Illinois Gov. Pat Quinn last week announced a $12.8 billion highway improvement program for fiscal 2011 through 2016 that’s projected to create 167,000 jobs.

“I have made it my priority to invest in our state’s infrastructure, which will spark economic growth in local communities across the state by putting more people to work while improving public safety,” Quinn said. “With the recent passage of Illinois Jobs Now, the first jobs and capital program in over a decade, we look forward to the most robust construction season in the state’s history and the benefits it will bring to Illinois.”

 The program relies on $7.3 billion in federal funds, $4.9 billion in state funds — including $2.49 billion from the state’s bond-financed $31 billion capital program — and $660 million in local matching funds.

The six-year highway improvement program includes $10 billion for improvements to the state highway system with $2.7 billion available for local roads.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.