13 AUGUST, 2019 | DELAWARE BUSINESS NOW
Gov. John Carney on Wednesday signed Senate Bill 61, legislation that establishes the Transportation Infrastructure Investment Fund (TIIF) to allow businesses to make roadway infrastructure improvements.
The signing took place at a new bridge over the Christina River.
TIIF aims to attract new businesses to Delaware, expand existing Delaware businesses, and create jobs. Governor Carney called for the creation of a new Transportation Infrastructure Investment Fund in his 2019 State of the State Address.
“This legislation is really about creating good-paying jobs for Delaware workers and their families,” said Carney. “As I said in my State of the State Address in January, TIIF will allow us to react quickly to important economic development projects that require upgrades to roads or other infrastructure. This new fund is just part of our efforts to modernize Delaware’s transportation system – and to fix roads, bridges, and potholes across our state. Investments in our transportation infrastructure make it easier and safer to travel across Delaware, and help us attract development from new and existing businesses. I want to thank members of the General Assembly for their partnership on this important issue.”
“Under Governor Carney’s leadership, DelDOT has been committed to streamlining our review process for businesses that want to locate and expand in Delaware,” said Secretary of Transportation Jennifer Cohan. TIIF is another tool in our toolbox that will assist us in attracting businesses and grow our economy.”
Through 2025, the State of Delaware will invest $3.9 billion to modernize Delaware’s roads and bridges, improve safety, alleviate congestion on Delaware roadways in all three counties, and attract new business development and good-paying jobs, a release stated.
The Fiscal Year 2020 budget includes $10 million for the new infrastructure fund. The fund will be managed by the Transportation Infrastructure Investment Fund Council, a nine-member council established by the legislation. The council will consider applications and make funding recommendations to Delaware’s Transportation Secretary and the Secretary of State.
“On behalf of the American Council of Engineering Companies of Delaware and its nearly 1,000 practicing engineers in Delaware we are thrilled to support infrastructure investment in our state,” said ACEC President, Dave DuPlessis. Infrastructure connects households to higher quality opportunities for employment, healthcare and education. It is critical to the success of our state. We look forward to designing the next wave of projects that will benefit from the TIIF.”
This article was originally posted on the Delaware Business Now at: https://delawarebusinessnow.com/2019/08/governor-signs-road-investment-fund-legislation/
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