The U.S. Army Corps of Engineers has released for public comment its proposal for the Gulf Intracoastal Waterway West Closure Complex, a surge protection project that will include a 20,000- to 25,000-cu-ft-per-second capacity pump station, the largest in the nation. The GIWW Closure Complex will likely be the largest component of the Greater New Orleans Hurricane and Storm Damage Risk Reduction System. Located just south of New Orleans on the west bank of the Mississippi River, it is intended to reduce risk from a storm event with an intensity that has a 1% chance of occurring in any given year.
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.