After states tapped into their FY 2022 federal highway formula funds, they managed to kick off nearly 25,000 new improvement projects across the United States following the passage of the Infrastructure Investment and Jobs Act (IIJA) last year, according to data from the Treasury Department.
Signed into law by President Joe Biden in November of 2021, the IIJA injected millions into economy-spurring efforts. According to an American Road & Transportation Builders Association (ARTBA) report, nearly 90 percent of its highway funds were dispensed by existing formula to states. The remainder was issued through discretionary grant awards and other allocated federal programs. ARTBA recently created a digital tool to catalog national and state data on affiliated projects and provide insights into how IIJA funds are invested.
ARTBA is an advocate for infrastructure investment and policy.
“A key takeaway from the Treasury data is that the bipartisan infrastructure law is working in year one as intended, with state transportation departments disbursing their funds and projects breaking ground,” Dr. Alison Premo Black, ARTBA chief economist who reviewed and compiled the data for the report, said.
Data covered through Aug. 31, 2022. It showed that the largest IIJA projects went to Texas, including $291 million for the expansion of a loop on I-10 and another $225 million for the 635 East Project in Dallas. Others in the top 20 included New York, with $211 million for improvements to access and capacity on the expressway to and from JFK international airport; Arizona, with $200 million for roadway widening on I-17 Split; South Carolina, with $145 million for a Phase 1 corridor improvement project on I-20/26/126; and more.
“The economic and quality of life benefits of the infrastructure law will become even more apparent as funding continues in coming years,” Paula Hammond, ARTBA chair, said. “The beneficiaries of these long-term investments will be the American traveling public in their communities.”