Governor Bob McDonnell announced today that VDOT will advertise an estimated 1.1 billion in construction projects during the first six months of next year. In September, a scathing audit of VDOT found nearly a billion dollars in a bank account. The agency was blasted for not moving projects through the pipeline.
"I'd say there's been money sitting in accounts while people have been sitting in traffic," said Governor Bob McDonnell in September of 2010 when the report was issued.
Fast forward two months, and money is moving again. The Governor says the agency will advertise an estimated 1.1 billion dollars in construction and maintenance projects during the first six months of next year. The estimated impact is nearly Thirty-Four thousand new or supported jobs, as well as 282 million in taxes for Virginia.
"There's never been a better time to spend money on transportation. The deals that we've gotten over the last year from everything to stimulus funds to the audit money we pushed out the door have been the best deals we've ever seen,"said Governor McDonnell.
The Governor says contractors are bidding low, just to get the work, and that interest rates are even better. "Frankly, we need to get people in this industry back to work. This is the industry, construction and road contracting, that's probably been hit harder than any other industry in Virginia. We need the congestion relief now, not in five or 10 years."