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Excerpt from www.constructionbriefing.com
Ten novel schemes with a value near or more than US$1 billion join a list of 40 megaprojects designated for direct federal funding or assistance.
The infrastructure projects will be backed by the Biden administration’s US$2 trillion Investing in America agenda, which includes grants and levies allocated from the Inflation Reduction Act (IRA), Infrastructure Investment and Jobs Act (IIJA), and the CHIPS and Science Act.
The projects have been bundled into a programme at OFCCP called the Mega Construction Project (Megaproject) Program. Launched in March 2023, the Megaproject Program “aims to foster equal opportunity in the construction trades’ workforce and expand access to the millions of good jobs being created by large federal or federally assisted construction projects,” according to the DOL.
While several of the projects added to the list are significant in size, the programme’s definition of “megaprojects” is generous. To qualify, builds have to be valued at $35 million or more and that take more than one year to complete.
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