In 2021, the U.S. government unleashed a wave of infrastructure spending through the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA), sparking a flood of projects to revitalize the nation’s roads, bridges, ports, and broadband networks. Eager to capitalize, construction firms rushed to submit bids and secure contracts. However, the financial landscape has since shifted dramatically, leaving many firms grappling with soaring costs and tightening credit markets.

The Financial Landscape Then and Now