The state and local communities would gain about 1,000 jobs and millions in tax dollars with reconstruction of a major highway interchange in central Ohio, according to a report released as officials formally kicked off the project.
State transportation officials on Oct. 14 released a report on the expected economic impact of rebuilding the Interstate-70 and I-670 interchange, the Columbus Dispatch reported.
The project is expected to take three years and cost $200 million. It is one of three aimed at reducing crashes and relieving congestion on downtown Columbus freeways.
The report estimates the project will create or sustain 386 construction jobs and 68 professional and technical jobs, and that more than 500 other jobs will be supported as those workers spend their income.
Economic benefits will not only help the construction zone but retail, financial and other job sectors, the report says. It estimates it will bring $5.3 million in taxes to the state and $23.7 million to local governments.
“These indirect impacts are as much a part of the economic impact of the project as are the direct impacts,” says the report by consultant Bill Lafayette, a former Columbus Chamber economist.
The newspaper reports the interchange handles about 137,000 vehicles each day — double the amount for which it was designed.
The state’s other two projects in Columbus, rebuilding the interchange at I-70 and I-71 and the stretch of I-71 between the two interchanges, will cost about $368 million and are estimated to take through 2015 to complete.
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