T-SPLOST critical for economic development
Staff Reports
Over the past 30 years, Georgia has benefited from both a strong economy and a growing population. Unfortunately, both are threatened by the under-investment in our transportation network. In fact, Georgia ranks 49th among all states in per capita spending on transportation.
During the three most recent fiscal years, Georgia only invested about $88 per person per year on our transportation infrastructure. Most Georgians spend this much each month on gasoline or insurance alone. The simple truth is that we cannot build the necessary new roads and maintain the existing roads for just $88 per person.
The actual needed investment is at least twice this amount. Think of the economy of Southwest Georgia: from paper products to crop dusters; from beer to peanuts, corn and cotton; from health care to insurance, banking, homebuilding and the list goes on and on. Virtually every business is directly dependent upon a well-maintained transportation network and every business will suffer from a poorly-maintained network.
We have a unique opportunity on July 31 to significantly increase highway and street construction and maintenance funding. The Transportation Investment Act of 2010 (TIA 2010) provides the mechanism whereby all 12 regions throughout the state have the opportunity to impose a special 1 percent sales tax (T-SPLOST) dedicated to needed transportation improvements within each region.
Southwest Georgia is Region 10, covering 14 counties. If the T-SPLOST is passed, it will be in effect for 10 years and will provide funding of approximately $530,378,773 and is projected to create 14,320 jobs in Southwest Georgia. Of this $530 Million, 75 percent, or $398 million, will be spent on a pre-determined project list across Region 10 and the remaining 25 percent, or $132 million, will be returned to the region