What Construction Companies Need to Know About the New Infrastructure Bill
In November 2021, President Joe Biden signed the $1 trillion Bipartisan Infrastructure Deal, also referred to as the Infrastructure Investment and Jobs Act. The legislation covers a range of improvements to the nation’s infrastructure, including:
- Access to clean water for all Americans and the elimination of lead service pipes
- Universal access to high-speed internet
- Repairs to roads and bridges with a focus on climate change mitigation, equity, and safety
- Clean public transit
- Improved airports and air travel
- Improved passenger railway services
- Construction of a national network of electric vehicle chargers
- New, clean energy technologies across the country
- Redesigned infrastructure to improve resilience against the impacts of climate change, extreme weather, and cyber threats
- Reclamation of abandoned mines and oil wells to clean up legacy pollutants
Public-sector construction companies with experience delivering infrastructure projects will likely be tapped in the coming decade—between 2022 and 2031—to help carry out these improvements. In this post, Join, a leader in preconstruction planning software, outlines everything you need to know about the infrastructure deal to help you better understand what to expect.
Infrastructure’s Affect on the Economy
Increased infrastructure spending supports economic growth nationwide. Whether it’s more money coming in via tax revenue or an increase in available jobs, there’s a whole host of benefits that come with improving the nation’s infrastructure.
Over its 10-year run, the infrastructure deal will create roughly 2.4 million jobs, mainly in construction, for the American people. Ideally, the national unemployment rate will return to pre-pandemic lows at around three percent.
For construction companies hoping to win government contracts as part of the infrastructure deal, know that the competition will be fierce. To be successful in the bidding process, you’ll want to ensure you’re well equipped with the best talent, tools, and resources available.
You’ll Need to Bolster Your Tech
As the infrastructure bill unfolds, those in the construction industry need to prepare for a massive influx of new projects. To win bids and fulfill a healthy share of these new opportunities, it’s critical to streamline your workflows and project lifecycles, from bidding to completion.
Without a method of recording and simplifying decision-making, outlining critical project milestones, and having a singular platform for all stakeholders to collaborate, construction companies risk losing the bid. Moreover, they risk losing precious time and money to delays and rework.
With the right collaboration software, you can ensure all parties have 360-degree project visibility and eliminate the possibility of data corruption. Further, with software such as Join, you can visualize how each decision impacts the overall project and see it evolve in real-time.
Simply put: When a trillion dollars is up for grabs, you should put the spreadsheets to bed. No more formulas, no more manually updating document versions. Simply input data into one streamlined system so you can focus on making each project the best it can be.
You’ll Need a Plan for Handling the Supply Chain Crisis
The global supply chain crisis is impacting every single industry. However, the construction, manufacturing, and retail sectors are taking the brunt of it. Furthermore, it’s becoming increasingly clear that this issue isn’t going away in 2022.
While the money from the infrastructure bill is plentiful, the supplies to make these projects come to life are scarce. To keep projects on track for timely completion, you’ll need to be diligent about how you’re sourcing all of your materials and equipment.
In the design phase of a design-bid-build project, all stakeholders must clearly understand how they will source building materials and where they will come from. By using a planning software like Join, you can connect with suppliers to request shipping estimates before deciding on materials. Doing so will help you and your team plan each phase of that build so that delayed material doesn’t result in an all-out stoppage.
Slow-downs with supplies have also caused building equipment to be harder to source. Delays on one job site mean that rented equipment likely won’t arrive on time for the next project. That said, you should opt for project management software that can help you rework equipment timelines to ensure maximum productivity at every turn.
You’ll Need to Attract Talent
The infrastructure bill has the potential to create millions of jobs in the United States, but finding qualified workers to fill those jobs could prove difficult. In fact, 88 percent of contractors report that they have difficulty finding skilled labor.
Of course, working to fill positions with qualified people will remain a top priority, but the right technology can also help ensure you’re team isn’t filling up their days with excessive downtime. A planning and preconstruction software can give your team real-time insights into tasks and side projects needing completion, so they’ll always know exactly where to go to be as productive as possible.
Win More Contracts with Join
The entire construction industry is likely to benefit from the bipartisan infrastructure deal. As some companies win government contracts, others will be left to handle more private-sector projects as they become available. Whether you’re serving a public or private client, you need to be armed with the right tools for the job.
Join’s cutting-edge software helps ensure your project is always on pace. With real-time updates to every detail from design to completion, you’ll ensure your estimates are accurate, your team is productive, and your build is delivered on time and within budget.