Dovetailing with the U.S. Dept. of Transportation announcement that 24 states were vying for the $2.4 billion in high-speed rail funds rejected by Florida Gov. Rick Scott (R), public transit advocates released a report contending that high-speed and intercity passenger rail projects will stimulate construction, manufacturing sector and long-term job growth. According to the report, for each $1 billion invested in HSR projects, 24,000 jobs will be created. Kevin McFall, senior vice president with Stacy and Witbeck, Inc., Alameda, Calif., a general contractor, called construction of transit, rail—and high-speed rail—a “shot in the arm” at an April 6 press conference.
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.