States across the country are moving rapidly to start turning their shares of newly approved economic stimulus money into construction contracts. States are in line to receive about $40 billion of the stimulus measure’s estimated $130 billion in construction-related funds. That state funding includes $26.8 billion for highways, $7.4 billion for transit, $3.9 billion for clean water state revolving funds, about $2 billion for drinking-water SRFs and $3.1 billion for state energy programs. Most of those funds will be distributed among states according to existing formulas. President Obama calls on governors to promote transparency when bidding work funded by the
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.