The New Jersey Turnpike Authority can proceed at full speed with its $7-billion capital program, thanks to being the nation’s first transportation agency to sell more than $1 billion in taxable bonds that come with a 35% reimbursement from the federal government under the American Recovery and Reinvestment Act. The Build America bonds (BABs) will contribute $1.375 billion to the authority’s 10-year capital program, along with $375 million sold in traditional tax-exempt bonds. Photo: Aileen Cho / ENR Gutierrez-Scaccetti (right) and Raczynski lead $7 billion in planned capital projects. Photo: New Jersey Turnpike Authority A broadened investor base means 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.