The American Recovery and Reinvestment Act (ARRA) is the most sweeping economic recovery package in history. What makes the plan important to Symons is that a large portion of funds are targeted at construction projects.
The ARRA includes the largest new investment in America’s infrastructure since the interstate highway system was built in the 1950s. Plans include construction and modernization of roads and bridges, dams and levees, water treatment facilities, transit systems, high-speed rail lines, military facilities, and power plants.
As of mid April, nearly $60 billion of ARRA funds have been OKd for "shovel ready" projects, with about $12 billion of it already disbursed. In addition, states have already started work on some highway projects in anticipation of ARRA funds.
With these developments in mind, we all need to be looking for opportunities, including:
- Contractor customers who are changing their focus. It’s not unusual for a contractor to target treatment plants when there are fewer commercial projects. Let’s ask customers what they’re doing.
- Contractor customers who are expanding their business. It’s not unusual for a contractor to add capabilities, like a tilt-up contractor adding a structural forming division. Let’s watch for growing companies.
- Bridge and transportation projects with Max-A-Form applications. A rush to build these structures will likely create a rush to quote, engineer and supply materials. Let’s have some typical plans ready in advance.
- Power plants establish some long-term revenue streams. The size of these concrete-intensive projects can keep equipment-on-rent for months at a time. This balances the short duration of other smaller projects.
Stimulus plans centering on funds for construction projects are also an International phenomenon. Governments all over the world are looking beyond short-term stimuli and toward programs that will lay the groundwork for sustained growth, including infrastructure projects aimed at job creation and economic expansion.
2009 will be more competitive than ever, but it looks like it will be a year full of substantial opportunities for Symons to sell or rent concrete forming systems!
