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Gov Ricketts Explains Road Financing Plan

By John Nxon

02/26/2016

(KLZA)-- During an interview with MSC News this week Nebraska Governor Pete Ricketts talked about the importance of having good roads in Nebraska.

Ricketts says the states top three industries are agriculture, manufacturing and tourism, all of which need a sound infrastructure for growth.

Governor Ricketts is working with Transportation Committee member, Senator Jim Smith to tap into the states cash reserves to use for capital expenses. The idea is to create a transportation / infrastructure bank, utilizing $150-million from cash reserves over eight years, to help with one-time capital expenses.

The plan calls to the use of $100-million for expansion of the state expressway system, $25-million for counties to apply for matching funds for bridge improvements and another $25-million for companies wanting to move to or expand in Nebraska. The companies could apply for funds to help with needs such as building a road or a railroad spur.

Ricketts calls the idea a great way to spur economic growth and make sure the infrastructure is in place to allow the state to grow in the future.

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