MYRTLE BEACH, S.C. (WBTW) — The Myrtle Beach City Council voted unanimously Tuesday morning to approve a resolution to fund the construction of Interstate 73.

Under the resolution, the city would commit $4.2 million annually over 30 years for the project.

“I-73 is a major economic development project for Horry County and for municipalities within Horry County,” the agenda item reads. “I-73 has been an initiative of the community for approximately 20 years.  With the federal stimulus monies associated with the COVID-19 relief packages, and the federal government’s Infrastructure Bill, now is the right time to address this project.”

North Myrtle Beach officials have already committed $1.7 million annually to the project. City council vote unanimously on Dec. 6 to fund the project, with some stipulations on how the money can be used.

In October, South Carolina Gov. Henry McMaster traveled to Myrtle Beach and pledged $300 million for I-73. The project is estimated to cost about $2.3 billion. At the announcement, he said he was hopeful a commitment from the state would strengthen the commitment from federal legislators working to secure money for the project.

South Carolina’s part of I-73 would run from the Rockingham/Hamlet area, into Marlboro County, and then Dillon County, before intersecting with Interstate 95, and then hitting Highway 22 in the Myrtle Beach/Conway area.