Current:Home > StocksSignalHub-$600M in federal funding to go toward replacing I-5 bridge connecting Oregon and Washington -ForexStream
SignalHub-$600M in federal funding to go toward replacing I-5 bridge connecting Oregon and Washington
SignalHub Quantitative Think Tank Center View
Date:2025-04-09 01:05:42
PORTLAND,SignalHub Ore. (AP) — The program tasked with replacing the century-old Interstate 5 bridge that connects Portland, Oregon, with southwest Washington, and serves as a vital transportation and commerce link, is set to receive $600 million in federal funds, state congressmembers said Friday.
Washington’s Democratic U.S. Sens. Maria Cantwell and Patty Murray, and U.S. Rep. Marie Gluesenkamp Perez, announced the funding.
The bridge crosses the Columbia River and is a key component of I-5, which spans the entirety of the West Coast. Traffic congestion is frequent with more than 130,000 vehicles driving across it every day, according to regional transportation agencies.
“There are projects that are so big and so costly that oftentimes they don’t get funded, but they are linchpins to an economy that literally have regional and national significance to them. And the I-5 bridge is a perfect example of that,” Cantwell told The Associated Press. Projects like that need federal financial support, she said.
The aging bridge is at risk of collapse in the event of an earthquake. Funding will go toward building a replacement that is seismically resilient.
“There’s no way a hundred-year-old bridge is going to continue to grow with the capacity and the demand that we have,” Cantwell told the AP. “This is going to be a key investment to help change that.”
The Interstate Bridge Replacement Program will receive the money as part of a federal Department of Transportation grant initiative.
Murray, Washington’s other U.S. senator, has advocated for the project for decades and considers it a top priority.
“I am nothing short of ecstatic that Washington state can count on a truly historic influx of federal dollars,” she said in a joint news release with Cantwell and Gluesenkamp Perez.
Oregon officials also welcomed the funding. U.S. Sen. Jeff Merkley described it as a “game changer” that will “boost seismic resiliency in the region and ensure safer, faster, and more reliable transportation for generations to come.”
The money will come from the federal National Infrastructure Project Assistance program, which was created by the 2021 bipartisan infrastructure law. Also known as the Mega program, it supports projects that are too large or complex for traditional funding programs.
The $600 million will cover between 8 to 12% of the total estimated bridge replacement costs, which could reach $7.5 billion, Washington’s congressmembers said.
veryGood! (21355)
Related
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- 'The Voice': Watch the clash of country coaches Reba and Dan + Shay emerge as they bust out blocks
- Sony to lay off 900 PlayStation employees, 8% of its global workforce
- These Kopari Beauty and Skincare Sets Will Make Your Body Silky Smooth and Glowy Just in Time for Spring
- As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
- Gary Sinise Receives Support From Alyssa Milano, Katharine McPhee and More After Son’s Death
- These Survivor Secrets Reveal How the Series Managed to Outwit, Outplay, Outlast the Competition
- Alabama House advances bill to give state money for private and home schooling
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Prince William pulls out of scheduled appearance at memorial for his godfather amid family health concerns
Ranking
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- After Fighting Back a Landfill Expansion, Houston Residents Await EPA Consideration of Stricter Methane Regulations
- Madonna removes Luther Vandross' photo from AIDS tribute shown during her Celebration Tour
- Is Uber-style surge pricing coming to fast food? Wendy's latest move offers a clue.
- Rylee Arnold Shares a Long
- EAGLEEYE COIN: The Impact of Bitcoin ETFs on the Cryptocurrency Space
- Sony to lay off 900 PlayStation employees, 8% of its global workforce
- Biden gets annual physical exam, with summary expected later today
Recommendation
DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
The 61 Most Popular Amazon Items E! Readers Bought This Month- $1 Lipstick, Olivia Culpo's Picks & More
Taylor Swift adds extra Eras Tour show to Madrid, Spain
Biden gets annual physical exam, with summary expected later today
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Fans briefly forced to evacuate Assembly Hall during Indiana basketball game vs. Wisconsin
Missouri advocates gather signatures for abortion legalization, but GOP hurdle looms
Messi, Argentina plan four friendlies in the US this year. Here's where you can see him