Federal agency procurement officers are breathing a bit easier after a mad dash to obligate their remaining American Recovery and Reinvestment Act dollars by Sept. 30, the deadline for committing many stimulus-act construction dollars. Agencies have seen bids on ARRA-funded projects come in well below initial estimates, opening opportunities to redirect those savings to thousands of additional projects. A White House report, released on Oct. 1, says eight agencies were able to fund more than 3,000 additional projects beyond their original projections. Those agencies include the Depts. of Defense, Interior, Labor, Transportation, Veterans Affairs, the Environmental Protection Agency and 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.