Local governments and state departments of transportation committed more than $117 billion in funding for transportation construction projects in 2012, according to analysis of federal data by the American Road & Transportation Builders Association (ARTBA).
Dr. Alison Premo Black, ARTBA’s chief economist, compiled the monthly report, “Value of Transportation Construction Put in Place.” According to Black, while this represents a one percent increase over the $116 billion committed in 2011, 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 & Reinvestment Act.
Highway construction was down 4.3 percent to $45.9 billion and was the only mode of construction that did not experience an increase in construction, according to Black.
Bridge construction was up 4.5 percent to $28.3 billion, while railroads were up 7.3 percent to $10.3 billion.
Transportation construction activity construction activity accounted for 13.8 percent of all U.S. construction work put in place, down from 14.6 percent in 2011 and 15 percent in 2010.