On Friday, the US DOT awarded TIGER 2012 funds to 47 projects totaling $500 million -- far less than the $10.2 billion that was asked for from an astounding 703 applications from all 50 states.
U.S. Transportation Secretary Ray LaHood announced the grants on Friday, with 47 projects in 34 states receiving funding for the next round of TIGER grants, TIGER 2012, totaling $500 milllion. As Jim O'Grady writes in Transportation Nation, "[i]n many cases, these grants will serve as the final piece of funding for infrastructure investments totaling $1.7 billion in overall project costs."
Quoting LaHood, O'Grady states, "'President Obama's support for an America built to last is putting people back to work across the country building roads, bridges and other projects that will mean better, safer transportation for generations to come,' said Secretary LaHood. 'TIGER projects mean good transportation jobs today and a stronger economic future for the nation.'"
Of the $500 million, some will go to key areas such as a sizable $120 million going directly to rural areas in need of road and bridge repairs. Funding will also go towards mass transit in the form of high-speed rail and multimodal projects at 13% and 12% of funds, respectively.
FULL STORY: US DOT Doles Out $500 Million to Transportation Projects Around U.S.
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