10 Biggest Infrastructure Projects
More than a simple network of roads and rails, infrastructure is a crucial building block of capitalism. Its ingredients – energy, metals, and materials – are all traded on the stock exchange, and these trades have far-reaching impact. Governments are just now realizing that there is money to be made from trading infrastructure, making this one of the hottest markets around.
The US government's Recovery Act of 2009 made $275 billion available for federal contracts, grants and loans. Aside from education, transportation infrastructure work has received more federal contracts, grants and loans under the act than any other sector. Here, we take a look at the top 10 largest grants awarded by the Department of Transportation.
Posted: 22 Oct., 2010
Source: Recovery.gov
10. Chicago Transit Authority
Grant: $191.300 million
Jobs created: 40
About the project: Chicago is using these funds for reconstruction of passenger rail stations; improvement of work facilities; rehabilitation of track systems and the purchase of new rolling stock, as well as preserve and create jobs and to promote economic recovery.
9. California Department of Transportation
Grant: $192.357 million
Jobs created: 49
About the project: This is a flexible grant available for use in any area of highway, street and bridge construction.
8. Metropolitan Transit Authority, NY
Grant: $195.410 million
Jobs created: 445
About the project: This grant is helping to fund New York City's East Side Access, which will connect the Long Island Rail Road’s (LIRR) Main and Port Washington lines in Queens to a new LIRR terminal beneath Grand Central Terminal in Manhattan. The new connection will increase the LIRR’s capacity into Manhattan, and dramatically shorten travel time for Long Island and eastern Queens commuters traveling to the east side of Manhattan.
7. Los Angeles County Metropolitan Transit Authority
Grant: $225.154 million
Jobs created: 190
About the project: The grant allows LA's MTA to purchase buses, overhaul buses, design and construct emergency egress, purchase fiber optic transmission equipment and replace aging traction power substations and associated electrical support systems.
6. Texas Department of Transportation
Grant: $249.999 million
Jobs created: 172
About the project: The grant is being used to construct and re-construct freeway, frontage roads and ramps in and around Grapevine, Texas, a suburb of the Dallas/Fort Worth metroplex.
5. Metropolitan Transportation Authority, NY
Grant: $254.407 million
Jobs created: 239
About the project: The grant is being used for numerous Metro-North Railroad projects, including Tarrytown platform and canopies rehabilitation, Poughkeepsie Station building windows and doors repair/replacement and Grand Central Terminal elevators.
4. New Jersey Transit Corp.
Grant: $288.703 million
Jobs created: 747
About the project: New Jersey Transit is using this grant for 13 different projects, including the new trans-Hudson commuter rail tunnel from northern New Jersey to a new station under 34th Street.
New Jersey Gov. Chris Christie, a Republican, pulled state funding for the tunnel on Oct. 7 but is reconsidering his decision at the request of U.S. Transportation Secretary Ray LaHood.
3. Metropolitan Transportation Authority, NY
Grant: $397.744 million
Jobs created: 361
About the project: The grant is being used for numerous public transportation projects for New York City Transit, Long Island Rail Road, Poughkeepsie Station Building, Grand Central Terminal Facilities Project, Union Square and line rehabilitation and station work throughout the metropolitan area.
2. Metropolitan Transportation Authority, NY
Grant: $423.325 million
Jobs created: 147
About the project: This grant supports the completion of the Fulton Street Transit Center at Broadway and Fulton Street in Lower Manhattan. It will improve access and connectivity among 10 subway lines, create modern retail spaces, provide improved passenger amenities and make the entire complex ADA compliant. The project includes the restoration of the historic Corbin Building and the associated operating systems.
1. National Railroad Passenger Corp.
Grant: $1.293 billion
Jobs created: 1,752
About the project: The Amtrak grant is a national program with 205 individual projects being implemented across 46 states and the District of Columbia. Due to the fact that the projects are carried out principally by individual vendors or contractors, all jobs in this report are reported as if they are performed in Washington, DC, the location of Amtrak's headquarters.
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