According to The 2001-2004 State DOT Market for Design & Construction Firms, Florida will be one of the five hottest markets for design and construction firms that work with state departments of transportation.
The Florida DOT is in the middle of a large construction cycle. The department plans to award $1.6 billion in construction contracts in FY 2002, up from $1.1 billion in FY 2000 and $1.3 billion in FY 2001. In addition, the department expects to increase its reliance on consulting firms as it continues to downsize. It plans to spend $966.3 million on consultant services in FY 2002.
Other hot state DOT markets include:
Arizona--A growing population, particularly in metropolitan Phoenix, continues to drive the need for highway expansion and new highway construction.
California--The passage of Proposition 35 in November of 2000 gave state and local agencies in California the flexibility to use private sector design firms when needed to speed the delivery of infrastructure projects. For construction consulting firms, bid awards showed a significant increase in FY 2001, and long-term prospects look strong.
Georgia--Large population increases and a 78% increase in federal funding will continue to make Georgia a solid market for design and construction firms. The state announced a five-year, $8.3 billion transportation program in June 2001 that will approximately double the Georgia DOT's annual work program.
Texas--Texas has become the largest state DOT market in terms of new awards to design and construction firms. The future of the market should get a boost from the approval of two bond measures on the state ballot in November that could provide billions of dollars for highway and bridge projects.