Inflation is taking a toll on infrastructure projects across the U.S., driving up costs so much that state and local officials are postponing projects, scaling back others and reprioritizing their needs.
The hikes are being driven by a variety of factors, including worldwide supply-chain backlogs, strong consumer and business spending in the U.S., Russia’s invasion of Ukraine — and, some argue, federal energy and fiscal policies.
White House senior adviser Mitch Landrieu said the infrastructure law “actually positions us for lowering costs for families in the short- and long-term.” He pointed, among other things, to for steel, iron and other construction materials that could strengthen supply chains and thus lower costs. . Doubling the tunnel length was a big factor. But inflation and surging real estate prices also fueled the increase, forcing officials to consider cutting costs or lengthening the time frame for completing the project.Low bids for a series of bridge repairs along Interstate 55 in St. Louis came in at $63 million this year, 57% over the budgeted amount.
When Tucson, Arizona, launched the first part of a four-phase water main replacement project in September 2020, ductile iron pipe cost $75-a-foot and a gate valve cost $3,000. When it bid the most recent phase this spring, pipe costs had risen to nearly $90-a-foot and gate valves to nearly $4,100. The city is now prioritizing what other projects it can afford, and which ones have to wait.
“Some of them are getting delayed, some of them are being reduced in scope, and it’s forcing us to re-evaluate some of the budgets that we’ve set forth,” said Ali Polda, principal engineer in the city’s water department.
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Inflation taking bite out of new infrastructure projectsInflation is taking a toll on infrastructure projects across the U.S. Rising prices for materials such as asphalt, steel and iron pipes are driving up the costs to build roads, bridges, rail lines and water mains
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