Feds loaning NC $500M to speed construction of NC 540 loop toll road

The U.S. Department of Transportation will loan the North Carolina Turnpike Authority up to $501.5 million to help finance construction of the N.C. Highway 540 toll road in southern Wake County, U.S. Transportation Secretary Elaine Chao said Wednesday.

“This $501.5 million federal investment in transportation infrastructure in the Raleigh region will promote economic growth while enhancing mobility and reducing congestion for area residents and travelers,” Chao said in a statement.