The amount of American Recovery and Reinvestment Act-financed projects under contract in highways and other infrastructure sectors is slowly rising closer to the 100% mark, the House Transportation and Infrastructure Committee's latest update on the economic-stimulus measure shows. With the ARRA programs now in the 18th month since the measure was signed, the month-to-month gains in funds under contract are modest. The committee's latest monthly stimulus scorecard, released Aug. 26, says that of the $38 billion that ARRA allocated for highway, transit and wastewater-treatment programs under the panel's jurisdiction, $34.1 billion, or 90%, was under contract as of July 31.
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.