WASHINGTON (WAVY) — The U.S. Federal Highway Administration has estimated both Virginia and North Carolina could receive more than $9.2 billion each in funds from the recently passed federal infrastructure legislation.
The money, which will flow in over the course of the next five years to the respective states, will help fund improvements in roads, bridges, railroads and airports.
There are also additional grants states and local governments can apply for that’ll help fund emission-reducing programs, port dredging projects and increase transportation safety.
The largest chunk of money, $7.7 billion for both states, will go toward funding for highways and bridges according to the federal highway funding formula. It’s a 33.5% increase in funding that Virginia gets under the current law. In North Carolina, it’s roughly a 28.7% increase.
Both states can expect to see more than $43 million for highway safety traffic programs, more than $920 million for public transit programs and more than $386 million for airports.
President Joe Biden signed a $1.2 trillion infrastructure package into law at the White House on Monday. Aside from modernizing the country’s infrastructure, it will also create 1.5 million jobs a year for the next decade, the Biden administration said.
“For decades, infrastructure in Virginia has suffered from a systemic lack of investment. In fact, the American Society of Civil Engineers gave Virginia a C- on its infrastructure report card,” the release from USDOT said. “The historic Bipartisan Infrastructure Law will make life better for millions of Virginia residents,
create a generation of good-paying union jobs and economic growth, and position the United States to win the 21st century.”