Construction and operation of the 12-mile extension of the Foothill light rail line through the eastern San Gabriel Valley will provide a $2.6 billion economic boost to the region, according to a study released today.

The $1.5 billion, 12.3-mile extension from Glendora to Montclair in San Bernardino County is slated to break ground next month; it will include six new stations. When completed around 2026, a trip from Montclair to downtown Pasadena will take just over 40 minutes. The trip to Union Station in downtown Los Angeles will take about 75 minutes.

The Foothill Gold Line Construction Authority is still in the process of selecting a general contractor; on Dec. 2, utility relocation work is set to begin.

The study, by Los Angeles economic consulting firm Beacon Economics, estimated that the project will generate nearly 17,000 jobs, more than $2.6 billion in economic output, more than $1 billion in labor income and nearly $40 million in tax revenues for Los Angeles County. In addition, once passenger service begins, it will generate an annual benefit to the county of more than $52 million in economic output, $17 million in labor income and nearly $800,000 in tax revenues, while generating 277 jobs.

The study also noted that the extension already has spurred $1 billion in private investments in residential and commercial development, including nearly 1,200 residential units near the future Montclair station alone and 1 million square feet of commercial development.

Economy, education, energy and transportation reporter Howard Fine can be reached at [email protected]. Follow him on Twitter @howardafine.