The BIL will nearly double the annual financial outlay Virginia has received through the Clean Water State Revolving Fund Program since 2016.
Virginia is one of the most populous states in the United States and is home to a growing economy that relies heavily on transportation infrastructure to move goods and people throughout the state and the country. In recent years, Virginia has made significant investments in infrastructure, particularly in transportation, to improve connectivity and spur economic growth. The American Society of Civil Engineers gave Virginia a C on its infrastructure report card.
The Virginia Department of Transportation (VDOT) manages over 58,000 miles of roads, including 7,500 miles of interstate highways, making it the third-largest highway system in the country. VDOT's annual budget is approximately $5 billion, and it employs over 7,000 people. In addition to highways, Virginia also has an extensive network of railroads, including Amtrak passenger rail service and several freight railroads.
The Port of Virginia is one of the busiest ports on the East Coast and is a major economic driver for the state. In 2021, the port handled over 3 million TEUs (twenty-foot equivalent units) of cargo, a new record. The port also supports over 500,000 jobs and generates over $92 billion in total economic impact.
Virginia has also made significant investments in renewable energy infrastructure, with a goal of having 30% of its electricity come from renewable sources by 2030. As of 2021, Virginia had over 3,500 MW of solar and wind capacity installed, making it one of the top states in the country for renewable energy.
Despite these investments, Virginia's infrastructure faces challenges, particularly with regards to aging transportation infrastructure and a growing population. As of 2021, over 1,200 of Virginia's bridges were considered structurally deficient, and over 2,000 miles of highway were in poor condition. In addition, Virginia's population is projected to grow by over 1 million people by 2040, which will put additional strain on the state's infrastructure.
To address these challenges, Virginia has developed a comprehensive transportation plan, which includes over $3 billion in transportation projects over the next six years. The plan focuses on improving safety, reducing congestion, and enhancing connectivity throughout the state. In addition, Virginia is also exploring innovative financing solutions, such as public-private partnerships, to help fund infrastructure projects.