The revised estimate for funding from the American Recovery and Reinvestment Act (ARRA) puts the total amount of dollars at $862 billion. The bulk of the funding was allocated for transportation, especially highways. However, government buildings and energy-efficiency projects, including lighting retrofits and new green lighting, were also awarded in 2009 and 2010. As a result, the impact of these projects on overall construction spending has been “more diffuse,” according to Robert Murray, VP of economic affairs for McGraw-Hill Construction, New York.

Although many of the projects have been awarded or completed, there are still a few sizable contracts coming up for bid. To learn about these awards and opportunities, visit www.fedbizopps.gov, the U.S. government website that tracks federal project activity related to ARRA funding.

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Shocking Stat of the Month

8

Estimated time it will take to deplete the current supply of new single-family houses — measured in months — at the current sales rate. The seasonally adjusted estimate of new houses for sale at the end of September was 204,000.

Source: U.S. Census Bureau and the Department of Housing and Urban Development