Virginia Gov. McDonnell signs $4B infrastructure bill, rail included

Virginia Governor Bob McDonnell signed into law the most significant investment in the Commonwealth's transportation system in a generation. The legislation, HB2527 and SB1446, sponsored by Speaker Bill Howell (R-Stafford) and Senators Chuck Colgan (D-Manassas) and William Wampler (R-Bristol), creates a framework to invest nearly $4 billion into Virginia's road, rail and transit networks and fund more than 900 projects over the next three years without raising taxes. Speaking about the transportation legislation, Governor McDonnell noted, "It has been over 20 years since we have made a major investment in our transportation system. This common-sense legislation takes advantage of previously authorized and innovative new financing mechanisms at a time when interest rates and construction costs are at near historic lows and Virginians are in dire need of jobs." All regions of the Commonwealth will benefit from 900 projects that will be funded by this legislation, which include rail and transit improvements. The Governor said, "A recent report by Chmura Economics shows that construction of the 900 projects will grow the Virginia economy by over $13 billion and support an additional 100,000 jobs. This transportation legislation that we are signing today is a bipartisan achievement that will benefit Virginians in every corner of the Commonwealth." Of the many improvements, investments in Washington Metro, Hampton Roads Light rail and other transit providers, including VRE to extend to Spotsylvania County are included in the legislation. Jeff Southard, executive vice president of the Virginia Transportation Construction Alliance said, "Virginia's transportation system is finally receiving the significant investment that will not only improve the travel experience for the millions who depend upon Virginia's roads and transit systems each day, but it will support much-needed jobs for construction professionals throughout the Commonwealth. The transportation construction industry is a major economic driver and provider of employment in Virginia that has struggled because we have neglected our responsibility to invest in the Commonwealth's infrastructure for so long. The legislation signed today will help Virginia's economy to once again thrive."