The Midland Development Corporation Partners with the City of Midland and TxDOT to enhance safety and improve access on Loop 250 at County Road 1150
30 Apr 2017
Author: Midland Development Corporation
May 1, 2017 (Midland, Texas) – The Midland Development Corporation (MDC) approved an Advance Funding Agreement with the Texas Department of Transportation (TxDOT) for a highway safety improvement project.
The project will construct main lanes and interchanges at the intersection of Loop 250 and County Road 1150 to convert non-freeway to freeway.
The MDC will contribute $2 million to assist TxDOT with the completion of the project.
This contribution is part of an economic investment effort that allows MDC dollars to be utilized as a leverage to get transportation projects finished faster.
James Beauchamp, president of Midland-Odessa Transportation Alliance (MOTRAN), stated that, “This portion of east Loop 250 has seen a 125% increase in average daily traffic since 2010. The Loop 250 and County Road 1150 overpass is an investment that will help open new areas for development to meet our community’s growth, and is a tremendous leap forward in completing Loop 250. It will ultimately result in a much needed freeway to improve mobility east and west, as well as north, and save countless future lives.”
“Our job as an economic development board is to give power to the dollars we are entrusted with,” said Gary Douglas, MDC board secretary. “This particular venture is a perfect example of how we can use a multi-faceted collaboration to our community’s benefit.”
The Midland Development Corporation (MDC) promotes the City of Midland and incentivizes qualified employers who create and retain a diversified job market in the greater Midland, Texas, region. MDC promotes business expansion and job creation through an established business climate and a strong community. MDC is an effective steward of sales tax revenue to efficiently grow Midland’s economic stability and the quality of life.
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