Construction industry voices concerns about impact of a proposed moratorium on state bonding

The press release below was sent by the Connecticut Construction Industries Association

This morning, after the State Bond Commission meeting, State Senator Scott Frantz, (R- Greenwich) called for a moratorium on bonding that could last up to two years or more. The construction industry is concerned that a moratorium on state bonding would interrupt the state’s much needed transportation program, impeding mobility, compromising safety, stalling economic activity, and eliminating jobs.

“One of the most positive initiatives that Connecticut has going for it is that it is embarking on a five-year ramp up to a much needed transportation program.  An interruption in the state bonding program would effectively stall those efforts.” said Don Shubert, president of the Connecticut Construction Industries Association.

Shubert said that “It is well-acknowledged that making needed improvements to roads, bridges and public transit could provide a significant boost to the state’s economy by creating jobs and stimulating long-term economic growth as a result of enhanced mobility and access.”

The 2016 “Lets Go CT” analysis that was prepared by ConnDOT shows that the cost merely to maintain the current levels of service in Connecticut would be nearly $60 billion over the next 30 years, which is effectively double the current program annually.  The report also shows that the cost to have a first-in-class transportation systems would be nearly $100 billion over the same period.

“Dependable, stable funding is the key to success. Any pause or interruption of transportation funding in future years will increase the potential of failing to meet the state’s mobility needs, moving us closer to closing roads and bridges, and cutting service on public transportation.” Shubert said.

Enhancing critical transportation assets will boost the economy in the short-term by creating jobs in construction and related fields. Over the long-term, these improvements will enhance economic activity and the improve the quality of life for Connecticut’s residents and visitors by reducing travel delays and transportation costs, improving access and mobility, improving safety, and stimulating sustained job growth.

“Transportation investments support safety, growth, and our quality of life. Connecticut can’t afford to postpone much-needed investments in its infrastructure,” said Shubert.

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