To help stretch federal and state funds, the Department of Transportation is conducting a pilot program for "state infrastructure banks."

Created in April, the pilot banks in 10 states may be capitalized with up to 10% of their state's federal transportation funds and additional state funds. For instance, the Texas infrastructure bank has $160 million in capital, $80 million from Uncle Sam and $80 million from the state.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.