Reflecting on Ten Years of TEXpress Lanes
An open letter from Ferrovial CEO Ignacio Madridejos.
As Ferrovial celebrates a decade of the TEXpress Lanes, we've spent time thinking about how this project has shaped infrastructure and economic growth in the area. This initiative, in collaboration with local authorities, aids in alleviating traffic congestion while providing a robust framework for community development.
Understanding the TEXpress Lanes Initiative
The partnership that brought the North Tarrant Express (NTE) to life officially began in 2014, marking a significant milestone in the effort to modernize transportation. The development of the TEXpress Lanes, which encompasses the NTE, NTE 35W, and the LBJ Express, highlights the significant transformation of the roadway once seen as one of the most congested in the country.
Public-Private Partnerships and Their Benefits
Public-private partnerships (P3s), like the ones responsible for the TEXpress Lanes, create access to expertise and resources that local governments may not possess. They bring vital private investment for large projects, essential for expanding the area’s infrastructure to meet the rising demand. By generating local employment opportunities and supporting nearby businesses, these projects drive economic growth and vitality in the communities they serve.
The Economic Impact of TEXpress
According to recent reports, TEXpress has significantly improved the commuting experience for residents. Many drivers—about 74%—have expressed satisfaction with the express lanes. Impressively, 65% of these users manage to keep their toll expenses under $20 monthly. The economic footprint of TEXpress stands at an astounding $20.2 billion, supporting over 104,500 jobs and providing more than $5.9 billion in wages to the workforce.
Ferrovial's Success Story
Ferrovial is proud to have a 20-year legacy of implementing intricate projects across the United States, showcasing the adaptable TEXpress model in states like Virginia and North Carolina. Our unique approach not only tackles the inherent risks in these projects but emphasizes adding value through efficient execution.
With an impressive annual total shareholder return of 12% over the last decade, we attribute this success to our commitment to financial discipline and the application of superior operational capabilities.
Looking Ahead with Visionary Leaders
We are excited to continue collaborating with visionary leaders committed to modern infrastructure solutions that facilitate community growth and enhance the quality of life for residents.
Ignacio Madridejos
Ferrovial CEO
About Ferrovial
Ferrovial (Nasdaq: FER) is a trailblazing global infrastructure firm devoted to transforming highways, airports, and energy facilities throughout North America and across the globe. With a robust market capitalization nearing $27 billion, Ferrovial stands as North America's leading publicly listed road and airport infrastructure company. Our operations in North America span over 20 years, during which we have constructed and managed toll roads in Ontario, Texas, Virginia, and North Carolina. We are also proud to be working on the New Terminal One project at JFK Airport in New York. Ferrovial operates in more than 15 countries, with its global headquarters located in Amsterdam and U.S. headquarters in Austin, Texas. Discover more about Ferrovial by visiting us on LinkedIn and X @ferrovial, or at ferrovial.com.
Frequently Asked Questions
What are the TEXpress Lanes?
The TEXpress Lanes are a network of express lanes designed to alleviate congestion and improve the driving experience by providing faster, more reliable travel options.
How has Ferrovial contributed to infrastructure in the U.S.?
Ferrovial has been a key player in developing and managing critical infrastructure projects, demonstrating its expertise through successful public-private partnerships.
What is the economic impact of the TEXpress project?
The TEXpress project has generated approximately $20.2 billion in economic benefits, supporting over 104,500 full-time jobs.
What are public-private partnerships?
Public-private partnerships are collaborations between government entities and private sector companies aimed at financing and delivering large infrastructure projects.
How can communities benefit from infrastructure projects like TEXpress?
Such projects create local jobs, stimulate economic growth, enhance transportation options, and improve the overall quality of life for residents.
