State and Local Government Transportation Construction Value
Highway and Street Construction (monthly data, not seasonally adjusted)
Air, Land, and Water Transportation Construction (monthly data, not seasonally adjusted)
The value of transportation construction shows the investment in new and rebuilt infrastructure. In the near-term, this construction creates jobs. The long-term effect of improved transportation infrastructure is a lowered cost of transportation, which helps enable growth in the economy.
Transportation construction includes new infrastructure put in place, as well as conversions, expansions, reconstructions, and rehabilitations of existing transportation infrastructure; it does not include maintenance or land acquisition. State and local governments spent $104.2 billion on transportation infrastructure construction in 2012, a 2.5% increase from 2011. Federal expenditures on highway and other transportation construction were $3.0 billion in 2012, as most of the revenues collected at the federal level are redistributed to the states.
| National Highway Construction Cost Index | 2012 Quarter 1 | 2013 Quarter 1 |
|---|---|---|
| National Highway Construction Cost Index (Index: Q1 2003 = 1.00) | 1.11 | 1.10 |
| Percent change from same quarter previous year | + 5.9% | - 1.3% |
NOTES: The current value is compared to the value from the same period in the previous year to account for seasonality.
The NHCCI is updated quarterly and has a base period of the First Quarter of 2003. The data series began with 45 states in 2003 and currently includes 48 states; Alaska and Hawaii are excluded due to unique cost issues.
The NHCCI does not have the exact same coverage as the C30 (Value of Construction Put in Place) dataset from the Census Bureau. The C30 data only covers the value of new construction, and the NHCCI tracks materials and services purchased by states.
SOURCE: U.S. Department of Transportation, Federal Highway Administration, Office of Highway Policy Information, National Highway Construction Cost Index, available at http://www.fhwa.dot.gov/policyinformation/nhcci/pt1.cfm as of February 2014.