Virginia Transportation Plan Calls for $18.2B in Spending
Virginia will spend $18.6 billion to study, develop and build more than 3,600 transportation projects through 2023 under the latest Six-Year Improvement Program approved by the Commonwealth Transportation Board.
More than $15.2 billion will go to highway projects, with $1.1 billion earmarked for “state of good repair” efforts statewide. The program also incorporates projects prioritized under Virginia’s highly acclaimed Smart Scale scoring system, and provides the Virginia Dept. of Transportation with a budget of $5.4 billion for FY 2018, which begins July 1, 2017.
Major work to be funded during the six-year period includes the $600-million first phase of the I-64 Southside Widening and High Rise Bridge project in Chesapeake, and the $108-million, 6.2-mile second phase of the U.S. Route 460 Connector in Buchanan County. The highway total also allocates nearly $4 billion for the state’s role in public-private partnerships, such as extending the I-95 Express Lanes to Fredericksburg.
Rail and public transportation programs will receive $3.4 billion over the next six years, with $2.6 billion set aside for public-transportation projects and $817 million for rail initiatives.
Virginia’s Six-Year Improvement Program sets funding allocations for the state’s public transportation systems for the immediate fiscal year, and planned funding for the following five fiscal years. The program is updated annually to reflect updated revenue estimates, revised priorities and changes in project schedules and costs.