Inspired by big thinking and collaborative funding agreements, construction is underway on a $945 million commuter train line in Indiana.
Making New Connections
Toward construction of an 8-mile commuter train line—the West Lake Corridor Project—a federal infrastructure grant will cover about 38% of the cost. State and local funds are also committed. Considered the largest public transit investment ever in Indiana, the north/south train line will add four stations, connecting communities in Northwest Indiana to Chicago.
Governor Eric Holcomb is optimistic that the rail line will boost commerce, by linking the region to the nation’s third biggest economy. As Governor Holcomb told IndyStar:
This is going to really help the northwest quadrant of our state become an even more attractive place to invest and grow.
A second, separate project is planned to make improvements on the east/west connections between Chicago and South Bend. Indiana anticipates that combined, these two projects will result in billions in private investments and thousands of new jobs by 2048.
Building Capacity To Compete
With major infrastructure projects being planned throughout the country, how can contractors build capacity related to the fundamentals of submitting timely bid, performance and payment bonds?
Colonial Surety Company offers a unique Partnership Account® that arms contractors with fast, digital and direct access to the surety bonds needed to run their construction companies—and real time financial intel to grow the businesses. Once approved for a Partnership Account®, contractors can speak directly with Colonial’s lead underwriter for customized assistance as new opportunities emerge.
Additional benefits of a Colonial Partnership Account® for contractors include:
- Controlling bidding and bonding, online and in real time.
- Utilizing powers of attorney to seal and issue your own bid bonds—in minutes.
- Competing with confidential bid bonds—no middleman.
- Ordering performance and payment bonds easily from a customized digital dashboard.
- Tracking bids and work on hand in real time with free management reports.
- Leveraging data on a private Owner’s Dashboard to view surety lines, adjust work on hand, analyze bids—and grow.
Thinking Big: One Step at a Time
It can be hard to pause “business” as usual to try something new. That’s why Colonial has made it easy, fast and rewarding for contractors to pre-qualify for a surety line of credit.
After entering just a few, bare essentials about the business in Colonial’s proprietary online system, all companies that apply receive, for free, Dun & Bradstreet scores.
Contractors who pre-qualify for a surety line of credit, go on to upload a few more documents that help Colonial better understand their operation and underwrite the Partnership Account®. The entire process exemplifies Colonial’s commitment to busy contractors: simple, direct, and efficient, with value added services built right in.
Contractors: Start your application to pre-qualify for a surety line of credit and
receive free business credit scores. Click Here Now!
Founded in 1930, Colonial Surety Company is a direct seller and writer of surety bonds and insurance products for a wide range of industries and professions. The Partnership Account® reflects Colonial’s priority: innovating to provide value-added services to contractors. Colonial is rated “A Excellent” by A.M. Best Company, U.S. Treasury listed, and licensed in all 50 states, the District of Columbia and most U.S. Territories.