Project Funds – Indiana has its Infrastructure Tab Covered

Project Funds – Indiana has its Infrastructure Tab Covered

Indiana has a long history in supporting infrastructure projects as a way to foster business growth, and this year we’re taking things up a notch. Numerous major construction projects are now fully funded in the state, some of which may create big economic impacts as they become established. We’ve gathered a look at some of the biggest developments that have received funding and are now on their way to becoming tomorrow’s infrastructure assets.


$475 Million for “Transformational” Projects

Early this summer, state officials announced a commitment of $475 million in funding dedicated to three infrastructure projects across southern Indiana. These projects were described as being “transformational” for Indiana’s top-rated transportation network.

  • $75 Million – Improving the U.S. 231 Link Between Interstates. The state will invest $75 million for design and construction of added travel lanes, passing lanes and intersection improvements at strategic locations on U.S. 231. The improvements will significantly reduce congestion in the Jasper and Huntingburg areas and improve safety and mobility throughout the approximately 48-mile corridor from I-64 near Dale to I-69 near Crane. Construction is anticipated to begin by late 2022.
  • $200 Million – A Direct Connection for S.R. 101. INDOT will begin development of an approximately $200 million extension of State Road 101 to connect with the existing portion of the highway at U.S. 50 near Milan and at the Ohio River crossing via Markland Dam near Vevay. The 25-mile new highway extension will provide a direct connection for Dearborn, Ohio, and Switzerland County communities to both I-71 and I-74 and will offer a new cross-river route for freight traffic through Southeast Indiana. Initial planning for the project will begin within the next year.
  • $200 Million – Indiana’s Approach to the Ohio River Crossing. Since 2016, Indiana and Kentucky have worked together on developing the I-69 Ohio River Crossing near Evansville. INDOT will begin designing the Indiana approach to the river, which includes an interchange with the existing I-69 and Veterans Memorial Parkway and an approximately 1.5 mile new-terrain portion of I-69 approaching the Ohio River. This will be an investment of $200 million. As both states design and build respective approach portions of the project, INDOT and the Kentucky Transportation Cabinet will continue to partner on development of bridge portion of the project. Once fully connected, I-69 will be a continuous interstate from the U.S.-Canada border near Port Huron, Michigan, to Kentucky-Tennessee state line.


$1.073 Billion – Final Contracts of the I-69 Finish Line

Just before spring, the final two construction contracts to build the I-69 Finish Line project between Martinsville and Indianapolis were awarded. The Finish Line is the final 27-mile stretch of road that will be part of the 142-mile I-69 corridor eventually connecting Evansville and Indianapolis.

INDOT awarded one of the final two construction contracts to a Reith Riley/Crider and Crider joint venture for $345 million. The contract will construct I-69 along a stretch from Morgan County to Johnson County and will include the construction of two major interchanges.

The other of the two construction contracts was awarded to a Walsh Construction and Milestone Contractors joint venture for $728 million. Walsh and Milestone will design and construct I-69 from Johnson County to I-465 in Indianapolis, establishing four new interchanges along that route. They will also be adding lanes and making improvements on I-465 between I-65 and I-70.

In all, the I-69 Finish Line project involves building more than 26 miles of new interstate, 35 lane miles of local access roads, and 39 new bridges. Thirty-five existing bridges will be rehabilitated, and 14 traffic signals removed as part of the project. The new roadway is expected to open to traffic by the end of 2024.


Commerce Never Stops

All of these projects are evidence that Indiana doesn’t just talk the talk when it comes to being known as the “Crossroads of America.” We walk the walk by putting up the cash to develop new modes of connectivity. As these projects continue to take shape, businesses will have more ways to reach their customers and suppliers. Commerce never stops moving in Indiana, it only improves.

Category Features, Finance