U.S. Transportation Secretary Anthony Foxx announced a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for up to $209.3 million to finance the Portsmouth Bypass in Scioto County, Ohio. The project is a 16-mile, limited access, four-lane highway that will bypass about 26 miles of US 52 and US 23 in Portsmouth. Once completed, the Ohio Department of Transportation (ODOT) estimates it will reduce travel time by 16 minutes compared to the alternative routes in the area.

The Portsmouth Gateway Group, a consortium of private sector infrastructure developers, will receive the TIFIA loan to build the project. The group will operate and maintain the project for up to 35 years after completion. This project is ODOT's largest single construction project—and its first public-private partnership (PPP) under new rules in the state that allow the private sector to participate in public transportation projects.

Read the full press release (April 1, 2015)