Strategic Resource Evaluation Study
Client: Florida Department of Transportation
Location: Florida Statewide
The Florida Department of Transportation commissioned The Balmoral Group (TBG) to evaluate the availability of critical highway construction materials in Florida, the outlook for timely supply and cost-feasible delivery, and the estimated quantity of each material needed to meet the FDOT Five-Year Work Program. Materials in the analysis include the bituminous, cement, steel, aggregate and earthwork markets.
The scope includes the evaluation of the influence on supply or cost of:
• Producer/material locations: existing and future/planned
• Transport and distribution issues affecting supply chains
• Land use and environmental issues
• Competition and labor availability
• Foreign materials and markets, including tariffs
• Policies, regulations, or laws affecting supply or cost
Historical data obtained from FDOT and other public and private sources are used to estimate the total quantity demanded for each material in the five-year work program by project type, scale, and geographic location. Further, an econometric model of bid prices was conducted in conjunction with extensive surveys and interviews of producers/suppliers and contractors to forecast future material prices. Key events like Hurricane Katrina, the onset of the Gulf War and 9/11, and the COVID-19 pandemic were identified to statistically tease out the effects of economic shocks on FDOT’s costs and lead times. Monthly reports on pressing topics are available, along with annual final reports at: https://www.fdot.gov/programmanagement/estimates/trends/sres-reports.
