Publicly funded or subsidized construction projects will remain the safest bet for contractors in a downturn, said Turmail. Public buildings like schools and healthcare facilities should also be insulated from a downturn, said Richard Branch, chief economist for Dodge Data & Analytics. “IIJA funds are slated to flow to the majority of programs by the end of 2022,” said Grandy. “Meaning the valve will open up to infrastructure contractors in 2023.” Turmail added contractors could consider targeting areas of the country where electric vehicle plant construction is booming, especially off the back of the passage of the $52 billion CHIPS Act and the Inflation Reduction Act. “It’s safe to assume that there will be a lot of economic activity around the places where electric vehicles and their components are being manufactured,” said Turmail.
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