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There's another economic indicator that shows the economy continues to recover throughout South Florida: More vehicles on Interstate 75/Alligator Alley from Naples to Fort Lauderdale.
In a recent financial analysis of the toll road's debt, Fitch Ratings cited the increased traffic as a reason for giving Florida Department of Transportation's Alligator Alley bonds an A+ rating.
Alligator Alley, the 78-mile, four-lane tolled part of I-75 that connects Broward and Collier counties, posted a 6.4% year-over-year increase in traffic in fiscal 2015. In the first quarter of fiscal 2016, traffic rose 7.5% compared with the same quarter in 2015.
Fitch says scheduled toll increases likely won't hurt traffic. “Alligator Alley benefits from considerable economic rate-making ability and traffic has demonstrated relatively low elasticity to recently enacted toll increases,” Fitch says in a statement. “Toll rates are indexed to inflation with increases planned every five years for cash tolls and annually for SunPass tolls.”
Fitch says another positive sign is commercial traffic represented 8% of the total in 2015. Truck traffic is high compared with other roadways, the agency notes.
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