What happened: Today is the third anniversary of the Infrastructure Investment and Jobs Act (IIJA), and highway construction work continues to set records. The total value of transportation construction market activity in September was $21.6 billion, up from $21 billion in September 2023 – an increase of 2.5 percent. Year-to-date, highway and bridge construction activity is up 9.2 percent, reaching record levels of $108 billion.
Why it matters: Current market activity – or the Value of Construction Put in Place – is released by the U.S. Census Bureau and tracks the work completed on a project each month, regardless of the total size of a project or when it was awarded. As projects funded by the IIJA are put out to bid and contractors start to work, the value of construction and overall market activity has also increased.
Dig deeper: Detailed U.S. data by mode is available through ARTBA’s Transportation Construction Market Intelligence Service (TCMIS). The TCMIS also includes interactive information on all 50 state transportation budgets and state and local contract awards.
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