Governor Goes On-The-Road For Illiana Corridor
June 21, 2013 — Indiana Governor Mike Pence will discuss transportation in Northwest Indiana at the Illiana Corridor Industry Forum in Rosemont, Illinois Monday, June 24, 2013. His staff says Pence will discuss transportation with Illinois Governor Pat Quinn at the forum which they’ll keynote.
Illiana-area public meetings held jointly last Monday and Tuesday, June 17-18, 2013, by the Departments of Transportation for Indiana and Illinois met resistance from residents along the path of the prospective Illiana Corridor route. The proposed highway project involves a plan to connect Interstate 65 in south Lake County, Indiana with I-55 west of Peotone, Illinois with a divided highway more than 40 miles long.
At those meetings Illinois (IDOT) and Indiana (INDOT) Departments of Transportation presented revisions to their draft working alignment and plans for local road connectivity and interchange design concepts. Its refinements also involved overpass/underpass placements and environmental protection. INDOT says, “The Illiana Corridor will not only have a positive effect on freight and other interstate travel throughout the country, as this region is one of the busiest intermodal hubs, but it will also allow for improved accessibility on local and arterial roads, to improve economic opportunities.”
The joint DOT agencies expect Monday’s event to attract more than 1,000 attendees, “ranging from local laborers, contractors and DBEs to international investors and construction management companies.” Illiana Corridor managers say that, “When built, the Illiana Corridor Project will reduce the strain of truck traffic on local roads, thereby improving safety, travel times, and accessibility to jobs. Potential economic benefits include the creation and retention of more than 9,000 construction jobs and more
than 25,000 long-term jobs.”
Monday’s conference includes a keynote address from Illinois Governor Pat Quinn and Indiana Governor Mike Pence in an event intended to facilitate networking between local and national contractors and investors toward public/private project financing.
Governor Pence says, “This forum is the best way for partners to bring their innovative ideas to the table to inform this project, to help shape it, and perhaps make it an example for future infrastructure
Illinois Department of Transportation says, “Public Private Partnerships (P3) have been used for decades internationally, and have become a key project implementation strategy over the past 15 years in the United States. A P3 is an agreement between a public agency and a private entity to design, build, finance, operate and maintain a project. The private investor may consist of a team of engineering
firms, construction companies and financiers. A typical P3 would involve the private party providing the financing, construction services, and potentially operations and maintenance services over an extended period. Tolling or combinations of fund sources would be used to reimburse the investor over an agreed upon period.”