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Bottom Line

News from Seattle's Office of Economic Development

South Park bridge receives funding from City, construction bid comes in under estimate

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Before the bridge closed last summer, the Metropolitan King County Council adopted legislation that provided the County Executive with funding authority needed to assist in the construction of a new bridge. The residents and businesses dependent on the disabled South Park Bridge are a step closer to a replacement with unanimous adoption by the Metropolitan King County Council of agreements to fund construction of a new structure. 

Last month, Seattle City Council approved the agreement with King County regarding South Park Bridge funding. The Council was the first entity to pledge funds for this project. More information, as well as statements from Council president Richard Conlin, can be found here.

Most recently, the bid process to construct the new bridge yielded a lower than estimated proposal from a joint venture of Omaha-based Kiewit Construction and Kansas City’s Massman Construction. The $96.1 million bid was $11 million under the engineer’s estimate. Construction is slated to start in May, 2011. For more information on the low bid, click here.

The cost of the entire bridge replacement project is currently estimated at $167 million. Federal grants, including $34 million in TIGER II grant funds, are guaranteed for the construction of the bridge. King County, the City of Seattle, Port of Seattle, the Puget Sound Regional Council (PSRC) and state funds will cover the remaining cost of construction. 

Rebuilding the span is a priority for the region: more than 20,000 vehicles used the bridge every day and it was an important freight corridor that linked the manufacturing and industrial centers of Seattle with the rest of the region.  South Park Bridge construction will mean approximately 200 new jobs and restoration of a transportation corridor that is critical to the regional economy.

For more information, visit the South Park Lives website.

South Park bridge gets rebuilding money from feds

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South Park bridge gets rebuilding money from feds   
Seattle Times
King County is receiving $34 million in TIGER II (Transportation Investment Generating Economic Recovery) stimulus money to replace the bridge, which closed last summer. With this final piece of funding, the $131 million bridge replacement project can move forward. King County Executive Dow Constantine said the new bridge should open in May 2013

Real travel times now available for Seattle city streets   
King 5
Real-time information on exactly how long it is going to take to get to a destination within the city of Seattle is available. By zooming onto license plates, Seattle’s Traffic Management Center is able to calculate how long it takes to get from point A to point B. Businesses can utilize this resource to avoid overly congested roads to improve travel time. 

Green energy field is fertile ground for wild concepts   
Chicago Tribune
This is the dream era for green technology, when concepts that sound wildly innovative or insane – depending on who’s describing them – are getting attention. “People who aren’t afraid to take chances in completely uncharted waters sometimes succeed beyond their wildest dreams and turn the world on its head,” said industrial designer and entrepreneur Richard Alan Hales.

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.