Keep up with essential planning news and commentary, delivered to your inbox every Monday and Thursday.
The Oil Production Boom in New Mexico Could Mean More Money for Roads
"New Mexico’s oil boom could mean big bucks for statewide road projects," reports Dan Boyd.
Members of a key legislative committee are promising $300 million to $400 million in funding for state roads, to be allocated by the state's Department of Transportation. There are already numerous ideas under consideration for how the state could spend the extra money to repair a system with $1 billion in repairs identified by the DOT.
"Due primarily to a steady increase in oil production levels, New Mexico is on track to end the current budget year in June with a more than $1.2 billion budget surplus," according to Boyd.