Public construction projects have become less costly amid the economic downturn.
Press Release Service – Wired PR News – States are purportedly reporting decreases in building and construction project costs amid the economic downturn. As reported by the Associated Press (AP), the recession has sparked a decrease in public construction material costs and other cuts that have made getting projects completed cheaper.
Tony Dorsey, a spokesman for the American Association of State Highway and Transportation Officials, is quoted by the AP as stating of the matter, “It’s a global economic downturn and it has a far-reaching impact, and that has caused prices to go down for everything… That has also helped to fuel these lower bids.”
As noted in the report, the lower costs may; however, pose risks to some contractors struggling to stay above water with low bids brought on by increased competition.
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