National and State Data: artbahighwaydashboard.org
WASHINGTON, November 18, 2022 /PRNewswire/ — Tennessee deployed $1.1 billion in federal highway and bridge formula funds in fiscal 2022 to fund 837 new improvement projects in communities across the state in the first year of the Infrastructure Investment and Jobs Act (IIJA), a review of U.S. Treasury Department data to get going 09/30 shows.
“A key takeaway from the Treasury Department data is that the bipartisan infrastructure bill is working as intended for the first year, with state transportation departments disbursing funds and projects laying the groundwork,” said American Road & Transportation Builders Association (ARTBA) chief economist Dr . Alison Premo Blackwho created the report.
“The economic and livable benefits of the Infrastructure Act will become even more apparent as funding continues in the coming years,” adds the ARTBA Chairman Paula Hammonda WSP United States of America Senior Vice President. “The beneficiaries of these long-term investments will be the American travelers in their communities.”
president Joe Biden put the IIJA into effect 15th of November2021. Nearly 90 percent of IIJA’s highway funds will be distributed to states through the existing formula, with the remainder through discretionary grants and other allocated programs.
By the end of September, over 29,000 IIJA projects had been started nationwide. The five largest projects funded by formula funds in Tennessee are:
Interchange change on I-55 at Crump Boulevard in Memphis – $99.6 million
I-75 Interchange Modifications and Improvements, I-24 Interchange, Phase 2 – $91.2 million
Interchange modifications and reconfiguration on I-40, Donelson Pike Interchange – $70.7 million
Widening of I-40 from west of SR 20 (US-412, Hollywood Drive) to west of SR 186 (US-45 Bypass) – $33.8 million
Widening of SR-63 from 2 to 5 lanes, from Campbell County Line to Hall Lane – $28.7 million
To access national and state project data visit: artbahighwaydashboard.org.
Founded in 1902, the Washington, D.C-based ARTBA champions infrastructure investments and policies that meet the nation’s need for safe and efficient travel.
View original content: https://www.prnewswire.com/news-releases/tennessee-started-837-transportation-projects-in-year-one-of-infrastructure-law-new-report-shows-301682919.html
SOURCE American Road & Transportation Builders Association