The nation’s state and local transportation agencies awarded nearly $3
billion in new contracts for transportation construction projects in
January, an American Road & Transportation Builders Association (ARTBA)
report shows. The value of the contracts was up by over $740 million--an
increase of 33.3%--compared with January 2004 levels.
ARTBA’s monthly “U.S. Transportation Construction Market Report” provides
contract award data for five transportation markets: airports, highways,
bridges and tunnels, railways, and water-related projects. It is part of
ARTBA’s market-tracking subscription service, “Transportation Construction
Market Intelligence Reports” (TCMIR).
According to the report, highway construction contracts in January were
worth $1.83 billion, an increase of 11.7% over last January. Bridge and
tunnel construction contracts in January were valued at $685.3 million, a
43% boost over a year ago.
The January improvement continues an upward trend since July 2004, when most
state governments began their new budget year, indicating that the fiscal
problems that held down highway and bridge construction in recent years may
be easing.
The report, edited by ARTBA Senior Economist Dr. Michael F. Martin, found
that Texas awarded the greatest value of contracts in January with $329.5
million, followed by North Carolina ($309.6 million), Florida ($286.9
million), New York ($198.2 million) and California ($172.1 million).
