Governor Glenn Youngkin Announces Investment in Road Improvement Project to Enhance Economic Growth

Governor Glenn Youngkin Announces Investment in Road Improvement Project to Enhance Economic Growth

RICHMOND, VA - Governor Glenn Youngkin today announced the allocation of $30.1 million from the Transportation Partnership Opportunity Fund (TPOF) to the City of Suffolk for the Route 460 Road Improvement Project to support the Port 460 Logistics Center Development in Hampton Roads. This Project is vital to the future growth of the Port of Virginia and the economic growth of the City of Suffolk and Virginia as a whole.

"Our investment in the Route 460 Road Improvement Project and Port 460 Logistics Center Development demonstrates our commitment to provide best-in-class infrastructure for Virginians, commerce and prospective businesses," said Governor Glenn Youngkin."Through the power of partnership, we're expanding the Port's operations and we're accelerating a good growth engine for the Commonwealth"

The Port 460 Development is a new 540-acre industrial commerce park located in Suffolk along Route 460 and the Route 58 Bypass. The development is being built in response to the recent increased activity and future capacity at the Port of Virginia. Situated at the intersection of two critical freight corridors heading west from the Port, Route 58 and Route 460, Port 460 has seamless access to the entire Norfolk region as well as Interstates 85 and 95, offering extensive connectivity to the major metropolitan areas of the Eastern Seaboard.

The City of Suffolk is proposing the widening and modernization of a 2.3 mile stretch of Route 460 from the Route 58 bypass to Lake Prince Drive as well as a redesign of the interchange. The dedicated TPOF funds will advance the road project's right-of-way acquisition and utility relocation phase. The total estimated cost of the project is $86.8 million.

"This is a fantastic project that I'm proud to support," said Virginia Secretary of Transportation W. Sheppard Miller III. "Providing TPOF funding to improve the connecting transportation network to support economic development and growth is what these funds are intended to do. It supports the continued development of the Port of Virginia, the most efficient container port in North America."

"Supporting economic and commercial development across a growing Virginia requires continued funding," said Virginia Secretary of Commerce and Trade Caren Merrick."I am pleased to see that the Port of Virginia is receiving the means to match our incredible growth."

"Improving Route 460 is critical to helping support and grow The Port of Virginia and the benefits this port brings to the Hampton Roads region and the entire state," said CEO and Executive Director of the Virginia Port Authority Stephen A. Edwards. "Investing in improvements to that highway will benefit the effort to bring more speculative development, like the Port 460 Logistics Center, to the area, which will help attract port users and grow our cargo volumes. Additionally, this will improve commuter safety, create investment in the 460 corridor and drive job growth. This is a forward-thinking decision that will create opportunity and serve multiple interests."

"The investment of TPOF funds in the Route 460 Road Improvement Project will benefit the entire Hampton Roads region," said Speaker Don Scott. "By making such investments in transportation infrastructure, we are better connecting our region, state and nation to the rest of the world-all while driving economic development and expanding opportunities for Virginians. I look forward to seeing the benefits of today's investment for years to come."

"The allocation of TPOF funds by the Governor and Commonwealth Transportation Board to the Route 460 Road Improvement Project is a smart investment for the Commonwealth," said Senator Emily Jordan."Not only will this investment support the Port of Virginia, but will provide infrastructure that will benefit Suffolk and its residents as well as the surrounding region for future economic opportunity."

"I fully support the Commonwealth Transportation Board's allocation of $30 million to the Route 460 Improvement Project in Suffolk, Virginia," said Delegate Nadarius Clark. "This investment will enhance road safety, reduce congestion, and improve daily commutes for our residents. Additionally, it will attract businesses, stimulate growth, and create jobs, benefitting the entire Suffolk community. I look forward to the positive impact these improvements will have on our community and remain dedicated to advocating for continued investment in our infrastructure."

"This significant allocation of Transportation Partnership Opportunity Funds by the Virginia Commonwealth Transportation Board provides a rare opportunity to address a projected traffic mitigation concern before it becomes a major issue," said Mayor of Suffolk Michael D. Duman. "This funding allows Suffolk to move ahead with Route 460 corridor improvements that will accommodate the economic growth created by the Port of Virginia and the development of the Port 460 Project. I would like to thank Governor Youngkin, the Commonwealth Transportation Board, Secretary of Commerce and Trade Caren Merrick, Secretary of Transportation Shep Miller, along with Deputy Secretary John Lawson, Senator Emily Jordan, and all the federal, state and regional partners who supported this request."

The Code of Virginia authorizes the Governor to direct TPOF funds to the Commonwealth Transportation Board (CTB) for transportation projects determined necessary to support major economic development initiatives or to enhance the economic development opportunities of the Commonwealth's transportation programs, if recommended by the Secretary of Transportation and the Secretary of Commerce and Trade. The Governor considered and approved this recommendation in June 2024 and advanced it to the CTB for action at its July meeting.

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