What happened: The overall value of state and local government transportation contract awards was $8.4 billion in October, compared to a record-level $10.8 billion in October 2022 and $6 billion in October 2021. This represents the value of projects expected to break ground in the next 30 to 60 days.
More insight: Overall, the value of awards was up in 22 states. Monthly gains in California, Massachusetts, Utah, Tennessee, and New Jersey were offset by declines in Texas, Michigan, Illinois, Hawaii, and Florida. Depending on the timing of major projects and state transportation programs, it’s common for the monthly value of awards to fluctuate from year to year.
Year to date (YTD), the value of awards is up 9.5 percent from record-levels in 2022. States with the biggest gains in 2023 YTD include: Hawaii, Texas, Georgia, Massachusetts, Connecticut, Louisiana, Colorado, Kansas, Utah, and California.
Dig deeper: State and modal breakdowns are available as part of ARTBA’s Transportation Construction Market Intelligence Service.
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