The Virginia Business Council (VBC), comprised of the senior executives of nearly 30 major corporations providing significant tax revenue and employment for Virginia citizens, has long expressed concern about the need for increased investment in Virginia's transportation infrastructure.
The VBC believes that a comprehensive and well functioning transportation system is a critical component of continued economic growth and development in Virginia. An efficient commercial transportation and distribution system is vital to the quality of life and economic competitiveness of Virginia and to the mobility and safety of citizens throughout the Commonwealth.
The statistics are staggering. Since the last significant investment in our transportation system in 1986, the following changes have occurred:
Yet, during this same period, state road mileage has increased only 7% while the buying power of each transportation dollar has eroded by 40 cents. These statistics indicate that tangible action must begin now.
According to the VTrans2025 Report, the identified unfunded need for road and transit improvements through 2025 is an estimated $108 billion. This need will only become greater and the transportation problems even more intractable if meaningful action is further delayed. It is therefore essential that our public officials act immediately and urgently to improve our transportation system for the benefit of Virginians.
The VBC believes the following fundamental principles must drive this effort and strongly urges that any transportation investment legislation include:
The VBC believes that these problems must be addressed now and urges the General Assembly to enact necessary legislation during the 2007 session. The VBC stands ready to provide input on comprehensive proposals and support public officials who adhere to our stated principles regarding transportation policy.