New contracts still on the rise

News ARTBA March 21, 2005
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The nation's state and local transportation agencies awarded nearly $3 billion in new contracts for transportation construction

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--and increase of 33.3%--compared to 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.


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 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).


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