NASHVILLE, Tenn. (AP) — A state panel says Tennessee’s annual estimated cost for needed public infrastructure improvements over a five-year period is at least $58.6 billion, a total that’s on the rise for a fifth-straight year.
According to the Tennessee Advisory Commission on Intergovernmental Relations, that estimate is up by $3.8 billion compared to last year, a 6.9% increase.
The group released the report this week for projects that need to be in some state of development from July 2019 through June 2024.
Transportation and utilities projects make up most of the costs at $32.7 billion. The second highest category was education, including, school renovations and additions at $14.2 billion.
The report estimates that 65.1% of the funds required to meet the infrastructure needs were not available at the time the inventory was conducted, compared to 67% percent last year.