HORRY COUNTY S.C. (WBTW) — Horry County officials announced Wednesday that the new interchange expected to be constructed along Highway 31 will be paid for 100% through Horry County hospitality funds.

The $75 million interchange will connect Augusta Plantation to Revolutionary War Way. County Councilman Bill Howard said the design phase of the project just started, which will take about a year.

Howard said the interchange will help ease traffic on Highway 501, International Drive, River Oaks Drive and Carolina Forest Boulevard.

He said when looking at growth statistics, more than 600,000 people may live in Horry County in the next 15 years.

Howard said this project plans for the future.

“This will come online about the right timing, to relieve a lot more traffic that’s going to be dumped into that area by new housing, new developments,” Howard said.

Howard said it will take about five years for the entire project to be completed.