ODOT construction down


The Oregon Department of Transportation says that after 2012, it will stop receiving federal stimulus money and state bonding, resulting in less highway projects.

Share this article!

The Oregon Department of Transportation says that after 2012, it will stop receiving federal stimulus money and state bonding, resulting in less highway projects.

That in turn means less work for construction companies that rely on public work.

ODOT says many of the projects like the work at the Ashland interchanges were funded by stimulus money or through bonds from the Oregon Transportation Investment Acts, or OTIA. Now, the federal stimulus funding is ending, and ODOT will begin paying back those bonds for the OTIA projects.

ODOT has announced there will be a hiring freeze, and could shrink the staff by 5% over the next four years, but hope to reach that number through retirements.

Read more at KDRV.

{biztweet}odot{/biztweet}




Latest from Oregon Business Team