Missouri recently created the Governor’s Transportation Cost-Share Program intending to build partnerships with local groups to complete road and bridge projects.
“This program offers an exciting opportunity for Missouri to advance both transportation and economic development,” Gov. Mike Parson said. “We commend our legislators for supporting this economic development tool that will turn infrastructure investments into Missouri workforce investments.”
A total of $50 million was appropriated to the Missouri Department of Economic Development (DED) and the Missouri Department of Transportation (MoDOT) for the creation of the program.
The program provides matches up to 50 percent of construction contract costs for selected public road and bridge projects. The program is open to public and private applicants.
Projects will be selected for financial assistance based on multiple criteria: the applicant’s share of total project costs, the economic impact, the public benefit, and the transportation need. Need includes the impact on the state highway system.
Projects will be selected by a MoDOT Cost-Share Committee and then presented to the Missouri Highways and Transportation Commission for approval.
The committee will be comprised of DED staff, two MoDOT director appointed seats, and MoDOT’s chief engineer, chief financial officer, and assistant chief engineer.
Interested groups must submit applications by Oct. 1.