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Source : Wikimedia Commons
October 25, 2022
Author : Alex Bustillos
The $20 trillion U.S. economy relies on a huge infrastructure network consisting of highways and bridges, freight rail and ports, electricity grids, and internet provision.
This current infrastructure was established decades ago, and experts claim that delays and increased maintenance costs impede economic growth. In addition to safety problems, civil engineers warn that numerous bridges have structural deficiencies.
While the nation's infrastructure received a grade of C- in the 2021 Infrastructure Report Card, North Carolina faces its own infrastructure issues. In 2019, 9.3% of the country's 18,407 bridges were structurally inadequate. 14% of roads were in disrepair. It is estimated that every American driver incurs annual costs of $500 for driving on roads that need repair.
Senator Thom Tillis (R-NC) recently announced that the Federal Highway Administration (FHWA) of the U.S. Department of Transportation (DOT) would grant North Carolina $1.4 billion for highways and bridges. The financing is provided through the bipartisan Infrastructure Investment and Jobs Act, which Senator Tillis helped draft and enact.
Senator Tillis has previously said that as a legislator for North Carolina, one of his primary goals has been securing the funding necessary to upgrade the state's infrastructure system. The infrastructure bill focuses solely on investments in physical infrastructures, such as roads, bridges, water systems, and the electrical grid. The $550 billion allocated in the IIJA was paid for without increasing taxes. It will help generate billions in economic growth over the next several decades in a fiscally responsible manner, including the re-use of unused unemployment insurance and COVID-19 recovery funds, as opposed to adding to the national debt.
North Carolina alone will receive $10 billion for future transportation and infrastructure improvements as the Act delivers much-needed cash to repair and improve our roads, bridges, and airports. Additionally, it gives substantial funding to develop internet connections in rural places.
“This grant is a huge win for North Carolina, providing major funding for necessary improvements to our highways and bridges,” said Senator Tillis. “As a member of the bipartisan infrastructure group, I worked hard to ensure the package improved North Carolina’s roads, highways, and bridges for generations to come, and I applaud the DOT and the FHWA for their continued investment in our great state.”
The $1.4b grant has been divided into nine individual projects as follows:
Follow Contractor News for the latest information on roadwork and other related projects.