ANNAPOLIS, Md.--(BUSINESS WIRE)--With MDOT today announcing Transurban & Accelerate Maryland Partners, LLC as the chosen developer for the I-495 & I-270 Managed Lanes Study, the Maryland Transportation Builders & Materials Association (MTBMA) reasserts its solid commitment and support of this transformative project for the state’s residents and its economy.
Today’s announcement was the result of an exhaustive process that began nearly two years ago. MDOT considered bids from four developers. MDOT’s final selection comes after more than 170 hours of work by its team and is based on the overall best value and a focus on transit investment. The selection team included input from Montgomery County and Frederick County, the counties’ transportation departments, and the Maryland Division of the Federal Highway Administration. Although all developers met the requirement of integrating transit systems within their proposals, the selected group included transit system funding more than its competitors.
MTBMA and its members testified in numerous hearings regarding the project, including twice before the Board of Public Works and Governor Larry Hogan. Over the years, MTBMA articulated the positive impacts of this project, stating that Marylanders need this type of transportation investment now, more than ever. Over the last two years, MTBMA and the transportation industry fought against nearly 30 anti-progress bills.
“We are excited that Governor Hogan and MDOT's Traffic Relief Plan has reached this stage as we need to implement solutions that will reduce congestion and help millions of Maryland drivers, as well as improving our overall economy and quality of life for all in the DMV region,” says MTBMA chairman & general manager of Concrete General, Michael Higgins.
Phase 1 South of the project includes the Virginia side of the American Legion Bridge to I-370 (ICC). This phase will cost approximately $3.5 to $4 billion, and will provide at least 7,500 new jobs per year for the next five to six years. The project will generate more new jobs than any Maryland county has created in over a decade. Transit investment is a substantial percentage of the $3.5 billion. Upfront costs will reimburse the state and result in a no-net cost to the state.
“The I-495 & I-270 Managed Lanes Study will provide a much-needed shot in the arm for Maryland’s economy as it recovers from the pandemic, with thousands of good jobs and contracting opportunities for Maryland companies,” said Michael Sakata, MTBMA president and chief executive officer. “Ensuring this project can continue to move forward should be of the utmost importance to all Marylanders, both legislators and the general public alike.”
About Maryland Transportation Builders & Materials Association:
MTBMA promotes and protects the needs of the transportation construction and materials industry.
