Press Releases
11/17/2015
Gov. Malloy Releases Economic Impact Numbers of Replacing the Hartford Viaduct
(HARTFORD, CT) - Governor Dannel P. Malloy today announced that an economic analysis performed on the I-84 Viaduct in Hartford demonstrates that the benefits of replacing the aging, 2.5-mile stretch of highway are two to three times the cost of its anticipated replacement. Replacement - rather than inaction - will generate billions in economic activity while supporting thousands of jobs. Allowing the Viaduct to deteriorate will impose huge costs on travelers as well as to businesses.
The analysis determined that while the project has an estimated cost of $3.4 billion, its future benefits amount to $9.2 billion - a net gain of $5.8 billion, amounting to a benefit/cost ratio of 2.68.
Further, the study found that on a long-term basis, the viaduct will result in over $10.2 billion in long-term cumulative business sales and output - $6.1 billion in additional gross state product and $4.2 billion in additional wage income. The project is expected to support 3,000 to 7,000 construction jobs during the construction phase. For every year following the opening of the new facility, the improved transportation efficiency and lower travel and shipping costs will support the creation of 2,500 to 3,500 jobs over the life of the new facility.
"We know that for decades Connecticut underinvested, and we know that our failure to do so curbed our ability to attract businesses and grow our economy. Today, we're saying that the cost of inaction far outweighs the cost of action - that making a down payment on a project that we must replace will generate billions in economic activity and grow thousands of jobs. To move our state forward, we must make our infrastructure best-in-class," Governor Malloy said. "This 50-year old structure is overdue for replacement - it costs millions each year in maintenance costs to keep it in a state of good repair. We have a clear opportunity to do the smart, proactive step and build for the long-term. Let's seize it."
"The time for action is now," Connecticut Department of Transportation Commissioner James P. Redeker said. "The people of Hartford and the surrounding area, employers and visitors are counting on those of us in a position to make these decisions to move this project forward. The cost of not doing so in terms of jobs and related economic activity is unacceptable."
The I-84 Hartford Viaduct is 2.5 miles long and includes approximately 4.5 miles of viaduct structures with a total deck area of over 1.3 million square feet, or about 30 acres. Built in the 1960s, it was designed to have a 50-year service life and serve 55,000 vehicles per day. Today, it serves 170,000 vehicles per day, making it the busiest section of highway in Connecticut.
While the outdated structure is in an advanced state of deterioration, the Connecticut Department of Transportation has spent approximately $60 million between 2002 and 2012 to rehabilitate the corridor, with an additional $60 million programmed for repairs in the next three to five years to keep the bridges in a state of good repair.
**Download: The Economic Value of the I-84 Viaduct in Hartford
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