TxDOT Project to Add 175 Parking Spaces

Truck parking is one of the things we at TopMark Funding love to track, if you could not tell. With truckers spending an average of an hour per night looking for a spot and 10 trucks for every spot in the nation, it is always nice to hear about governmental tax dollars being put to good use, which is what we are hearing from local news sources.

Details

Over the course of sixteen months, 175 new parking spots are planned to be built in the Texarkana area.

“This work will take place on both sides of I-30, near County Road 4204, which is west of Farm to Market road 990,” said Texarkana Area Engineer Dana Moore in a news release.

This includes more than just a few slabs on pavement placed alongside the road of I-175. The project will include constructing:

• Entrance ramps.
• Exit ramps.
• Parking areas eastbound and westbound.
• Pavement markings.
• Signs.
• Lighting.

The project is estimated to cost approximately $10.6 million dollars. Let us assume the cost of operating a truck to be $43 per hour, comprising driver wages, wear-and-tear on the vehicle, fuel costs, and much more. If the parking spots are operated at full capacity, which is not too far off from being a possibility considering the current demand for parking spots in the nation, and we assume each eight-hour period of parking saves one hour of driving in search of a parking spot, It will pay for itself in lost economic activity in approximately 470 days, or a little over fifteen months. Of course, this number is solely an estimate and may vary based upon real-life factors.

Conclusion

The interesting thing about the truck parking crisis in the United States is that it is very safe to assume any new parking spot that is built is used at full capacity at any given time. Considering the number is still at a ratio of ten trucks to every parking spot, a trucker who sees a spot available will jump at the chance to use it almost every single time.

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