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 anticlimactic impact for the large, publicly traded companies,” said Sean Eastman, equity research analyst at Cleveland-based corporate and investment bank KeyBanc Capital Markets.
But Eastman thinks the recently signed Infrastructure Investment and Jobs Act should be different.
