Structurally Deficient Bridges Present Opportunity to Construction Professionals

The U.S. Department of Transportation (DOT) has released their 2017 U.S. deficient bridge report and analysis prepared by the American Road & Transportation Builders Association (ARTBA). The report inventories more than 55,000 structurally deficient U.S. bridges, 1,900 of which are located along the Interstate Highway System. Within the report, ARTBA’s Chief Economist, Dr. Alison Premo Black, notes “the inventory of structurally-deficient bridges has declined 0.5% since the 2015 report. At that pace, it would take more than two decades to replace or repair all of them.” The report has in-depth and state-specific information on structurally-deficient bridges, national bridge inventory totals and proposed bridge work by location. The full context of the report and its analysis can be found here.

This sweeping infrastructure initiative provides opportunities for business owners in many areas including bridge construction, painting, maintenance and several other related industries. The professionals at HBK CPAs & Consultants (HBK) can help navigate the potentially complicated process of working on governmental contracts by offering advice on how to:

  1. Acquire, analyze and organize key financial information
  2. Understand “true” contract costs and how to use them to assist in bid price determinations
  3. Comply with state and federal licensing requirements
  4. Improve working capital and help enhance bonding limits by offering directives for discussions with surety companies

For more information and further details about how the construction industry specialists at HBK can help your business, please contact either Michael Kapics at mkapics@hbkcpa.com or Nicholas Odille at nodille@hbkcpa.com.

About the Author

Mike is a Principal in the Youngstown, Ohio office of HBK CPAs & Consultants and has been with the firm since 2001. He has tax and auditing expertise in the industries of contracting, manufacturing, wholesale and retail.

In 2008, Mike received the designation of Certified Construction Industry Financial Professional (CCIFP) from the Institute of Certified Construction Industry Financial Professionals, Inc. (ICCIFP). ICCIFP is a not-for-profit corporation established to promote the highest standards of construction financial management through the credentialing of construction financial professionals. Mike works closely with dozens of construction clients helping them achieve their financial goals and is the head of the Ohio region of HBK’s Construction Niche.

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