The outlook for major spending on infrastructure is strong—regardless of election results. For contractors, now is the time to prepare for growth.
Optimism from Market Analysts
One strong indicator for growth is that the Invesco Dynamic Building & Construction ETF (PKB) fund, made up of big building materials companies, was up nearly 15% over the last month—and over 30% in the past three months. Investment experts point to other signs of growth ahead too. Last week, for example, CNN reported optimism from the BlackRock Investment Institute:
“We see opportunities in private markets across renewables, digital infrastructure and transport regardless of the election result, given the structural shift to sustainability,” said analysts at BlackRock Investment Institute.
At Colonial Surety Company we are optimistic about the future of contractors too. In fact, we have been gearing up to help you grow. Join us in moving ahead, with our innovative Partnership Account®. This complimentary service arms contractors with speedy, direct access to the bonds needed to run the business and the competitive intel needed to grow the business.
When you apply for a Partnership Account®, Colonial will run your Dun & Bradstreet credit and financial scores for you, at no cost. Increased financial intelligence will you give you an edge as you prepare for the busy times ahead. Once you are qualified for Colonial’s Partnership Account®, we will give you our power of attorney and corporate seal. You will then be able to issue and print your own bid bonds—instantly!
New Awards from the Department of Transportation
Major new projects are already getting underway across the country. For example, this month, the Maritime Administration’s (MARAD) Port Infrastructure Development Program announced over $220 million in discretionary grants for the improvement of 16 port facilities. As described in the press release from the Department of Transportation:
“This $220 million in federal grants will improve America’s ports with nearly half the projects…established to revitalize economically distressed communities,” said U.S. Secretary of Transportation Elaine L. Chao.
U.S. maritime ports are critical links in the U.S. domestic and international trade supply chain and this funding will assist in the improvement of port facilities at or near coastal seaports. The Port Infrastructure Development Program aims to support efforts by ports and industry stakeholders to improve facility and freight infrastructure to ensure our nation’s freight transportation needs, present and future, are met. The program provides planning, operational and capital financing, and project management assistance to improve their capacity and efficiency.
Contractors across the country are busily getting ready to bid on the new waves of public projects anticipated over the next several years. Colonial Surety Company can set you up for is success. Licensed in all 50 states and US territories, we make it easy to secure the bid bonds you need, directly, digitally and instantly! Get even more services with our Partnership Account®.
Start your application—and pre-qualify for a surety line of credit and free business scores now!