The Permian Strategic Partnership (PSP) recently announced that the Texas Department of Transportation (TxDOT) has approved the Unified Transportation Program (UTP), which serves as TxDOT's infrastructure plan for the next decade. Notably, the 2024 UTP allocates an impressive $4.3 billion to the Odessa District, providing an increase of nearly $1 billion in additional funding from last year's plan.
TxDOT's Odessa District, which oversees the construction and maintenance of Texas state highways in the Permian Basin, will administer the funds allocated by the UTP. Included in the UTP's $4.3 billion allotment for the region is:
- A total of $686 million in new funding for the I-20 Corridor;
- A total of $285 million in new funding for the U.S. 285 North Permian Promise Project; and
- Investments in other energy sector roads across the Odessa District.
Each year, TxDOT releases the UTP, Texas' 10-year transportation plan, which outlines infrastructure projects and spending across the state. Funded in part by oil and gas severance taxes from the Permian Basin, the UTP's additional funding for the Permian Basin is a return of those funds to the local economy, providing jobs, expanding infrastructure and growing economic opportunity for the entire region.
"TxDOT's endorsement of the UTP represents a major investment for the Permian basin and our infrastructure," said Tracee Bentley, PSP president and CEO. "The UTP will expand major roadways, including the I-20 corridor and U.S. 285, helping reduce commercial and residential traffic, improving accessibility and keeping our roads safe."
