With 25 months left to bring New Orleans’ Hurricane and Storm Damage Risk Reduction System to 100-year protection levels by a promised June 1, 2011, deadline, the U.S. Army Corps of Engineers has awarded 180 contracts worth $2.5 billion of the roughly 350 contracts required for the $14.3-billion program. Photo: U.S. Army Corps of Engineers Thousands of feet are under construction, but contracts for 21 miles wait in the wings. The Corps says it is on track, but industry representatives fear the work window is closing fast and if remaining awards aren’t made soon, it will be impossible for contractors
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.