11 Nov North Carolina communities will benefit from infrastructure funding
With the recent passage of a $1.2 trillion infrastructure bill by Congress, cities, towns and rural areas across North Carolina are poised to reap the benefits.
From roads and bridges to water and wastewater systems, the legislation aims to help states and their communities improve often-overlooked infrastructure needs. Proponents of the legislation say that the funding will not only provide needed investment for modernization, repairs and rehabilitation but will also make the U.S. more competitive with other nations.
Early estimates for North Carolina indicate the legislation will provide billions in funding for the next five years, including:
- $1.1 billion for clean drinking water, wastewater and stormwater infrastructure improvements
- $7.2 billion for roads and highway projects
- $457 million for bridge replacement and repairs
- $910 million for public transportation
- $109 million for electric vehicle charging stations
- $100 million for broadband access
Other aspects of the legislation should provide beneficial investment for the state of North Carolina as well. The state will likely get a portion of the nationwide funding totals for the categories listed below:
- $7 billion for coastal resiliency
- $4.5 billion for flood mitigation
- $17 billion for ports infrastructure
- $25 billion for airports
As we learn more about the national legislation and spending requirements, WithersRavenel can help municipalities develop a funding strategy for their infrastructure needs. Don’t wait to position your community to take advantage of this funding stream, particularly for water, wastewater and stormwater projects. Contact Director of Funding Services Jessica Leggett at (919) 535-5170 or email@example.com.