New Census Data Shows Work on Transportation Construction Projects Continues Strong Growth in 2001
(SMA Introduced to Southwest Ohio)

Washington, D.C.-The value of construction work performed on highways and streets in August 2001 ran at a seasonally adjusted annual pace of $55.8 billion, up 6 percent from August 2000, according to "Value Put in Place" data released today by the U.S. Bureau of the Census.

Year to date, construction work on highways and streets is up 12 percent compared to the same period last year, more than double the growth shown by the homebuilding and general construction markets.

"Highway and street construction, powered by growing Federal highway funding under the Transportation Equity Act for the 21st Century (TEA-21), continues to bolster construction activity even as other sectors are pulled down by the recession," said Dr. William R. Buechner, American Road & Transportation Builders Association (ARTBA) vice president of economics and research.

Construction work performed in other areas of transportation are up even stronger this year, with construction on subways and light rail running 75 percent ahead of last year's pace and airport runways up almost 50 percent, Buechner reported.

"Transportation construction is the least cyclical sector of the construction market," Buechner said. "Including additional funding for highways in the fiscal stimulus program could provide over 100,000 jobs next year for workers laid off in other construction sectors."

For additional information, contact Dr. William Buechner at (202)289-4434. Buechner has a Ph.D. in economics from Harvard University and served as senior economist for the Joint Economic Committee of the U.S. Congress for 22 years.