{"id":934,"date":"2012-07-30T14:24:00","date_gmt":"2012-07-30T14:24:00","guid":{"rendered":"https:\/\/www.lienitnow.com\/blog\/index.php\/2012\/07\/30\/competitive-bidding-showing-signs-that-the-construction-economy-is-finally-improving\/"},"modified":"2012-07-30T14:24:00","modified_gmt":"2012-07-30T14:24:00","slug":"competitive-bidding-showing-signs-that","status":"publish","type":"post","link":"https:\/\/www.lienitnow.com\/blog\/2012\/07\/competitive-bidding-showing-signs-that.html","title":{"rendered":"Competitive Bidding Showing Signs that the Construction Economy is Finally Improving?"},"content":{"rendered":"<p>The&nbsp;$46 million school renovation project of Dracut High School in Northeastern Massachusetts may provide signs that the construction economy is finally improving.&nbsp;Since the 2008 financial crisis,&nbsp;governments have found great deals for their construction projects.&nbsp; With construction companies vying for work, public projects let out for bid have generally received numerous bids, often times well over the normal numbers in pre-crisis years.&nbsp; With the increased competition came decreased prices, saving&nbsp;governments large amounts of money&nbsp;when performing&nbsp;much needed&nbsp;construction work.<\/p>\n<p>But the increase in&nbsp;bidders&nbsp;and lower prices is not a sign of&nbsp;economic strength.&nbsp; In fact, it&nbsp;is a generally a sign of weakness, indicating that not enough private&nbsp;or commercial construction work exists to keep contractors busy, resulting&nbsp;in a rush to public works projects.&nbsp; <\/p>\n<p>The recent bids&nbsp;for the&nbsp;Dracut High&nbsp;School, therefore, are good economic indicators. Because only two bids were even proffered for the project, and because the lowest bid was priced only 1% over the construction manager&#8217;s estimate, the&nbsp;project may be a sign that things are finally improving.&nbsp;While this one project located in Northeastern Massachusetts&nbsp;is not necessarily an indicator of a national trend,&nbsp;<a href=\"http:\/\/lienitnow.com\/\">LienItNow.com<\/a> will&nbsp;be continuing to look for signs of a change in the construction industry.<\/p>\n<p>The bids were reported on July 24, 2012 by the <i><a href=\"http:\/\/www.lowellsun.com\/local\/ci_21153235\/one-bid-dracut-high-project-below-budget\" target=\"_blank\">Lowell Sun<\/a><\/i>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;$46 million school renovation project of Dracut High School in Northeastern Massachusetts may provide signs that the construction economy is finally improving.&nbsp;Since the 2008 financial crisis,&nbsp;governments have found great deals for their construction projects.&nbsp; With construction companies vying for work, public projects let out for bid have generally received numerous bids, often times well over [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1545,1544,1548,1547,1546,1549],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Competitive Bidding Showing Signs that the Construction Economy is Finally Improving? 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