Interstate 42 is expected to transform towns along the Crystal Coast. Areas like Morehead City, Atlantic Beach, Beaufort, Pine Knoll Shores, and Emerald Isle stand to benefit greatly from this new highway. If the impact of I-40 on the Wilmington, NC, area is any example — which we detail here — the Crystal Coast can expect improvements in tourism and home values for years to come.
Interstate 42 is a planned interstate route in North Carolina that will run from I-40 south of Raleigh to Morehead City. The route will mostly follow existing US 70, which is being upgraded to interstate standards. The first two segments of I-42, the Clayton and Goldsboro Bypasses, were completed in 2022 and are now signed as I-42. The remaining segments of the route are expected to be completed by 2032.
Expected impact of Future I-42
The construction of I-42 is expected to have a significant impact on the Crystal Coast. The highway will make it easier for people to travel to the area, which is expected to lead to increased tourism and economic development. I-42 is also expected to improve hurricane evacuation routes and make it easier for military personnel and their families to commute to and from Marine Corps Air Station Cherry Point.
Here are some specific examples of the potential impact of I-42 on the Crystal Coast:
- Increased tourism: I-42 is expected to make it easier for people to travel to the Crystal Coast, which is expected to lead to increased tourism. The tourism industry is a major economic driver in the area, and increased tourism is expected to create new jobs and boost the local economy.
- Economic development: I-42 is expected to attract new businesses to the area, which is expected to lead to economic development. The arrival of new businesses is expected to create new jobs and boost the local economy.
- Improved hurricane evacuation routes: I-42 is expected to improve hurricane evacuation routes. The highway will provide a faster and safer way for people to evacuate the area during a hurricane.
- Easier commute for military personnel: I-42 is expected to make it easier for military personnel and their families to commute to and from Marine Corps Air Station Cherry Point. The highway will provide a faster and more reliable way for people to get to and from work, which is expected to improve quality of life for military families.
- Increased home sales: I-42 is expected to increase home values in the area and lead to an increase in the number of homes sold in the area.
Overall, the construction of I-42 is expected to have a positive impact on the Crystal Coast. The highway is expected to lead to increased tourism, economic development, and improved hurricane evacuation routes.
CASE STUDY: The impact of I-40 on the Wilmington, NC, area
Housing impact
The value of homes in the area around Wilmington, North Carolina has increased as a result of the construction of Interstate 40. The highway has made the area more accessible to businesses and tourists, which has led to increased demand for housing.
According to a study by Zillow, the median home value in the area around Wilmington increased by 20% in the five years after I-40 arrived. This compares with an increase of 10% in the five years before 1990. The study also found that the construction of I-40 led to an increase in the number of homes sold in the area.
The arrival of I-40 has also had a positive impact on the rental market in the area. The highway has made it easier for people to commute to Wilmington and the surrounding areas. This has led to an increase in the demand for rental housing, which has pushed up rents.
Overall, the construction of I-40 has had a positive impact on the housing market in the area around Wilmington, North Carolina. The highway has made the area more accessible to businesses and tourists, which has led to increased demand for housing.
Here are some specific examples of the impact of I-40 on home values:
- Homes located near I-40 have seen the most significant increase in value.
- Homes that offer easy access to I-40 have also seen an increase in value.
- The value of homes in the area around Wilmington has continued to increase in recent years.
The impact of I-40 on home values is likely to continue in the future. The highway is expected to continue to make the area more accessible to businesses and tourists, which will lead to continued appreciation in home values.
Economic impact
The construction of Interstate 40 in the area around Wilmington, North Carolina has had a significant economic impact. The highway has made the area more accessible to businesses and tourists, which has led to increased economic activity.
According to a study by the University of North Carolina Wilmington, employment in the area grew by 5.5% annually in the five years after I-40 arrived. This compares with 2.5% in the five years before 1990. The study also found that the construction of I-40 led to an increase in the number of businesses in the area.
The arrival of I-40 has also had a positive impact on the tourism industry in the area. The highway has made it easier for people to travel to Wilmington and the surrounding beaches. This has led to an increase in the number of tourists visiting the area, which has boosted the local economy.
Overall, the construction of I-40 has had a positive economic impact on the area around Wilmington, North Carolina. The highway has made the area more accessible to businesses and tourists, which has led to increased economic activity.
Here are some specific examples of the economic impact of I-40:
- The Port of Wilmington has seen increased cargo traffic since I-40 was completed.
- The tourism industry in the area has grown, with more people visiting Wilmington and the surrounding beaches.
- The construction of I-40 has led to the creation of new jobs in the area.
The economic impact of I-40 is likely to continue in the future. The highway is expected to continue to make the area more accessible to businesses and tourists, which will lead to continued economic growth.
Additional details
The highway is already making it easier for people to travel to the area, which is leading to increased tourism and economic development. Here are some additional details about I-42:
- The total length of the route is 137 miles.
- The project is expected to cost $2.5 billion.
- The first two segments of the route were funded by the FAST Act.
- The remaining segments of the route are being funded by a combination of state and federal funds.
I-42 is a major infrastructure project that will have a significant impact on eastern North Carolina. The new highway is expected to improve safety, boost economic development, and connect the region to the national Interstate System.