Illinois and Indiana, which together are procuring the bi-state toll road project, have entered into an agreement that outlines each state’s responsibilities, project management duties, as well as project delivery requirements and schedule, according to a statement.
“Formalizing the details and expectations of the project into a binding agreement will help to ensure that both states receive the best financing deal possible on the Illiana Corridor and, as a result, the best deal for taxpayers,” the Illinois Department of Transportation (IDOT) and the Indiana Department of Transportation (INDOT) said in the joint statement.
The Illiana Corridor project is a proposed 47-mile highway that extends from Interstate 55 (I-55) in Illinois to the west to Interstate 65 (I-65) in Indiana to the east.
The two states are working together on Illiana but are separately procuring their own public-private partnership (PPP; P3) to deliver their respective parts of the project.
A total of 11 consortia – five for the larger Illinois portion and six for the Indiana portion – were shortlisted in February.
The project is expected to create 13,000 construction jobs, resulting in an estimated $1.3 billion in wages over a 35-year period and $1 million in daily travel savings, according to the statement.