October lettings total $175 million
The state Department of Transportation (PennDOT) bid over $175 million in projects in October bringing the year-to-date total to $1.802 billion. At this same point in 2011, PennDOT had bid $1.492 billion.
PennDOT recently revised its 2012 letting forecast to $1.8–$2 billion. The department initially forecasted a 2012 letting of $1.5 billion. Deputy Secretary Scott Christie said that the upward revision is a result of additional monies realized from project close outs, 2011-12 winter savings and continued savings from an extremely competitive bidding market. He cautioned, however, that the initial estimate for 2013 would fall to closer to the $1.5 billion that was initially projected for 2012. For perspective, a $1.5 billion letting program was the same volume as in 2006. In 2011, PennDOT ended the year with $1.8 billion in lettings. It is important to note that just a few years ago, PennDOT’s 2009 lettings were $2.8 billion due to the billion dollars in economic stimulus funds, which have been completely spent.
To view the full report and year comparisons, click the link below.
*The report lists the total contracts awarded at each letting date, a comparison to the same period in the previous calendar year, and letting adjustments made since the previous month. PHIA staff will track PennDOT lettings throughout the year and provide monthly update.