As the $787.2-billion American Recovery and Reinvestment Act (ARRA) nears its two-month mark, federal agencies are picking up the pace in parceling out the measure’s estimated $130 billion for construction-related projects. The flow of funds, however, has been uneven. The Dept. of Transportation is in the fore-front obligating $4.7 billion in stimulus aid as of March 31. Most of that has gone to state highway agencies, which have begun to commit money and award construction contracts for specific projects. But other agencies, including the Dept. of Veterans Affairs and General Services Administration, only recently released lists of projects that they
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.