ECONOMIC DEVELOPMENT HIGHWAY PROGRAM

Providing up to $35 million in general obligation bonds to cover construction and improvements costs incurred while improving highways and road facilities to make business sites more accessible, the Economic Development Highway Fund is available to businesses that engage in agriculture, aquaculture, mariculture, processing, distribution, warehousing, manufacturing, research and development, air transportation maintenance facilities, large hotels and resorts, movie industry studios, and regional shopping malls. A high economic benefit project is any new private investment of $50 million or more by a company in land, buildings, or depreciable fixed assets, or an investment of at least $20 million by a company which has statewide capital investments of at least $1 billion in the aggregate.