Capstone has created this white paper to assist our clients and associates to benefit from the types of projects that have been authorized by the Infrastructure and Jobs Act (IIJA) which was signed by President Biden on November 15, 2021.
Since the IIJA passed the Senate in July, many of our clients have been receiving contacts from general contractors who are approved, federal contractors. Their excitement about these opportunities, after having suffered through a difficult business environment as a result of COVID-19, faded as delays in getting the IIJA approved by the House stretched from weeks to months. Now that it has been signed into law, our clients and associates need to understand what spending has been approved and how that funding may create contract opportunities for their businesses.
Unlike the last major infrastructure projects funded during the Obama Administration, the Biden Administration has pledged that IIJA funding will actually go towards much-needed infrastructure, including roads and bridges, highways, trucking, pipelines, hazardous materials handling, broadband, modernization of public transportation, the power grid, water systems, and environmental remediation.
As you read this white paper you will see the allocation of dollars by state and by the categories listed above. We urge our readers to avail themselves of the opportunities that the IIJA creates.
We expect funding to trickle down into contract authorizations by the end of February 2022 to the middle of March.
Capstone is hopeful that this brief summary of the IIJA will allow you to take advantage of the opportunities presented to rebuild your business or expand it further.
