- $76 billion across 23,500 fully or partially recovery-funded infrastructure projects are in the pipeline now and expected to begin in 2010. Recovery dollars are funding projects in conjunction with traditional matching funds, making the total spend even larger.
- Onvia forecasts the creation or retention of 900,000 direct and indirect jobs from ARRA contract spending in 2010 (vs. 360,000 in 2009). The Southeast region is expected to produce the most jobs, with the Great Lakes regions setting the pace for average salaries.
- Throughout 2009, Onvia analysts found that infrastructure projects came in below estimated costs, driven by stiff competition and falling material prices. Some of the savings served to expand the scope of recovery projects.
- The highway construction market is expected to grow 8% in 2010 as only two states had obligated all of their transportation stimulus funds by the end of 2009. With the pending Jobs for Main Street Act, an increase to double-digit growth is not out of the question.
- Unemployment has lowered ridership rates nationwide, lowering funding for transit systems. At the start of 2010, less than half of the approximately $7 billion for transit were under contract, signaling more spending this year. With an additional $8.4 billion in the pending Jobs for Main Street legislation, the prospect is strong for even more contract awards in this category.
Onvia Forecasts Huge Wave Of Stimulus Funding To Reach Infrastructure Contractors In 2010
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