Governor Pat McCrory introduced a new proposal for funding transportation projects on April 18 to accelerate North Carolina’s infrastructure investments and encourage greater economic growth. The strategic mobility formula would allow the N.C. Department of Transportation to use existing funds more efficiently, significantly increasing the number of projects to better connect economic regions and create more jobs.
“We need a strategic way to connect all North Carolinians to greater opportunities in a way that gives us the most bang for our limited dollars,” McCrory said. “We want to ensure that all of our people have access to jobs, quality education, health care and recreation.”
NCDOT estimates the strategic mobility formula will fund at least 260 projects and create more than 240,000 jobs over the next 10 years. The formula is data driven, incorporates more local feedback and allows all modes of transportation to compete for funding.
The new strategic mobility formula takes a tiered approach that aligns available funding with the state’s greatest transportation priorities. Under the new formula, 40 percent of funding over the next 10 years is allocated to the statewide level, with an additional 40 percent allocated to the regional level and the remaining 20 percent allocated to the division level.
“With our population growing rapidly and transportation revenues continuing to decline, we have to be efficient and strategic in the way we fund, distribute and prioritize projects that are aligned with commerce,” NCDOT Secretary Tony Tata said. “The strategic mobility formula increases our ability to have the highest impact and address the greatest needs.”
NCDOT is working closely with the N.C. Department of Commerce to invest in infrastructure that will help attract, retain and grow business in North Carolina.
“Collaboration across agencies is critical if we are going to transform our state’s economy,” said Commerce Secretary Sharon Decker. “We need to think differently and work together in innovative ways to make a lasting impact in all areas of our state.”
“Making impactful change requires strong collaboration,” added McCrory. “Government agencies working in silos doesn’t work for the people of North Carolina.”
Several lawmakers plan to propose legislation for the strategic mobility formula this session. Read more.
For more information, visit www.ncdot.gov/strategicmobilityformula.
McCrory, Tata, Decker outline overhaul of transportation funding (Triangle Business Journal, April 18)