Improvements in Infrastructure Generates Economic GrowthCategories: Mayor's Blog
Investments in infrastructure lay the foundation for economic development and growth. Upgrading roads, bridges, power transmission lines and making other improvements create jobs. When completed, these projects help a community increase its revenue and improve its citizens’ quality of life.
The Political Economy Research Institute estimates that the United States must invest at least $87 billion per year to maintain and improve the efficiency and productivity of its economy. But U.S. infrastructure investments earn a fine return. Each $1 billion investment potentially creates approximately 18,000 jobs.
In Kannapolis and throughout Cabarrus County we have embarked on a number of infrastructure projects that will benefit businesses in the area, as well as our citizens.
The North Carolina Department of Transportation (NCDOT) is well underway in its process of widening Interstate 85 from N.C. 73 to Lane Street – Exits 55 to 63. The project promises to ease the flow of traffic through Cabarrus County.
According to the NCDOT, traffic volumes on I-85 range from 92,000 AADT (Average Annual Daily Traffic) near the U.S. 29/601 interchange to 75,000 AADT near the N.C. 152 interchange in Rowan County. NCDOT project planning engineer Leza Mundt claims traffic volume on I-85 will increase by 2 percent annually over the next 20 years, with increases on intersecting roadways also expected to increase. Improvements to Exits 58, 60 and 63 are designed to accommodate that future growth.
Additionally, the City is working with the NCDOT on a widening project for NC-3 in Kannapolis. The project, which will consist of widening the roadway from two to four lanes and incorporating bike lanes, is slated to begin in June of 2015.
Improving infrastructure around Kannapolis and throughout Cabarrus County is a major focus for the NCDOT and our elected officials. We believe these projects will be a huge asset to businesses located in Kannapolis, our citizens and those institutions looking to relocate to our area!