U.S. Transportation Secretary Anthony Foxx today announced a $200 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan from the Federal Highway Administration (FHWA) to finance the construction of additional lanes and improvements on New Hampshire’s I-93 from Salem to Manchester.
The project will reconstruct 19.8 miles of I-93 and widen the roadway from two to four lanes in each direction from Manchester at the I-93/I-293 interchange to Salem at the New Hampshire-Massachusetts state line.
I-93 is one of the state's principal highways and is critical to the economic vitality of the state, region and local communities. Built in the early 1960s to accommodate up to 70,000 vehicles per day, it currently suffers from continuing congestion and is in need of major rehabilitation. Average daily traffic has climbed to an excess of 100,000 vehicles per day on certain segments, and the New Hampshire Department of Transportation expects that number to increase to 140,000 in the next four years. Traffic frequently backs up between the state line and Manchester, especially during morning and evening rush hours.
The TIFIA credit program is designed to fill market gaps and leverage substantial non-federal investments. Historically, each dollar of federal funding has provided up to $14 in TIFIA credit assistance and supported up to $40 in transportation infrastructure investment. In 2016, the USDOT has financed $1.3 billion to support transportation infrastructure across the country.
