Money from the Infrastructure Investment and Jobs Act is headed to states. There are a number of resources to help contractors follow the money and compete, and whether you are going after a big win, or simply looking to catch some of the action as it flows out to subs, it’s always best to know where the money’s headed.
$60 Billion Headed To States
Detailed information about funding from the Infrastructure Investment and Jobs Act can be found at the Federal Highway Administration, and Construction Dive shares this summation of recently released dollars:
The Federal Highway Administration…announced that it released $59.9 billion to 12 programs to help address the nation’s crumbling infrastructure.…The funding comes from the $1.2 trillion Infrastructure Investment and Jobs Act….The FHWA’s nearly $60 billion allocation, to be split among all 50 states plus Washington, D.C., and Puerto Rico, is a $15 billion increase over 2021. The newly released funds are formula grants, which means the money flows to recipients based on formulas set by Congress.
While long-standing initiatives like the Bridge Formula will continue, new programs are also being rolled out. For example, according to Construction Dive, next year these initiatives are anticipated:
- The Carbon Reduction Program aims to boost projects designed to reduce transportation emissions, such as public transit, bikeways and walkways.
- The Promoting Resilient Operations for Transformative, Efficient and Cost-Saving Transportation Formula Program aims to help make surface transportation more resilient to extreme weather and other natural hazards.
- The National Electric Vehicle Infrastructure Formula Program aims to create a reliable national network of EV chargers.
Technical Assistance—and Encouragement?
A number of public and private organizations have stood up websites to help contractors across the country “follow the money.” For example, the National Association of Counties offers this analysis which includes “a helpful list of open funding sources for county governments, as well as a matrix outlining all of the IIJA’s funding opportunities.” Contractors can visit the National Governor’s Association to track funding appropriations for their states. Other resources that may help contractors understand the scale and scope of opportunities and possibilities are right here.
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