Northeast

Construction in the Northeast is set to benefit from federal funding for projects like high-speed rail and other infrastructure.

Amtrak’s Northeast Corridor, which runs between the District of Columbia and Boston, connects roughly 50 million people and is one of the only profitable routes. Officials in the region are betting that upgrades to the route will make trains faster and more profitable, and have economic spillovers into the whole region. The federal government is making a similar bet, and the Infrastructure Investment and Jobs Act allocates almost $2 billion for this purpose.

Elsewhere in the region, construction is expected to see a boost from the CHIPS Act, which was passed in August. The government is only just beginning to award grants for qualifying projects, but many manufacturers haven’t bothered. Two facilities in upstate New York and New Hampshire are already working their way through the planning phase. We expect this to be a region-wide (and national) trend, particularly among defense companies that like to spread their footprint around.

* Other structures include religious buildings, amusement, government communications, and public recreation projects.