SH 342 was designated on November 24, 1941 over a former alignment of US 77 from the current alignment of US 77 in
Red Oak to Spur 260 (Commerce Street) in
Dallas, as US 77 was rerouted over
SH 197. On June 25, 1991, the northern terminus was changed to
I-30 with the removal of the portion north of I-30 from the State Highway System and returned to the city of Dallas. On August 25, 1992, the highway was further truncated to Loop 12. The section from I-30 to Corinth Street in Dallas was removed from the State Highway System and returned to the city of Dallas. The section from
Downtown Dallas to Loop 12 was redesignated as a principal
arterial street known as Lancaster Road, Corinth Street Road, Corinth Street Viaduct, then finally as Industrial Boulevard at its terminus. ==Route description==