Limited Funding Sources Hamper New Bridge, Highway Projects

This article, a component of the Top 400 Contractors Sourcebook for 2008, offers a look at how rising fuel and material costs, declining fuel tax revenue, and budget shortfalls have halted numerous state maintenance programs. With low expectations for a significant increase in federal funds, states are piecing together their own financing for maintenance and are looking at alternative project delivery and funding programs. Design build and public private partnerships are occupying more of the spotlight. The impact of rising fuel prices can be seen in two areas: 1) a decline in in highway vehicle miles of travel which in turn reduces revenue derived from motor fuel tax; and 2) an increase in public transit ridership leading to a greater demand for transit projects. The article also includes lists of: 1) Top 50 in Transportation; 2) Top 25 in Bridges; 3) Top 25 in Airports; 4) Top 15 in Marine and Port Facilities; 5) Top 25 in Highways; and, 6) Top 25 in Mass Transit and Rail.