In this week's Business Report with Justin Catanoso: North Carolina has long been recognized as having one of the best highway and roads systems in the country. But trusted revenue streams are in decline and so are the state's roads.
“With more people turning to fuel efficient vehicles or just keeping their cars and vehicles longer, there is less revenue coming from the gas tax, so state officials are trying to come up with an alternative, ” says Katie Arcieri, a reporter with the Triad Business Journal.
As a result, state officials are looking at new funding options.
“Well, there are a lot of options under consideration: everything from tolling, to new fees, to charging for services that are currently free, as well as something called a road usage charge program called vehicle miles traveled,” says Arcieri.
"Why is it so important that we have this new transportation funding, specifically in the Triad?" Catanoso asked. “In Winston-Salem, the urban loop has not been completed yet and they need millions of dollars to finish that project. The money would help ease traffic congestion in and around the city to open up different corridors for business parks, economic development, and jobs.”
The Business Report on 88.5 WFDD is a partnership with the Triad Business Journal. You'll find Katie Arcieri's story and more breaking business news at Triad.Bizjournals.com.
Justin Catanoso is director of the Journalism program at Wake Forest University and a regular contributor to 88.5 WFDD.
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