The pace of contracting for American Recovery and Reinvestment Act funds is picking up in the highway and transit sectors. A new House Transportation and Infrastructure Committee report on the economic-stimulus legislation shows that 2,901 highway and transit projects, valued at almost $10 billion, have been put out for bid in 50 states, territories and the District of Columbia as of April 30. Related Links: State by State Project List It adds that 1,099 of those projects, totaling $3.5 billion, are under contract. The committee report, released May 21, says that work has started on 545 projects, totaling $2.1 billion.
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.