A recent study by the Federal Transit Administration concludes that the nation’s largest transit agencies need at least $50 billion to bring their assets into a state of good repair and another $6 billion would be needed annually for normal maintenance. The Rail Modernization Study, completed in April at the request of Sen. Richard Durbin (D-Ill.) and 11 other senators, examined capital needs of the seven biggest U.S. rail transit agencies. It looked at older systems in New York, Boston, Chicago and Philadelphia, as well as newer systems in San Francisco, New Jersey and Washington, D.C. Combined, the agencies serve
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.