GUESS WHAT DAY IT IS?
Wondering what kind of return you are getting on the taxes you pay? When it comes to transportation construction, your return on investment is priceless.
Your ROI from the transportation construction sector provides for more than 3,971,108 full-time jobs, and supports the nation’s $4.47 trillion transportation infrastructure.
The total value of public and private transportation construction and maintenance in the United States will be over $273 billion in 2015.
To put this in context, it exceeds the output of the following U.S. industry sectors:
- Wireless communications carriers – $254 billion
- Food and beverage stores – $222.5 billion
- Insurance agencies and brokers – $219.5 billion
- Nursing care facilities – $171.1 billion
- Aircraft manufacturing – $158.3 billion
- Automobile manufacturing – $131.4 billion
Here are some ballpark figures from the Federal Highway Administration on what it costs to construct a lane of highway:
- Approximately $2 million-$3 million per mile in rural areas or $3 million-$6 million per mile in urban areas, depending on the location and terrain. More complex projects can range from $10 million to over $30 million per mile
- Reconstruct pavement: approximately $1 million per mile in rural and suburban areas; $1.8 million per mile in urban areas
- Resurface and widen lanes: approximately $1 million per mile in rural areas; $2 million or more per mile in urban areas
- Re-alignment costs for pavement work in a normal area can range from $2 million in flat rural terrain to $12.5 million in mountainous areas, and an average of $7 million in urbanized areas; for complex projects the average can range from $12.2 million per mile in rural areas to $23 million per mile for urban work
- Reconstructing and widening a mile of interstate: $1.8 million per mile for rural Interstates and $3.3 million for urban Interstates.
For more about what your tax dollars buy, download ARTBA’s 2015 US Transportation Construction Industry Profile here.