Jefferson City Today, Governor Mike Parson announced that 20 transportation projects will receive $50 million under his transportation cost-share program. The Missouri Departments of Transportation (MoDOT) and Economic Development (DED) selected the projects with the goal of building partnerships with local entities to deliver road and bridge projects that have the greatest economic benefit to the state.
“This is an exciting opportunity for Missouri to turn infrastructure investments into workforce investments,” Governor Parson said. “The number of applications shows that these partnerships are not only of great interest but of great benefit to Missourians. It also highlights that many unfunded transportation needs remain in our state.”
Projects awarded range from urban roadway improvements to local community projects, all of which support economic development.
MoDOT’s Cost-Share Committee, made up of MoDOT’s Chief Engineer, Chief Financial Officer, Assistant Chief Engineer, and two Director-appointed employees along with DED staff, reviewed 48 applications requesting more than $92 million to deliver $321 million in projects. The committee selected 20 applications to receive the $50 million, which will deliver $131 million in projects upon approval by the Missouri Highways and Transportation Commission in January.
During legislative session, the Missouri General Assembly appropriated $50 million to create the Governor’s transportation cost-share program, which provides financial assistance to public and private applicants for public road and bridge projects. The program matches up to 50 percent of the construction contract costs for selected projects.
Ten percent of the funds are set aside for projects that demonstrate economic development. MoDOT and DED worked with project sponsors to determine when projects may generate economic development. The departments may contribute up to 100 percent of the construction contract costs from the 10 percent set aside for these projects.
The selected projects will be presented to the Missouri Highways and Transportation Commission for approval in January.