On the road to transportation funding, state departments of transportation are gripping the wheel and holding on for a bumpy ride. Decreasing revenue, a hazy future for the federal highway trust fund and a shaky lending market have led many state authorities to delay projects, rework deals and make deep cuts. Slide Show Photo: ICC Maryland is reducing its construction program but its $2.4-billion Intercounty Connector projects escaped the budget axe. Related Links: The Complete Top Owners Sourcebook with Market Data and Analysis The sluggish economy has hit many states, including Virginia, hard. Reduced revenue from fuel taxes and vehicle
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.