Reuters: Regulatory News: U.S. to dole out $474 mln in transport infrastructure grants

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U.S. to dole out $474 mln in transport infrastructure grants Sep 5th 2013, 14:58 WASHINGTON, Sept 5 | Thu Sep 5, 2013 10:58am EDT WASHINGTON, Sept 5 (Reuters) - The United States will make about $474 million in discretionary grants to transportation projects in 37 states, with a heavy emphasis on projects in rural areas, the Department of Transportation said on Thursday. The 52 projects will be funded under the Transportation Investment Generating Economic Recovery, or TIGER, program, said U.S. Transportation Secretary Anthony Foxx. TIGER grants are among the only federal funding sources for large, multi-modal projects that often are not suitable for other federal funding. The funds are meant to piggyback on money from other sources, including private sector partners, states, local governments, metropolitan planning organizations and transit agencies. The 2013 TIGER round will support $1.8 billion in overall project investments, the Department said in a statement.

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