SPRINGFIELD, Ill. — The Illinois Department of Transportation, the Indiana Department of Transportation, and the Indiana Finance Authority entered into a bi-state agreement regarding the public-private development of the proposed Illiana Corridor, a 47-mile, east-west highway facility that will connect I-55 near Wilmington, Ill., and I-65 near Lowell, Ind. The agreement outlines each state's roles, responsibilities, and project management duties, as well as project delivery requirements and schedule.
Formalizing the details and expectations of the project into a binding agreement will help to ensure that both states receive the best financing deal possible on the Illiana Corridor and, as a result, the best deal for taxpayers.
"This historic partnership between Illinois and Indiana will pay dividends to the economies in both states," said Illinois Secretary of Transportation Ann L. Schneider. "This agreement solidifies that partnership and our commitment to the success of this project. Moving forward with our regional and local partners, we are not just building a road, but creating jobs, promoting economic development and improving mobility throughout the region."
Reaching this bi-state agreement represents yet another significant milestone for the Illiana Corridor project.
"The agreement enables us to move the project along efficiently in connecting our distribution centers and trucking corridors to the rest of the world," said INDOT Commissioner Karl Browning. "By working together, we can expedite giving Hoosiers and Illinois taxpayers much-needed roadway infrastructure, and help enhance the economy for local communities in both states."
IDOT, INDOT and the Federal Highway Administration are joint-lead agencies for the National Environmental Policy Act study process, working with communities along the corridor since the beginning to craft an overall vision for the development, including:
- Local and regional traffic improvements
- Economic development
- Environmental protection
- Support for individual visions for each community
- Local and regional planning
The Illiana Corridor project is projected to create 13,000 construction jobs, resulting in an estimated $1.3 billion in wages over a 35-year period and $1 million in daily travel time savings.
Both states are reaching out to local disadvantaged, women, and minority-owned businesses, and other small business enterprises to encourage active participation in the design, construction and operation of the Illiana Corridor.
For more information on development of the Illiana Corridor and to view the agreement, visit www.IllianaCorridor.orgP3.