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Indiana Moves Forward With Financing Of Next Segment Of I-69

Construction on the next phase of the I-69 extension project should begin later this year.

This section will cover the approximately 21 mile section between Bloomington and Martinsville.

This portion of the project will upgrade much of the current Indiana 37 to interstate standards.

The state paid up front for the first phases of the highway from Evansville to Bloomington, using money from the $3.8 billion long-term lease of the Indiana Toll Road and a traditional combination of state and federal funding.

A state agency is preparing $250 million in financing to help a private developer pay for construction of the latest segment of Indiana's Interstate 69 extension. The total cost of the project when complete is expected to be at $370 million.

The state is paying $80 million up front and making annual payments to I-69 Development Partners for 35 years.