Financial District: Long Tunnel, No Light
Work backlogs numbers are also gloomy. These backlogs are a key factor in a contractor’s planning for the future, and contractors depend on maintaining a healthy backlog of future work contracts to ensure the cash flow necessary to maintain or add to their permanent work force.
“Our members have capacity; they’re ready to meet the nation’s needs but the state DOTs can’t offer projects for which there is no stable source or commitment of funding by the federal government,” said Joy Wilson, president and chief executive officer of the National Stone, Sand & Gravel Association.
Word called the current situation “very depressing” and said of his company, founded by his great grandfather in 1890: “We’re just trying to hold things together.” v
The Transportation Construction Coalition is a partnership of 28 national associations and construction unions representing hundreds of thousands of individuals with a direct market interest in federal transportation programs. The TCC was initiated in July 1996 to focus on the federal budget and surface transportation program reauthorization debates. The internet survey was conducted over the first three weeks of October. The complete survey results can be found at transportationconstructioncoalition.org.
Alison Premo Black, Economist & Vice President of Policy, American Road and Transportation Builders Association, Washington, DC
Ken Simonson, Chief Economist, Associated General Contractors of America, Arlington, VA
Ron DeFeo, Chairman & CEO, Terex Corporation, Westport, CT
Dean Word, President, Dean Word Construction, New Braunfels, TX
Joy Wilson, President and CEO of the National Stone, Sand & Gravel Association, Alexandria, VA
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