U.S. Transportation Secretary Anthony Foxx announced a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for up to $209.3 million to finance the Portsmouth bypass in Scioto County, Ohio, on Wednesday.
“This is an important project that will not only improve highway safety, but represents an important partnership between the public and private sector to advance our overall investment in this nation’s infrastructure.” Foxx said. “The Portsmouth Bypass will benefit the entire community by reducing the number of trucks in the city and opening up the area for economic development.”
The Portsmouth Bypass project addresses current traffic challenges that will only grow over time. The project is a 16-mile, limited access, four-lane highway that will bypass approximately 26 miles of U.S. 52 and U.S. 23 in Portsmouth. After it is completed, the Ohio Department of Transportation estimates that it will reduce travel time by 16 minutes in comparison to other routes in the area.
“By using [public-private partnership] project delivery, ODOT is able to accelerate this project,” Deputy Federal Highway Administrator Gregory Nadeau said. “The TIFIA program is providing a critical piece of the financing to complete the missing link of the Appalachian Development Highway System in Ohio.”
The Portsmouth Gateway Group, a group of private sector infrastructure developers, will receive the TIFIA loan to build the project, and will operate and maintain the project for up to 35 years after it is completed.
