Financial experts and Virginia leaders say that if the Commonwealth is to rebound from the economic downturn and compete nationally, it’s going to need improvement to the infrastructure.
Transportation Secretary Sean Connaughton says in paving projects alone, V-DOT is investing $400-million and the same amount next year. The General Assembly also gave the Department the authority to move forward with Governor McDonnell’s transportation package, which allows more than $3-billion in capital projects over the next three years by taking advantage of low interest rates:
“Just to give you an idea, I mean–Northern Virginia—we at any given night have a hundred different project involving lane closures going on every single night. Over 70% in the Hampton Roads area, and we’re now about to start getting out on the street, a lot of these projects for construction as well,” said Connaughton.
He does say the long-term challenge to transportation construction is a reliable funding stream. Since vehicles are more fuel-efficient, the state cannot rely on a gas tax, but no other solution has yet been approved.