Texans are hardworking people. And nothing slows down your day like sitting in traffic. A new report from the Texas Comptroller of Public Accounts reviews infrastructure spending in Texas and evaluates the impact of investing in Texas roads.
According to the report, reliable transportation is critical to economic development. Large industries and small business alike depend on high-quality roads to deliver their goods and ensure access to their workforce. Across the United States, basic transportation infrastructure is aging and if the trend is not reversed, it could cost jobs and lost revenue.
By 2040, the state's population is expected to be nearly 45 million people. The Texas Department of Transportation (TXDOT) estimates about $60 billion is needed in the next 10 years to improve traffic flow in urban areas and another $20 billion is needed for statewide connections and border-trade projects. But these costs are not sunk. Experts estimate that these projects lead to a significant return on investment and promotes economic investment from the private sector.
Good infrastructure also puts more money in your pockets. Poorly kept roadways increase your out-of-pocket expenses by increased maintenance costs for your personal vehicle. In the Corpus Christi region, it costs an additional $549 yearly in vehicle operating costs.
The good news is that state transportation leaders are constantly evaluating our roadways and planning for our growth and improvement. In the coming years, more funds and resources to our infrastructure means more jobs and economic growth.