JOC Staff | Feb 11, 2013 6:04PM EST
State departments of transportation and local governments committed more than $117 billion in funding for highway, bridge, transit, port and other transportation-related construction projects in 2012, according to new analysis of the most recent U.S. Census Bureau data by the American Road & Transportation Builders Association.
ARTBA’s monthly report, “Value of Transportation Construction Put in Place,” was compiled by Dr. Alison Premo Black, the association’s chief economist.
Black noted that the although the 2012 funding represented a 1 percent increase over the $116 billion committed in 2011, real transportation construction activity fell short of its 2010 peak, when $129 billion worth of construction work was “put in place” during the year, in large part because of the American Recovery and Reinvestment Act.
