State officials said that they are counting on approval of an $87-million transportation bond to help finance the “intermodal” project, which they said would create jobs, stimulate the Rhode Island economy and preserve the environment by keeping cars off the road.

“This couldn’t come at a better time,” Governor Carcieri said at a news conference. The project will create up to 300 construction jobs, he said, and $120 million annually in related economic activity when it’s completed in October 2010.

The Massachusetts Bay Transportation Authority will operate eight round-trip commuter trains daily from 5:30 a.m. to 10:30 p.m., said Dana Nolfe, a spokeswoman for the Rhode Island Department of Transportation.

According to director of Department of Transportation, Michael P. Lewis, the transportation bond issue includes less than $20 million for the $267-million intermodal project, but state money is required in order for Rhode Island to qualify for another $80 million in federal assistance for the project.

About 50 percent of the project’s cost will be financed with bonds that will be repaid with the revenue generated by parking, the rental-car operation and fees charged to customers for use of the rental-car facility, said Kevin Dillon, president and chief executive officer of the Rhode Island Airport Corporation.

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