobility purposes connecting our third largest retail and economic center in Minnesota to the Twin Cities without using public resources," said Dan Krom, MnDOT's director of passenger rail.
The private company, Bloomington-based North American High Speed Rail Group, just received permits from MnDOT to study a possible high-speed rail project of its own—an elevated train that could travel more than 200 miles per hour.
Rochester city leaders have had interest in the rail line for years, but rural residents living along the rail corridor see mostly problems with the project.