PHOTO Courtesy of Balfour Beatty CONSTRUCTION A $534-million Army medical-center replacement at Fort Hood, Texas, broke ground in December. While many of the general building sectors remain in the doldrums, health-care projects continue to pump a steady stream of revenue for top contracting firms. Although the recession did create a pause in capital projects at many health systems, megaprojects—especially federally funded ones—are filling the pipelines of top firms. And as big-dollar projects wane, many companies hope to see a return to more traditional work in the near future.Skanska USA, New York City, is on track for one of its “better
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.