Tight budget drives Gov. to allow roads to be ‘bought’
RICHMOND, Va. (WTVR)–You drive on it, so, why not have your name on it?
State lawmakers passed a bill allowing you to put your name on any state bridge or road at the right price.
Usually the naming of roads and bridges is reserved for historical figures or fallen heroes.
However, the Governor Bob McDonnell’s press secretary, Jeff Caldwell said that faced with a tight budget, McDonnell wanted to get creative and so he came up with this new naming law.
“Bring in some of that outside money without trying to raise taxes on citizens or put an additional burden on the economy as it recovers,” according to Caldwell.
So just how much money will it cost to get your name posted?
That’s still being worked out according to Caldwell, but it could range between $5,000 and $200,000.
“A lot will depend on the marketability of it, how much people are willing to pay for these naming rights and how fast it’s adopted by the private sector,” Caldwell said.
Caldwell says this naming rights initiative could generate up to $100 million dollars a year if it’s successful.