Utah’s 2040 Unified Transportation Plan is a statewide plan that addresses the 30 year transportation needs as the state's population grows.
Utah Transportation Coalition Co-Chair David Golden explained, "No other state has been able to put together such a collaborative, comprehensive statewide long-range transportation plan."
Now a new study commissioned by the Salt Lake Chamber's Transportation Coalition shows exactly what the plan is going to cost and what it will result in if completely funded.
$54.7 billion will be needed through 2040 to implement the Unified Plan, but current revenue sources will only generate about $43.4 billion.
Salt Lake Chamber Chief Economist Natalie Gochnour said, "The study concludes if we invest an additional $11.3 billion dollars in new transportation investment over the next 30 years this investment will account cumulatively to 183,000 new jobs over 30 years."
That's 6,000 new jobs a year adding up to more than $130 million in additional household income and more than $22 billion in additional tax revenues.
UTA Advisor Dave Kallas told ABC 4 Utah, "The role of the community will be to decide whether or not to fund the transportation plan."
If those private investors come in with that $11.3 billion, economists say it will pay off significantly.
"The cumulative value of all transportation investment is that our economy works, people and products get to where they need to be,” said Gochnour.
The full study is available at www.slchamber.com/transportationstudy.com