This paper presents the design of a performance-driven interconnect allocation algorithm. The algorithm is based on the idea that the clock period can be minimized by balancing the load for each of the communication paths following specific hardware modules. By performing load balancing for only the communication lines on ciritical paths, the proposed algorithm generates interconnection structures with minimum delays. This approach also shows run time efficiency. Experimental results confirm the effectiveness of the algorithm by constructing the interconnection structures such that the clock period can be minimized for several benchmark circuits available from the literature.