Surety Bonds

Big Construction in the Northeast?

06.16.2021

It’s happening. Step by step, big infrastructure projects are hitting the schematic and pre-design phases. Dollars and budgets are lining up too. Valued at a total of over $132 billion, here are the top 10 major builds getting ready for action in the Northeast.

Topping the List

As ConExpo reports, most of the projects moving to the start line are new—and focused on infrastructure. Here are the first five—ranked by cost:

 

  1. Gateway Tunnel, rail tunnel between New Jersey and New York/Port Authority of New York and New Jersey Procurement (PANYNJ) and Amtrak – New York, NY – $29.1 billion (schematic design)
  2. Turnpike and parkway/New Jersey Turnpike Authority – Trenton NJ – $24 billion (pre-design)
  3. Phase 2 of the Second Avenue Subway Project – MTA/New York City Transit Procurement Division – New York NY – $17 billion (design development)
  4. Baltimore-Washington SCMAGLEV Project/Maryland Transit Administration (MTA) – Baltimore, MD – $15 billion (pre-design)
  5. Baltimore Washington Rapid Rail/BWRR – Baltimore, MD – $12 billion (pre-design)

 

What’s topping your list? Everybody’s got something they want to win, right? Let Colonial Surety help you. We’ve taken the pain out of the old fashioned bonding process, making it easier—and more confidential than ever—for contractors to obtain, manage and monitor needed bid, performance and payment bonds. Why not get a jump start on new action today? Contractors who complete a brief (we promise!) pre-qualification for Colonial’s surety line of credit even receive, for free, Dun & Bradstreet scores.

Pre-qualify and Receive Free Scores Here!

 

Then, once approved for The Partnership Account®  with Colonial, you’ll:

 

  • Use your private Owner’s Dashboard® for a personal window into your underwriting profile. Review the statistical analysis of your financial statements and free Dun and Bradstreet scores, profitability, and more.

 

  • Access a powerful online surety management system to issue bid bonds, order performance, and payment bonds, update work in progress, check your current and aggregate limits, view open and closed bid and performance bonds, and more.

 

  • Clearly see your bonding limits, and always have direct access to our underwriter if you need the excess capacity to bid on a job.

 

  • Protect the confidentiality of your bids—after all, no one’s in the middle when you do it yourself, right?

 

Come on! You could be bidding now: The Partnership Account®.

 Completing the Top Ten…

 Across the country, the list of projects with green-lights is growing. Hospital expansions for example, are pushing forward. Long awaited parks are springing to life too.

Of course roads and bridges are high on everyone’s list—airports too. In the Northeast, completing ConExpo’s top 10 big project listing are:

  

  1. AirTrain La Guardia Project/Port Authority of New York and New Jersey Procurement (PANYNJ) and La Guardia Airport – New York, NY – $8 billion (pre-design)
  2. I-495 & I-270 P3 Program (Phases 2-5) Maryland Department of Transportation (MDOT)/Maryland State Highway Administration (MDSHA) – Bethesda, MD – $6 billion (pre-design)
  3. I-495 & I-270 P3 PROGRAM (Phase 1) Maryland Department of Transportation (MDOT)/Macquarie Group, New York – Bethesda, MD- $5 billion (design development)
  4. Empire Station Complex/Empire State Development Corporation Headquarters – New York, NY -$5 billion (pre-design)

Ahhh! There must be a project out there on your must get list? Let’s get your bids going! Come on—get armed with The Partnership Account®  from Colonial Surety Company. Then, you’ll go after lots of new projects with speed and confidence — knowing your bidding and financial information is secure.

 

 

Yes Please Qualify Me For The Partnership Account® Today!

Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!