Category: Financial

March 24, 2022

Howard University has announced a five-year, $785 million construction program that will add three new multidisciplinary academic facilities, and renovate several existing buildings on the main Washington, D.C., campus. Scheduled to get underway later this year, the program represents the […]

March 23, 2022

The U.S. Department of Transportation today announced $2.9 billion of funding for major infrastructure projects now available through the Infrastructure Investment and Jobs Act (IIJA). The funding represents three major discretionary grant programs that will be combined into one Multimodal […]

March 22, 2022

The governors who signed a letter of support on Feb. 6 for passage of the Gas Price Relief Act include: Tony Evers of Wisconsin. Gretchen Whitmer of Michigan. Tim Walz of Minnesota. Jared Polis of Colorado. Michelle Lujan Grisham of […]

March 15, 2022

President Joe Biden has signed into law a $1.5-trillion omnibus spending package that opens the door for state transportation agencies—and eventually construction companies—to gain access to the full funding increases for highway and transit programs authorized in the Infrastructure Investment […]

March 2, 2022

Ohio Gov. Mike DeWine and Kentucky Gov. Andy Beshear this week announced a joint pursuit of up to $2 billion in federal funding to support the Brent Spence Bridge Corridor Project. The goal of the project is to significantly reduce […]

February 9, 2022

Companies focused on software and technology for construction firms have received millions of dollars in investor funding over the past few months. The industry saw a record $2.1 billion in funding pumped into its coffers last year, and contractors are […]

February 1, 2022

In December, the Federal Highway Administration released guidance indicating that it wanted as much of the new IIJA funds as possible spent on projects that advance Biden administration goals like addressing climate change. FHWA would encourage such projects by, for […]

January 31, 2022

Fed policymakers Wednesday signaled their intention to reduce price pressures by raising the federal funds rate from a record near-zero low at their next meeting on March 15-16. “We’re committed to our price stability goal,” Fed Chair Jerome Powell said […]

January 25, 2022

With $17.1 billion from the IIJA, the Army will fund civil works studies and projects, maintain existing infrastructure, repair damage and dredge channels in response to floods and coastal storms, according to the release. These funds will also build on […]

January 20, 2022

The report analyzed construction workers’ families’ reliance on programs such as adult and children’s Medicaid, the earned income tax credit, temporary assistance for needy families and the supplemental nutrition assistance program. Analyzing data from six states — Connecticut, California, Illinois, […]

January 19, 2022

Briq Cash wants to solve what it calls “inefficiencies” surrounding payments in the construction industry, from time-consuming tasks like opening multiple accounts to digitizing files and data like receipts and invoices. “There’s different regulatory requirements that sometimes companies have to […]

January 18, 2022

Crumbling bridges are a serious problem in the U.S. A 2021 American Society of Civil Engineers report found that more than a third of the country’s bridges need repairs, 45,000 were classified as structurally deficient and 79,500 need to be […]

January 14, 2022

As the Biden administration continues rolling out funding provided in the $1-trillion Infrastructure Investment and Jobs Act (IIJA), the U.S. Dept. of Transportation released the first year’s installment of a new $26.5-billion program to replace and rebuild aging bridges around […]

January 11, 2022

The U.S. Department of Transportation (U.S. DOT) this week announced the Build America Bureau will add $5 million in grants to the Regional Infrastructure Accelerators (Accelerators) Demonstration Program. This brings the total investment to $10 million to expedite delivery of […]

December 22, 2021

Investments in contech in 2021 to date have tripled the amount invested in 2020. This record breaking year will end with not only a significant increase in investment, but also with the most funding rounds and acquisitions made within the […]

December 16, 2021

The Federal Highway Administration (FHWA) this week announced that it is $52.5 billion in funding to all 50 states and the District of Columbia under the Infrastructure Investment and Jobs Act (IIJA). FHWA says the $52.5 billion in apportioned funding […]

December 7, 2021

The recently signed federal Infrastructure Investment and Jobs Act includes about $3 billion for dam safety, modernization and removal, as well as for hydropower projects. While that sum is not enough to cover all needed repairs and upgrades for the […]

December 1, 2021

Officials in Texas have settled on plans to replace a flawed design for the new Houston Ship Channel bridge project over safety concerns, with an added build cost of nearly $300 million on top of the original $962 million price. […]

November 29, 2021

When the American Recovery and Reinvestment Act of 2009 passed, the public construction firms eagerly anticipated a windfall of funding and new projects. But then localities shifted the projects to other priorities. The Recovery Act “really amounted to a pretty […]

November 22, 2021

The morning after the $1.2 trillion bipartisan infrastructure bill passed the House of Representatives earlier this month, dozens of stocks tied to construction experienced a boost, with some funds even passing record highs, according to CNBC. The package, which President […]