EDITORIAL: I-73 can serve to open all lanes of commerce

The follow editorial is written by Sen. J. Yancey McGill, the chairman of the North Eastern Strategic Alliance (NESA) executive committee and addresses the infrastructure needs of the region. 

Since 1991, a transportation and infrastructure opportunity that could have a huge impact on the industrial, tourism and quality of life aspects of the region has stood waiting and ready. The possibilities of further developing the economic backbone of the region through this opportunity are far reaching and could have a lasting impression on the way we do business.

Of course, Im speaking of the oft discussed I-73, a planned interstate which would run from the most northern areas of the country in Sault Ste Marie, Mich. all the way through the Pee Dee and end along the Grand Strand.

An interstate system running through our region would not simply be a means for tourist to get to and from Myrtle Beach easier, though. Its greatest asset wouldnt even be the ability to expedite evacuations during hurricane season. In terms of job creation and capital investment, it would be a game-changer for our region.

In the world of economic development, there are a few key components that corporate realtors and site selectors look for in an area. Of course, a well-maintained site capable of hosting their company, a well-trained workforce, a viable cost of doing business and a host of other items are key when looking to wrangle a company to a certain area.

One item may stand above all others, though.

A viable infrastructure allowing goods and services to flow more freely along an expedited path is one of the main components of economic development, and an interstate system flowing through the heart of the northeastern region of the state would provide a substantially positive impact on the area.

That's where I-73 comes in.

As it stands now, Myrtle Beach is one of the largest tourist destinations in the entire nation without access to an interstate. The closest interstate system, a confluence of I-20 and I-95 in Florence, lies nearly two hours to the west of the ever expanding Grand Strand.

With more than 280,000 residents in Horry County alone, the venerable regional route of Highway 501 is taxed beyond its means.

With that in mind, the fallacious idea that a revitalized four-lane highway would be able to accommodate the rapidly increasing population and economic presence along the Grand Strand and through the Pee Dee shows that it's just not a solution that would work in this case.

In a study created by Parsons Brinckerhoff, it was brought to light that a four-lane expressway a reengineered Highway 501 in this case would not be comparable with an interstate in terms of both capacity and performance.

Under the premise of alleviating traffic congestion along Highway 501, I-73 would be a boon of immense proportions. When you think about how much of an economic development impact the project would have on the region, it becomes a game changer.

With the improved travel times comes something else an infrastructure system that's capable of supporting economic development that will propel the region into a higher tier of job creation than has ever been possible.

According to studies by Coastal Carolina University, Chumura Economics & Analytics and Atkins N.A., the total economic impact of the interstate would be $1.98 billion annually, using 2030 projections.

The availability of an interstate is something that is desperately important in the world of economic development. The aspects of time and distance often equate to profits and above all else, jobs.

Parts of the region are losing out on projects and jobs that would have a tremendous aspect on its citizens. As of now, the completion of I-73 should be one of the most important initiatives in the state.