With the White House and some in Congress against a gas-tax hike, lawmakers drafting a long-term highway-transit bill are hunting for other funding sources. An option gaining serious attention involves enhancing the Transportation Infrastructure Finance and Innovation Act program, which provides federal loans and loan guarantees for major projects. TIFIA’s appeal is its multiplier effect: A modest direct federal subsidy can support big loans, leveraging non-federal dollars to yield packages funding billion-dollar projects. TIFIA, launched in 1998, has a solid following. The Federal Highway Administration reports $6.3 billion in active TIFIA loans for 17 projects with a total cost of
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.