By Mark Holan, editorial director, ARTBA
Public and private transportation construction and maintenance work in the United States totaled over $330 billion last year, or nearly 1.5 percent of the nation’s Gross Domestic Product. This activity helped more than $610 billion in business activity surge throughout all sectors of the economy.
A market this large is influenced by numerous variables, but tracking multiple data sources or monthly fluctuations can be both daunting and confusing, especially without the proper perspective. What are on-the-ground contractors saying about existing and anticipated market conditions? Where are the most robust federal, state, and local government contract awards being made today? Which of these public sectors are considering revenue increases that could indicate new opportunities tomorrow?
Now, ARTBA introduces a cutting-edge Transportation Construction Market Intelligence Service powered by a dashboard that will answer these questions and put new insights and clarity at your fingertips. It is developed and supported by our economics and government affairs experts.
“This service will help you to understand the current market across all modes—highways, bridges, rail and transit, airports, and ports and waterways,” says Dr. Alison Premo Black, ARTBA’s chief economist, who led the development effort. “We’ve also pulled together other market drivers beyond the data to give you the full picture of the industry and the insights you need to make better decisions.”
The service provides three key value-added reports:
- State & local government contract awards for highway, bridge, airport, railroad, and port and waterway projects;
- Value of construction put in place for completed work across all modes; and
- Federal-aid obligations for highway and bridge work.
The analytics platform will empower users to customize their data experience—quickly identifying and selecting market trends, saving money and time.
Visit ARTBA’s Transportation Construction Market Intelligence Service
“We know that legislative and regulatory developments in the Nation’s Capital and the statehouses can have a significant impact on business decisions,” says Dean Franks, ARTBA’s senior vice president of congressional relations. “We will provide the latest insights in these arenas to help our members and customers weigh their current activity and future plans.”
For over 30 years, ARTBA has been the leading source of market intelligence for Wall Street analysts, Fortune 500 companies, public agencies, and other executives in the transportation design, construction, traffic safety, and heavy equipment industry. This new service harnesses and leverages ARTBA’s expertise and market data at a powerful new level of individualization.
“This is part of our core mission,” says ARTBA President Dave Bauer. “We are committed to working with our members and industry analysts to refine and improve this new service, which will help them grow their firms and meet the public and business demand for safe and efficient travel.”
EDITORS NOTE: This story appears in the January/February issue of Transportation Builder. See the full issue.