As infrastructure money pours in, construction companies prepare to deal with unintended consequences.
Once the Infrastructure bill passed, many were left excited by the possibilities the funding would bring. Our nation would finally be getting the much needed upgrades to the deficiencies we’re seeing with broadband and high speed internet, roads and bridges will finally get some attention it needs and our nation will be responding to upgrading our water systems.
However, the already overwhelmed construction industry may not be feeling the excitement.
According to Bis now, the $1.2T infrastructure bill has been lauded as a tonic for the crumbling state of U.S. infrastructure, but new funds might come with new problems for the construction industry.
The $550B surge in new funding will mean more work for an industry already struggling to meet current demand levels and exacerbate supply chain issues and labor shortages, experts predict.