What’s happening: The total value of state and local government highway and bridge contract awards was nearly $121 billion in 2024, up from $114.6 billion in 2023, according to just-released data from ARTBA’s economics team. To put this in perspective, the value of awards was $83 billion in 2021. Growth has been driven by a combination of federal, state, and local investments.
Highlights:
- The value of 2024 awards were growing or steady in 29 states.
- States with major annual percentage gains (+33 percent or more) include Rhode Island, New Hampshire, Maryland, North Carolina, Washington, South Carolina, Vermont, Florida, Arizona, and Montana.
- Top markets in 2024: Texas, California, Florida, New York, and Illinois.
Why it matters: State and local government contract awards are a leading indicator of future construction activity expected to break ground within 30 to 60 days. Depending on the size and scope of a project, actual construction work can take place over a multi-year period.
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