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IN THE
NEWS
Gov. Easley Announces Bold Transportation Program
NC Moving Ahead! To Revitalize Economy With $4 Billion Impact and 30,000 Jobs
RALEIGH - Gov. Mike Easley today announced N.C. Moving Ahead! - a bold transportation initiative that, over two-years, will result in nearly 30,000 new jobs and have a $4 billion impact on the economy. The program will also bring a new level of safety and mobility to the state's transportation network by attacking the state's most critical needs-maintenance, modernization and public transportation.
"Transportation in North Carolina has reached a critical crossroad," said Easley. "We are taking money that would otherwise sit idle and investing it in jobs and infrastructre. We hope to create 30,000 new jobs while generating a $4 billion impact on our economy. Although we have made great strides in highway expansion over the years, the current condition of roads and bridges, as well as the lack of public transportation options, will not support the quality of life needed to fulfill our vision for One North Carolina.." To pay for N.C. Moving Ahead!, Easley will ask the General Assembly to revise the Highway Trust Fund law to allow these improvements to be funded. The law currently requires all cash outlays to be used for expansion. The North Carolina Department of Transportation (NCDOT) proposes to then sell $700 million in bonds already approved by voters to reimburse the Trust Fund for expenditures made on bond projects.
According to The Road Information Program (or TRIP), 42,000 jobs are created by every $1 billion spent in road construction and every $1 in highway spending has a $5.70 impact on the economy. Based on these figures, N.C. Moving Ahead! will make a $4 billion impact in North Carolina and will result in nearly 30,000 new jobs.
"N.C. Moving Ahead! is not only fiscally responsible, it reflects the voice of the citizens," said State Transportation Secretary Lyndo Tippett. "They recognize the important connection between transportation and economic growth and they know that our state's future is tied to having a transportation system that supports safety, mobility and choice, and most importantly, benefits all regions equally. N.C Moving Ahead! is a critical first step toward a long-term solution to meet all of these needs."
Economic Benefits To Spread Throughout the State N.C. Moving Ahead! will be subject to the equity formula, which means that both rural and urban areas will receive their fair share. The new transportation improvements are expected to strengthen the state's economic competitiveness and attract new industry. In addition, the rail expansions alone offer an additional economic stimulus because these commitments will bring $600 million in new federal funds into North Carolina, setting the stage for further growth. The environmental benefits associated with maintenance and public transportation projects-less impacts and improved air quality-will also improve economic competitiveness.
Increased Safety & Mobility N.C. Moving Ahead! will allow people, goods and dollars to move more efficiently through our state by investing $700 million in three critical areas-maintenance, modernization and public transportation-in the following manner:
- Maintenance--Increase the highway maintenance and preservation budget nearly 45 percent. This will allow DOT to resurface and rehabilitate highways across the state in rural and urban areas.
- Modernization--Increase highway modernization by 25 percent through improvements such as widening lanes and shoulders, building turn lanes, improving intersections, replacing substandard bridges and upgrading traffic signal systems across the state.
- Public Transportation--Increase the funding for public transportation by about 25 percent which will allow DOT to help fund regional rail systems in the Charlotte metro area, the Triangle and the Triad and to modernize the aging public transportation infrastructure across the state.
N.C. Moving Ahead! was created using input from the update of NCDOT's long-range transportation plan. During this time, the department held several meetings across the state and heard from hundreds of citizens and leaders about their greatest transportation concerns. Overwhelmingly, citizens endorsed more investment to maintain and update the state's transportation network.
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IN THE NEWS
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Highway Fund is Fat but flawed.
The Highway Trust Fund was a political marvel. It was born in 1989 on the promise of building a system of multilane highways and urban loops in 13 years using $9 billion raised from new taxes and fees.
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