Texas Gov. Greg Abbott announced Thursday that Texas would invest $142 billion in transportation infrastructure for the state.
This record breaking investment will adopt a $100 billion 10-year road to recovery plan with the Texas Department of Transportation.
The plan for this investment is to enhance safety, improve congestion and connectivity and preserve the state’s roadways.
“Thanks to our booming economy, Texas has achieved a major milestone in our transportation infrastructure with this record $142 billion investment that will strengthen our roadways and build a next-generation transportation network,” Abbott said. “Through this record transportation investment project, the State of Texas will further improve roadway congestion and safety to meet the growing needs of Texans in our large metros, rural communities, and everywhere in between. This plan will not only connect Texans from every corner of our state, it will also bolster our economic growth and ensure Texans and businesses continue to thrive for generations to come.”
Earlier this year it was announced by Abbots that TxDOT’s 2024 Unified Transportation Program would see a $15 billion increase from the year prior.
Since a majority of the funding is coming from the state, all $142 billion will be used on development and delivery projects, right of way acquisition, engineering, maintenance contracts and UTP construction funding.
According to state officials, annual investments into the UTP, over the next 10 years, is expected to dramatically help the Texas economy.
They estimate $18.8 billion per year in economical benefits, including over 70,000 direct and indirect jobs being added to the market.
“This historic investment in our transportation system is critically important to help meet the needs of our fast-growing state,” said Texas Transportation Commission Chairman J. Bruce Bugg, Jr. “Thanks to the leadership of Governor Abbott and our Texas Legislature, Texas continues to see growth in the transportation investments needed to support a world-class transportation system focused on safety and congestion relief.”
