Old North News

Between $1.5 billion to $3 billion in additional transportation funding in North Carolina is needed if the state ever wants to raise its infrastructure ranking from a C-grade, the NC Chamber said in August.

The chamber's analysis comes as it prepares to release its "Modernizing North Carolina's Infrastructure Through Sustainable and Diversified Revenue Streams." The NC State's Institute for Transportation Research and Education created the report for the chamber, the business organization said in an Aug. 17 press release. The full report will be released Thursday, Aug. 27 during the chamber's Transportation and Infrastructure virtual summit.

The C-rating was determined by the well-respected American Society of Civil Engineers, which rates infrastructure nationwide.

Aside from age, what is driving the state's infrastructure problems? The upcoming report links it partly to an outdated revenue formula, which claims that the model "costs the average motorist more than a thousand dollars each year from driving on congested, inadequately maintained roads." The report will also look at four likely avenues to create sustainable funding for transportation projects.

The report is part of a larger conversation the chamber is fostering looking at the state's transportation infrastructure called "Destination 2030: The Road to a Stronger Transportation Future." This forward-thinking effort will be discussed during the virtual seminar.

This alliance of business owners and economic developers will try to answer the question: "How do we create a modernized, diversified transportation revenue formula for North Carolina that's designed to grow and maintain our network at the pace of our fast-growing population?"