Strategic Resource Evaluation Study on Highway Construction Materials

This document is a final report detailing the Strategic Resource Evaluation Study focused on highway construction materials for the fiscal year 2024-2025. It outlines the current state of various construction materials, including asphalt, concrete, steel, aggregate, and earthwork, providing insights into pricing trends and supply chain dynamics. The report indicates that asphalt prices have stabilized at levels similar to two years ago, despite fluctuating demand across the state. Concrete prices have seen an overall increase of nearly 20% for the year, with expectations of further price adjustments due to tariff-related concerns. The report also highlights the challenges faced by contractors in securing materials, particularly in earthwork, where increased transportation costs are a significant issue. Additionally, it presents data on the Florida Department of Transportation's cost index, comparing awarded bid prices with industry benchmarks. The report concludes with projections for material prices and bidding trends over the next several years.