Intercounty Connector

credit agreement executed

The Intercounty Connector (ICC) is a toll highway in Maryland. The road will link existing and proposed development areas between the I-270/I-370 and I-95/US 1 corridors within central and eastern Montgomery County and northwestern Prince George's County. The finished highway will be approximately 18 miles in length, and have six lanes in total. The ICC was initially planned as a spur off of the region's proposed second Beltway. The ICC project has been the focus of various studies and debates since the 1950s and finally started construction in 2007. The highway provides an efficient link between the region’s major roadways, featuring a fully electronic tolling system designed to prevent significant traffic delays. According to the MDTA, this system has reduced some drivers’ travel times as much as 50 percent when compared to alternative routes using local roads. The ICC was also designed as a multimodal roadway, allowing public transit and trucking service providers to benefit from decreased travel and delivery times. In all, the travel time savings are expected to generate annual user benefits valued at over $250 million. The utilization of TIFIA financing allows for the realization of the stated benefits at an interest costs savings of approximately $100 million compared to conventional financing methods. What’s more, the project is expected to generate approximately 14,000 jobs and $7 billion in total economic impact through its first 20 years of operation.