540 on-ramp signals – interim report highlights initial successes
NCDOT and NC State University have developed an interim performance report or the on-ramp signals along I-540 in North Raleigh. Among the highlights are a significantly reduced average peak period (22 minutes shorter, now 1 hour 9 minutes with on-ramp signals vs. 1 hour 31 minutes previously) and a 5% reduction in congestion along the corridor, with 70% of drivers using 540 and its access roadways experiencing shorter drive times. While on-ramp signals cannot create new capacity, they enable the 540 freeway to better utilize its inherent capacity, by delaying the onset of congestion and minimizing its duration.
Turnpike gets a better deal — and as a result, so do all of us
Our friends at the NC Turnpike Authority have successfully refinanced some of their outstanding debt – again – which will again benefit our region and state. The most recent refinancing saves on future interest payments, to the present value tune of more than $10 million. This improves the financial standing of the Turnpike Authority and its debt – multiple rating agencies recently upgraded it (again) – and provides additional financial flexibility going forward, which could translate into future reduced toll rates or toll durations. The Triangle Business Journal has a nice piece on it here.
Business leadership must make the difference as we grow
This region has developed effective mobility infrastructure due to sound policies, great transportation partners, beneficial geography — and sustained business leadership. We know that our region will continue to be attractive for corporate recruitment and expansion given our solid market fundamentals. We also know that the RTA business coalition must also continue to grow to keep our region moving faster. Please consider inviting a peer company to learn more about RTA this spring.
Thank you for your investment in regional business leadership on transportation!
Let’s get moving,
Joe Milazzo II, PE
RTA Executive Director