Cintra, a subsidiary of Ferrovial, attended and sponsored the 13th annual Tarrant Transportation Summit on Feb. 17 in Hurst, Texas. The summit brings together transportation leaders and members of the public to discuss the present state and future of mobility in North Texas and beyond.
With over 7 million drivers traveling on Cintra-managed highways in Texas each year, Brooke Akins, Cintra’s Global ESG Director, addressed the economic impact of managed lanes on the communities they serve with Craig Hulse, Director of Economic Development for the City of North Richland Hills. Robert Hinkle, Director of Corporate Affairs for NTE Mobility Partners LLC and LBJ Infrastructure Group LLC, moderated the panel discussion.
Cintra partnered with Steer consulting firm to prepare its Economic Development and Social Impact Report, which analyzes Cintra-managed highways in the areas in which they operate. The report found Cintra-managed highways have generated $17.2 billion in economic impact for the state of Texas and over $5 billion in local benefits.
“All these impacts will continue to grow over time, and now we can look to optimize and protect those values for our partners, our DOT partners and users of these roadways. We are committed to providing a safer environment for all drivers with a multi-year vision that will adapt and evolve as automated adoption grows.”
Robert Poole, director of transportation policy at Reason Foundation, acknowledged the challenges Tarrant County and many other regions are facing across the U.S. when it comes to developing the transportation infrastructure needed to support economic growth. He provided available solutions during his keynote address.
“The advantages of the public-private partnership revenue model really are that it guarantees you to finance these big projects up front, so you get a build when you need it, not 10 or 20 years from now.”
As an example, Poole pointed to Cintra’s I-66 Outside the Beltway project as a landmark project for others to follow. He said it is only the second P3 project in the U.S. “that is 100 percent revenue financed without any state aide whatsoever,” and then went on to add, “and in addition to paying for all the construction costs, they paid a chunk to support bus transport operations in that corridor.”
The company celebrated the opening of the I-66 Express Lanes in Virginia in November 2022. It is one of the largest P3 infrastructure projects in the United States.
About Cintra
Cintra is one of the world’s leading private-sector transportation infrastructure companies. For more than 50 years, Cintra’s innovative transportation solutions have helped drivers and commerce move around safely. Globally, Cintra currently manages highways spread over 26 concessions in 9 countries, including Canada, the United States, Europe, Australia, and Colombia. For more information, visit cintra.us
About Ferrovial
Ferrovial is a global infrastructure operator committed to developing innovative solutions for a world on the move. With more than 70 years of experience, its family of companies holds leadership positions in transportation infrastructure, construction, waterworks, and energy. Ferrovial U.S. is headquartered in Austin, Texas, employing thousands of people across the country. For more information, visit ferrovial.us
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