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Project Cost

The construction of the I-520 extension in South Carolina will total approximately $250 million when complete.

Project Schedule

Right of way acquisition, environmental permitting and engineering for Phase II are complete. (See maps above.) The construction of Phase II started in late 2006 and will be completed in 2009.

Benefits

Completion of the I-520 beltway around metropolitan Augusta will reduce the current “infrastructure deficit” in the area and enhance economic development in the region.

Specifically, the Palmetto Parkway will:


• Facilitate economic development in Augusta and North Augusta.
• Serve the expanding North Augusta riverfront and rapidly growing northern area of the city.
• Improve access to I-20.
• Reduce the number of traffic accidents at four of the eight intersections experiencing the most serious accidents in Aiken County.
• Substantially reduce traffic on federally funded arterial and collector roads.
• Improve access to facilities and services in Aiken, North Augusta and Augusta.
• Provide an additional Savannah River crossing and relieve travel demand on the Gordon Highway/Jefferson Davis Highway bridge (US 1) and two other downtown Savannah River crossings, 5th Street, and 13th Street/Georgia Avenue.
• Contribute to the safe transportation of nuclear materials associated with current and
  future missions at the Savannah River Site.
• Create approximately 200 new, permanent full time jobs by the time Phase II is complete.

Feasibility

One of the few unfinished Interstate Highway links in the nation, the South Carolina extension of I-520 through Aiken County is a critical element in the managed growth and development of the Central Savannah River Area. However, earmarked federal funding for the completion of the Interstate Highway system is no longer available and South Carolina has been severely limited in its ability to fund interstate highway maintenance, much less new construction. Because of the magnitude of I-520, multiple sources of funding were necessary. Local funds, South Carolina Transportation Infrastructure Bank funds and federal highway funds have been combined to fund the project.

Local Support

Aiken County, the City of Aiken and the City of North Augusta are unified in their support for I-520. To assist in funding the project, the County, in cooperation with Aiken and North Augusta, referred a “Capital Projects Sales Tax” question to county voters at the November 7, 2000 general election. The referendum passed and the one-cent countywide sales tax generated $54 million over its five-year life. Of that amount, $15 million was earmarked for the Palmetto Parkway. These funds were used to match $65 million in state and Federal Highway Trust funds allocated to the project.

In 2005, county voters approved a second round of the one-cent sales tax, allocating an additional $2 million for Phase II of the Palmetto Parkway. Additionally, through the efforts of Congessman Gresham Barrett and Senators Lindsey Graham and Jim DeMint, the US Congress approved $17 million for the project.