Infrastructure Bill: Competition for Owners to Find Contractors

Infrastructure Bill: Competition for Owners to Find Contractors

The 2021 Infrastructure Bill is a once-in-a-generation government investment in the country’s infrastructure. This Bill will provide roughly $1.2 trillion to state and local governments to upgrade outdated roads, bridges, and transit systems, provide high-speed broadband internet to rural areas, and build and maintain other critical infrastructure. About $550 billion of the bill’s budget will go toward new spending above baseline levels. 

The massive funds from the Infrastructure Bill should positively affect virtually every subset of the construction industry. Opportunities for government project owners and contractors will reach unprecedented levels in the coming years. All these newly created projects mean one thing for owners: competition to find contractors to complete the work.

Where’s the Money Going?

Here’s a table breaking down where the Infrastructure Bill’s allocation of funds will go:

There’s a huge amount of money going to many subsets of the construction industry and related industries to bolster the country’s infrastructure. After all, someone’s got to do the building. This unprecedented influx of funds will necessitate countless offshoot projects across the U.S.

Everything from road resurfacing and airport hangar maintenance to water projects and renewable energy opportunities will spring up. To a project owner, this increase in project supply means a sharp uptick in the work you have available for contractors to bid on. Even so, it also means you’ll have competition to find contractors.

How to Use Competition to Get the Best Bids

According to a report by CBS News, six months after the Bill went into law, the government announced there were 4,300 projects underway. Such an uptick in available work will increase competition for contractors to bid on your projects. Contractors will have their pick of projects, and your project isn’t the only one they’re considering. It’s important for you to find a way to distinguish yourself and your offerings to the best bidders.

The tried-and-true way to find the best bidders and retain a competitive edge over other owners is to advertise your projects digitally. Most electronic bid posting sites have scores of qualified contractors looking for projects just like yours. Advertising your projects where there’s already an abundance of contractors will increase your chances of receiving not only plenty of bids, but proposals of the highest quality as well.

Additionally, digital bidding platforms have built-in software that automatically checks bid documents to make sure every required line is completed. This failsafe reduces the chances of human error, which can in turn reduce the chances of a rebid. Contractors love the simplicity and intuitive features of digital bidding programs. Plus, they love to see projects advertised on such platforms.

Some other features of digital bidding contractors love are:

• Saving on time and money
• Flexibility to make last-minute changes
• Enhanced communication
• Automatic notification of relevant projects

There are even more features contractors love. Since your bidders prefer submitting proposals digitally, it’s important for you to advertise your projects on relevant platforms. Posting projects electronically effectively casts a bigger net and thus positions you in front of the audience most interested and suitable for your projects.

Key Takeaways

The 2021 Infrastructure Bill is a massive government investment in the country’s infrastructure. Roughly $1.2 trillion will be used to create projects that will repair, maintain, and update infrastructure throughout the U.S.

All the projects created from the Bill will increase competition for project owners to find the right contractors. The best way for owners to beat competitors and find the best bidders is to post projects on digital bidding platforms. Here’s a table summarizing the features and competitive advantages of posting electronically:

As a project owner, you can use the competition created by the Infrastructure Bill to find the best bidders. Digital bidding platforms give you the power to spread the word about your projects and attract contractors to bid. Take advantage of the Bill by advertising all of your projects electronically. Contractors and taxpayers will thank you.