The project is being delivered as a public-private partnership, a legislated process that enables private companies to partner with public entities, to contribute funding in performance-based, publically available contracts. The Commonwealth owns the Project and VDOT oversees Elizabeth River Crossings’ performance on the fixed-price, date-certain contract.
Elizabeth River Crossings is developing the Downtown Tunnel/Midtown Tunnel/MLK Extension Project with the Virginia Department of Transportation—for improvements to existing tunnels and for an efficient, connected transportation network.
The benefits of this partnership include:
- Job Creation: More than $1 billion of construction works will be handled by local companies. More than 500 Project-direct jobs and more than 1,000 indirect jobs in the community, and with related industry and suppliers, will be created through local suppliers and vendors.
- Local Business Subcontracting: 40% subcontractor engagement goal of local, disadvantaged, minority and women-owned businesses, plus job training and apprentice programs.
- Regional Productivity: The Project will generate an estimated $170-$254 million annual increase in gross regional productivity.
- Accessibility: Increased travel options will provide greater accessibility to jobs, educational facilities, medical services, shopping and recreational activities.
- Improved Connectivity: The Project improves critical links to the various port facilities in the region, supporting the movement of goods and enhancing regional competitiveness.
The project will create hundreds of jobs, plus promote regional economic development. The active involvement of local, disadvantaged, minority and women-owned businesses will strongly contribute to the Project’s success.