Zero Debt Allows TDOT to Dedicate 100% of Funds to Infrastructure Improvements
Nashville, TN – For the third year in a row, Tennessee’s transportation system ranks as one of the best in the nation, according to CNBC’s 2012 study “America’s Top States for Business.”
According to the report, Tennessee ranks fourth best in America in the category of “Transportation and Infrastructure,” and is the only state topping the list that has no transportation debt.Many states across the nation carry transportation debt, and must allocate a large portion of their funds to interest payments.
“This is significant as we are the only top-ranked state without any transportation debt,” said Tennessee Department of Transportation (TDOT) Commissioner John Schroer. “The next state on the list without debt was ranked 19th. Tennessee is a ‘pay as you go’ state and TDOT will continue to do our part in upholding Governor Bill Haslam’s vision of running an effective and efficient government.”
“We know that access to high-quality infrastructure is a key component to getting products to market and people on the move,” said Kent Starwalt, President of the Tennessee Road Builders Association. “This acknowledgement is a true testament that the department and the industry are working together to foster economic opportunity in Tennessee by providing a superior transportation network.”
The CNBC report scored all 50 states on 40 measures of competitiveness, including the vitality of each state’s transportation system. Tennessee also ranked well in the categories of business friendliness and cost of living. This is the sixth year the news network has performed the study.
To view the CNBC report, see: America’s Top States for Business 2012 – Infrastructure and Transportation