States’ fiscal year 2015 expenditures on capital projects, including construction, rose 3%, to an estimated $98.2 billion, the National Association of State Budget Officers has reported. Capital spending increased in sectors such as transportation and higher education but declined in environmental and housing programs.
NASBO’s latest annual roundup of state capital expenditures, released on Nov. 19, shows that Florida led, with $12.8 billion. Texas ranked second, with $8.5 billion, followed by New York at $7.5 billion, California at $6.1 billion and Illinois at $4.8 billion.