image credit: Adobe Stock

IIJA money starting to flow to projects

February 28, 2023


President Joe Biden signed the IIJA in November 2021, and despite excitement about the five-year, $1.2 trillion law, construction companies said late last year they haven’t yet seen much benefit. That’s starting to change as the money makes its way from state and local budgets down to the project level.

“I am very encouraged by the tailwinds we are seeing not only in our construction segment, but also throughout the entire civil construction industry,” Kyle Larkin, CEO of Watsonville, California-based Granite Construction, said during a recent earnings call. “While it’s taken longer than hoped for, IIJA funds have reached the states, money has been allocated to projects, and states are working to get the projects out to bid.”

Read More on Construction Dive