What happened: State and local governments continue to put out more work – increasing the number and value of transportation contracts moving forward in 2023. The total value of transportation contract awards reached $78.2 billion through July, up 18 percent compared to July 2022. The value of bridge and highway pavement contracts are up 12.5 and 15 percent, respectively.
Why it matters: Contract awards are a leading indicator of future construction activity. The continued strength of the market reflects record funding from the Infrastructure Investment and Jobs Act (IIJA) and both recurring and one-time increases in state and local funding.
Dig deeper: Detailed data by state and mode is available through ARTBA’s Transportation Construction Market Intelligence Service (TCMIS). The TCMIS also includes interactive information on all 50 state transportation budgets.
Related News
Continued Growth in Bridge and Highway Construction
What happened: Highway construction work continued to increase as end of year 2023 data…
ARTBA Market Outlook: Record Transportation Construction Activity in 2024
What happened: Public highway, pavement, and street construction—the largest transportation market sector—is expected to…
Contract Award Value Up Almost 10 Percent Year-to-Date Despite October Slowdown
What happened: The overall value of state and local government transportation contract awards was…