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$1B infrastructure project is a game changer for the Quad Cities region

The Interstate 74 (I-74) Corridor project is set to enhance circulation, increase efficiency, and bolster overall economic activity throughout Iowa’s Quad Cities. Part of a $1 billion investment by the Iowa and Illinois Departments of Transportation, the three-pronged regional strategy includes the 2003 removal of tolls from the Centennial bridge as well as the construction of a state-of-the-art bridge connecting Bettendorf with East Moline.

It is estimated that the Iowa DOT contributed around $500 million to the project, while Illinois DOT contributed $650 million. These investments support projects to increase safety, enhance mobility, and increase overall economic vitality for current and future residents, business owners, and stakeholders throughout Davenport, Bettendorf, Rock Island, Moline, and East Moline.

Though the region has been growing steadily over the years, construction of the new I-74 bridge is essential to support anticipated growth to the region’s population and employment base. In 1998, the Quad Cities Metropolitan Area population hovered around 300,000. By 2025, the population is expected to climb to almost 350,000, an increase of 20%. It is also notable that the employment base is expected to increase more than 30% over the same period.

Each of the region’s cities stands to benefit from enhanced circulation that the I-74 corridor project delivers, and each community is taking steps to plan for growth. The Quad Cities as a region is poised for success, and these improvements to the I-74 corridor will serve as the foundation for decades of prosperity.

Interested in learning about development opportunities in the region?

Check out real estate development opportunities in Bettendorf

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Key Project Data

  • Quad Cities: Davenport, Bettendorf, Rock Island, Moline, and East Moline.
  • Metro region population 425,909
  • Labor force population 220,000
  • Median household income $51,678
  • The new bridge is designed to almost double vehicle traffic per day (90,000 vehicles per day)
  • the project is expected to create or retain 1700 jobs
  • Expected construction to begin in late 2017 and planned for 5 years
  • $1 billion in planned development

Sources:

http://wqad.com/2013/11/18/new-i-74-bridge-will-finally-be-a-reality/
http://www.iowadot.gov/I74corridor/Overview/quick.htm
http://www.iowadot.gov/i74corridor/Overview/faq.htm