Related Links: Midwest Floods of Summer Hit U.S. Railroad Network The joint-venture Iowa team of Peterson Contractors Inc., Reinbeck, and Reilly Construction Co. Inc., Ossian, established one goal in late September when it started rebuilding Interstate 680 near Crescent: get the flooded highway repaired and reopened as quickly as possible. The contractor's $19.2-million contract came with a $2 million bonus if all four lanes of the 2.56-mile segment were open by Nov. 20. The team finished the job in 33 days, well ahead of the owner's Dec. 23 deadline."Everybody went to work," said Cork Peterson, Peterson vice president. "Everybody had
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.