Sector watch: ‘A lot of money on the table’ for civil construction this year

Dodge expects civil construction starts, such as public transit, roads, bridges, EV charging stations, water-related projects and power plants, to total $281 billion in 2023, a 16% jump from last year. That’s because infrastructure funds will steadily flow into the market in 2023. As of July 2022, only a small fraction of IIJA dollars had entered the market, according to Dodge. Out of all the IIJA dollars already allocated for projects, 19% has made its way to road and bridge projects, 21% to public transit projects, 15% to EV charging stations and 14% to water infrastructure, said Branch. Dodge’s forecast assumes that 85% of infrastructure money will be spent by 2027.

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