Bridges And Highways In The Bipartisan Infrastructure Law: Opportunities For Small Businesses

Forbes Small Business Small Business Strategy Bridges And Highways In The Bipartisan Infrastructure Law: Opportunities For Small Businesses Rhett Buttle Contributor Opinions expressed by Forbes Contributors are their own. I write on the relationship between business, policy and politics. Following Oct 13, 2023, 03:51pm EDT | Press play to listen to this article! Got it! Share to Facebook Share to Twitter Share to Linkedin Since work began in 2022, funding has been administered to states and municipalities to focus on .

. . [+] their greatest areas of need.

There are too many successes to count, but here are few that give an example of the scope of this work. getty By: Rhett Buttle November will mark the two-year anniversary of the enactment of the Infrastructure Investment and Jobs Act, most commonly known as the Bipartisan Infrastructure Law. This once-in-a-generation investment in our nation’s infrastructure is rebuilding and upgrading numerous sectors, including transportation.

While the law is nearly two years old, there are still many opportunities for small businesses to participate in this historic endeavor. The law provides $1. 2 trillion, including $550 billion in new spending to focus areas that include highways and mass transit from 2022 to 2026, along with the largest dedicated bridge investment since the development of the Interstate Highway System in the 1950s.

Efforts underway include rehabilitating bridges in critical need of repair and removing barriers to connecting communities. Since work began in 2022, funding has been administered to states and municipalities to focus on their greatest areas of need. There are too many successes to count, but here are few that give an example of the scope of this work.

California: The U. S. Department of Transportation (DOT) has awarded $400 million to replace, retrofit, and install critical structural elements on the Golden Gate Bridge to improve its resiliency against earthquakes.

An estimated 37 million vehicles cross the bridge per year, including 555,000 freight trucks, and it is a critical link to bicyclist and pedestrian traffic. Texas: The city of Houston has received nearly $21 million to revitalize 2. 8 miles of its infamous Telephone Road.

The project will improve faded street markings and crumbling or non-existent sidewalks. It will also upgrade pedestrian and bicycle options and lay the groundwork for other transportation alternatives. MORE FOR YOU Elon Musk Unveils X.

ai: A Game-Changer For Investors Steve Scalise Abruptly Withdraws From House Speaker Race A Day After GOP Nomination Yet Another Woman Quits The Golden Bachelor And The Drama Finally Arrives Massachusetts: The Massachusetts Department was awarded $20. 2 million to design and construct center-running bus lanes, enhanced bus stops, a bi-directional separated bike lane, and sidewalk improvements on Massachusetts Route 1A. This will help residents in an area with high housing and transportation costs use active transportation to help improve the experience of what can be a very time-consuming commute from Lynn to Boston.

Tennessee: Smith County, which is near the Kentucky border, will receive $22. 6 million to upgrade welcome center ramps to meet current standards, add approximately 125 truck parking spaces, and upgrade the adjacent bridges on I-40 over the Caney Fork River. This will reduce illegally parked commercial vehicles that cause safety hazards and improve operations on one of the country’s most critical freight corridors.

The Biden-Harris Administration has also directed that small businesses, especially those in underserved communities, take part in much of this work. For example, DOT is working with the U. S.

Small Business Administration to ensure that this happens with the former setting a goal for 20% of its federal contracts to go to small and disadvantaged businesses. In addition, the White House has also created a one-stop shop where small businesses can learn more about the law and apply for funding at Build. gov .

In addition, BuildupLocal. org aims to close the racial wealth gap by helping small businesses access inclusive infrastructure contracts made available through the law. When all is said and done, the Bipartisan Infrastructure Law may be one of the most consequential pieces of legislation of the 21st Century.

If you are a small business owner, you have an opportunity to take part in giving our country a much needed upgrade and setting yourself up for future contracting opportunities. Follow me on Twitter . Check out my website .

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