NASHVILLE, Tenn. (AP) – Tennessee’s annual estimated cost for its needed public infrastructure improvements is now nearly $50 billion, marking an increase for the third straight year.
According to the Tennessee Advisory Commission on Intergovernmental Relations, that estimate is up by $5 billion – or around 11 percent – from last year. The group released the report this week.
Transportation and utilities projects make up most of the costs, with $25.9 billion projects identified that need to be in some sort of development between now and 2022. The second highest category was education improvements, like school renovations and additions, with $13.6 billion projects identified.
However, the report also notes that funding for more than two-thirds of the estimated costs of the needed improvements were not available when conducting the inventory.