Gov. McDonnell Signs Historic Transportation Investment Legislation

Delegate Glenn Oder commented, "From Hampton Roads to the Cumberland Gap, and from Northern Virginia to Danville, Virginians have faced deteriorating roads, increasing congestion, and challenges with access to goods and services because we have been unable to pass a comprehensive transportation plan that invests in our roads, rails and public transportation systems, and because our government bureaucracy has hindered the efficient use of available resources for transportation. This year, we worked across the aisle to usher in a new era for transportation that better manages our transportation funding and makes VDOT more efficient and responsive to the needs of our citizens."

Jeff Southard, executive vice president of the Virginia Transportation Construction Alliance said, "Virginia's transportation system is finally receiving the significant investment that will not only improve the travel experience for the millions who depend upon Virginia's roads and transit systems each day, but it will support much-needed jobs for construction professionals throughout the Commonwealth. The transportation construction industry is a major economic driver and provider of employment in Virginia that has struggled because we have neglected our responsibility to invest in the Commonwealth's infrastructure for so long. The legislation signed today will help Virginia's economy to once again thrive."

The legislation, which passed with the broad bipartisan support of Democrats and Republicans in both bodies of the General Assembly, uses several financing mechanisms that will enable the Commonwealth to take advantage of historically low interest rates on bonds and construction bids that are coming in well below project estimates.

To read the full news release: http://www.governor.virginia.gov/News/viewRelease.cfm?id=699 For any query with respect to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com