First, the law's restructuring of the federal highway program offers state transportation departments more flexibility in their use of federal funds. This could lead to slightly increased investment in highway, bridge and pavement work above the forecast in some states. Second, MAP-21's expanded federal Transportation Infrastructure Finance & Innovation Act (TIFIA) loan program should also increase construction activity in some states.Black also notes that major reconstruction work along the East Coast in states that were affected by Hurricane Sandy could also be a market factor in 2013 across all modes. Additional federal, state and local emergency funds for rebuilding this infrastructure could be a boost as projects get underway.
2013 Transportation Construction Market Forecast: Modest Growth
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