Percent of Economic Development Funds Committed to Projects - 7b

The Cost Share Program builds partnerships with local entities to pool efforts and resources to deliver state highway and bridge projects. Funds are set aside for projects that demonstrate economic development. 

Embed
Is Responsive
Embed Code

Result Driver

Contact Photo
Todd Grosvenor
Todd Grosvenor
Title
Financial Services Director
Department
Financial Services
Contact Info

Email: Todd.Grosvenor@modot.mo.gov

Phone: (573) 751-4626

Measurement Driver

Contact Photo
doug photo
Doug Hood
Title
Assistant Financial Services Director
Department
Financial Services
Contact Info

Write Up:

The Cost Share Program builds partnerships with local entities to pool efforts and resources to deliver state highway and bridge projects. Funds are set aside for projects that demonstrate economic development. MoDOT works in cooperation with the Department of Economic Development and local entities to determine when targeted investments can be made on projects that produce the most economic impact for Missouri. Projects selected for the set-aside funds may be funded up to 100% of the project cost. The set-aside funds increase from 10% to 20% starting in 2024. Tracking this data ensures economic development funds are being utilized.  

At the end of the fourth quarter of fiscal year 2021, $11,819,788 of economic development funds are available for eligible projects. The FY 2021 and FY 2022 allocations include $2.3 million of project savings from prior years. Currently, only 50% of the FY 2024 allocation is available. During the fourth quarter of FY 2021, no funds were committed to projects.  MoDOT continues to work with DED to identify projects that demonstrate economic development.

Purpose of the Measure:

This measure tracks the percent of economic development funds committed to projects.

Measurement and Data Collection:

Data for this measure is collected from a partnership database.