- December 23, 2021
- Posted by: Stratford Team
- Category: Business
The State Bond Commission approved over $1.3 billion Dec. 21 to fund a variety of projects, including $839 million for transportation and $124 million for small business growth.
The $839 million will be financed through the recently passed federal Infrastructure Investment and Jobs Act.
Major projects include $280 million to replace diesel locomotives with dual-power locomotives, $30 million for local road maintenance, and $51.7 million for local transportation projects.
“We are about to enter a new era of transportation upgrades that supports the needs of businesses and the people who live there.” Gov. Ned Lamont, who chairs the commission, said in a statement.
The transportation system upgrades comes after the announcement of $5.38 billion in federal funding over the next five years from the infrastructure bill, which includes projects like $3.29 billion to repair roads, accelerate projects, and reduce traffic…
