States' fiscal results continue to record slow improvement but haven't rebounded to where they were before the recession struck.The National Governors Association-National Association of State Budget Officers latest fiscal survey, released on Nov. 29, says states' projected fiscal 2012 general-fund revenue collections rose 1.6%, to $659.4 billion. But that figure is still $20.8 billion below states' cumulative 2008 level. A Dec. 1 National Council of State Legislatures report sketches a similar overall picture.Only Colorado and Missouri cut fiscal 2012 transportation spending so far, compared with seven states' imposing mid-year 2011 transportation reductions totaling $392.4 million.
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.