At least 25 states across the country have this in common right now: their legislators are working on infrastructure bills to fund transportation projects. Massachusetts has already approved a $16.5 billion bond.
State Legislation Underway
It’s a busy time for state legislative efforts: 25 states are working through a grand total of 61 measures to fund transportation projects. Construction Dive reports that bills introduced in January include:
- 19 in Minnesota.
- 7 in Missouri.
- 3 in Connecticut, Virginia and Washington.
- 2 in Arizona, Nebraska, Utah and Wyoming.
- 1 in Arkansas, Hawaii, Indiana, Kentucky, Maryland, Massachusetts, Montana, New Mexico, New York, North Dakota, Oklahoma, Oregon, South Dakota, South Carolina, Texas and Vermont.
Though it’s hard to predict the outcome and timeframes for all 61 of these legislative efforts, the one that has been approved broadcasts optimism: in Massachusetts, a $16.5 billion bond will provide capital for transportation infrastructure. In addition to a $1.25 billion Next Generation Bridge Program, NBC Boston reports that the bill also includes:
$3 billion for “transit system modernization,” an umbrella category covering MBTA bus and Green Line upgrades, electrification of sections of the Fairmount and Stoughton commuter rail lines, and extending the Blue Line to the Charles/MGH Station on the Red Line.
Another $825 million will go toward the South Coast Rail expansion project adding commuter rail service in Taunton, New Bedford and Fall River. The under-construction Green Line Extension into Somerville and Medford would get $595 million.
On the roadway side, the bill authorizes $350 million in bonds to improve the roadway approaches and related infrastructure near the Bourne and Sagamore bridges connecting to Cape Cod.
Partnerships Available In Every State
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All Across The USA
Results of the transportation efforts already underway across the country. There’s a widening ship channel in the works in Houston and speedy tramways under construction in San Bernardino and Las Vegas. Virginia’s National Landing promises a transportation hub with“unparalleled access” (to everywhere, really), and, yes, even the infamously slow and fraught Northeast Corridor is getting attention.
As everyone prepares to get moving, why not let Colonial Surety Company help your contracting firm become bid-ready with a unique Partnership Account®? Apply and pre-qualify for a surety-line of credit that will help you grow your business. It’s easy with Colonial’s efficient new online system—and all companies that apply receive, for free, Dun & Bradstreet scores.
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Contractors who pre-qualify for a surety line of credit, go on to upload a few more documents that help Colonial better understand their operation and underwrite the Partnership Account®.
Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.