Funding from the Infrastructure Investment and Jobs Act is finally making it to projects, according to the CEOs of several major public construction companies. Additional federal money from the Inflation Reduction Act and CHIPS Act is also boosting the civil construction outlook, they said. 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.
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