[ politics ]
West Virginia’s
Road to Prosperity
KATLIN SWISHER
Infrastructure and job creation: these
are two topics at the top of nearly every-
one’s list of priorities when it comes to
addressing West Virginia’s current eco-
nomic struggles. The state needs jobs,
which require business start-ups and
expansions and out-of-state companies
relocating to West Virginia. In order to
draw businesses—and people—here, the
state’s struggling infrastructure must be
addressed.
In light of these needs, West Virginia
has taken action to pave the way for eco-
nomic recovery across the state through
three different bonding strategies: gener-
al obligation bonds, which were created
through Governor Jim Justice’s Roads to
Prosperity initiative; turnpike bonds; and
Grant Anticipation Revenue Vehicle, or
GARVEE, bonds. Through these three
types of bonds, the state will invest $2.8
million into more than 600 transporta-
tion projects over the next four years.
Given the current shape of the state’s
roadways, these projects can-not begin
soon enough.
“We have not really invested in our
roads as we should have over the last
decade,” West Virginia Department of
Transportation (DOT) Secretary Tom
Smith says of the state’s infrastructure
challenges. “We’ve gone from 12th worst
in the country for bridges to fifth worst,
and the surfaces of our roads are continu-
ing to decline. Governor Justice believes
we can kick-start the economy again by
really focusing on transportation and
taking care of all this, which we’ve been
letting slide. I think 2018 will be a banner
year for us as far as having a lot of actual
construction.”
General Obligation Bonds
The Roads to Prosperity general ob-
ligation bond, which passed with 72.85
percent of the vote in a statewide special
election on October 7, 2017, totals $1.6
billion for major regional transportation
projects and improvements. The bonds
will be sold in four installments: $800
million in May 2018, $400 million in
May 2019, $200 million in May 2020 and
$200 million in May 2021. This year’s
$800 million bond sale is the largest for
transportation purposes in West Virgin-
ia’s history, according to Smith.
“That is an eye-popping number,” he
says. “We intend to put that $1.6 billion
out on the street. It will be very signifi-
cant for projects all over the state.”
About 40 projects will be funded
through the general obligation bonds.
The first project will be widening the West
Virginia Turnpike on I-77 near Tamarack
and Beckley’s Harper Road exit, which
is set to begin this summer. The second
project will focus on alleviating rush-
hour congestion in the Kanawha Valley
by constructing a companion bridge ad-
jacent to the Nitro-St. Albans bridge,
and I-64 in that area will be widened to
six lanes. In addition, 25 bridges on I-70
near Wheeling will also see improvements
through a $170-180 million contract, and
$200 million will support improvements
to smaller, less traveled roadways. Both
the Wheeling and Kanawha Valley proj-
ects will be under contract by summer.
However, because the contractor will
manage the design, construction will not
begin until later.
Turnpike Bonds
The $500 million turnpike bonds will
allow the DOT to use toll revenue from
the West Virginia Turnpike to support
projects in 10 Southern West Virginia
counties: Fayette, Greenbrier, Kanawha,
McDowell, Mercer, Monroe, Nicholas,
Raleigh, Summers and Wyoming.
“These are the 10 counties most af-
fected by the tolls on the turnpike for the
last 50 years,” says Smith. “We think it is
a very good gesture on the Legislature’s
part, and we are happy to be a part of
a project that puts money back into 10
counties that have been so affected over
the years.”
The turnpike bonds will support smaller
projects, including bridge replacements,
roadway improvements and slide correc-
tions. The first project, anticipated to
begin this summer, will include route im-
provements such as adding truck climbing
lanes, widening curves and fixing slides
on Route 10 from Man to Kegley. The
first installment of turnpike bonds will
be sold this summer.
WWW.WVEXECUTIVE.COM
SPRING 2018
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