The total for the I-540 expansion is expected to cost $225 million. However, if it were to become a toll road, the road would have the potential of generating $100-$130 million in construction bonds. It would be the first toll road in the state. Additionally, many believe that the federal economic stimulus plan that will soon be voted on by the House of Representatives could also bring $80-$100 million for highway construction in Northwest Arkansas.
The potential toll road must be approved by the state Highway Commission or by a vote of the people of Benton and Washington counties.
Dick Trammel was sworn in on Monday as the new highway commissioner. Trammel has expressed urgency in gaining approval for the road so that Arkansas still receives funding from the Missouri Department of Transportation. The state has considered re-appropriating funds for the five mile stretch of the road that will lead to southeastern Missouri.
This newest project is the largest undertaking by the Arkansas Highway and Transportation Department. It is expected to take four years to build the bypass.
The new I-540 extension would mean great things for future growth in Northwest Arkansas, by allowing greater ease for commuting. Are you interested in land investments in Northwest Arkansas? Visit our site at northwestarkansasland.com to see the properties we have for sale in the Bentonville and Highfill areas!
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