A new “cost-share” program created by the Missouri General Assembly this year provides $50 million to the Missouri Department of Transportation and the Missouri Department of Economic Development to build “partnerships” with local entities in support of local road and bridge projects.
[Above photo by the Missouri DOT]
The Governor’s Transportation Cost-Share Program provides financial assistance to public and private applicants for public road and bridge projects, matching up to 50 percent of the construction contract costs for projects selected based on economic impact, applicant’s share of total project costs, transportation need – including impacts to the state highway system – and public benefit. Applications may be submitted through October 1, the Missouri DOT said.
“This program offers an exciting opportunity for Missouri to advance both transportation and economic development,” Governor Mike Parson (R) said in a statement. “We commend our legislators for supporting this economic development tool that will turn infrastructure investments into Missouri workforce investments.”
The Missouri DOT’s Cost-Share Committee is comprised of its chief engineer, chief financial officer, assistant chief engineer, two director-appointed employees, and Missouri DED staff. The committee will select projects with the greatest economic benefit to the state, the agency said, which will then be presented to the Missouri Highways and Transportation Commission for approval.