More bridge and overpass construction will be underway in 2009. The value of construction work on highways and bridges should top $80 billion in 2009, up from $79 billion in 2008.
Warehouse construction was booming on the Gulf Coast and other areas of the United States during 2008. Economists predict that warehouse construction will lose momentum in 2009, and commercial construction in general will drop 12% in dollars and 15% in square footage.
Work continued on this new hospital even as the total number of new public construction projects declined in recent months. Economists forecast that cement consumption in public projects will decline by about three million metric tons in 2009.
Highway construction and other non-residential projects helped offset the steep decline in home building in 2008, and that trend should continue through 2009. Even without an infrastructure stimulus program from President Barack Obama's administration, current federal highway funds will keep existing projects underway. Congress boosted highway funding to $41.2 billion in 2008 (a 5.5% increase over 2007) and allocated the same amount for 2009.
A solid majority of voters in 2008 approved state and local transportation infrastructure ballot initiatives. Thirty-seven infrastructure funding measures passed and should generate more than $71 billion in new revenue for transportation infrastructure work.
Sponsored Introduction Continue on to (or wait seconds) ×