Equipment World Digital Magazine
Issue link: http://read.dmtmag.com/i/757428
EquipmentWorld.com | December 2016 11 S tate and local govern- ments across the country featured transportation measures on their ballots November 8, with 69 percent of 280 funding measures ap- proved across the country, according to the American Road & Transportation Builders Association (ARTBA). The association reports 22 states approved ballot mea- sures, accounting for $201 billion in funding for state and local projects, with California approving 15 of 26 measures valued at $133 million. That state's funding approvals include a 1-cent sales tax in Los Angeles that provides $120 billion for 40 years to projects for local roads, bridges and transit programs. ARTBA reports both Illinois and New Jersey approved measures to keep transporta- tion user fee funding from be- ing used for non-transportation initiatives. Maine voters ap- proved a $100 million bond is- sue for transportation projects, and Rhode Island gave the nod to $70 million for ports. Georgia approved local sales tax bumps that could bring in about $4 billion for metro At- lanta road and transit projects. "Earlier this year, voters approved 76 of 81 transporta- tion funding measures – or 93 percent – of initiatives on primary ballots," the association says. "Overall, voters approved 74 percent of transportation ballot initiatives in 2016. This is in line with the 10-year average rate of 74 percent. In the last two presidential elections, vot- ers approved 77 percent (2012) and 76 percent (2008) of trans- portation funding measures." Some of the states and locales passing transportation measures include: • Louisiana, where vot- ers approved Amendment 5, which creates a new Rev- enue Stabilization Trust Fund, which will use a portion of the surplus of oil and gas revenue and corporate taxes to spend on construction projects and roadwork. • In Rhode Island, voters approved $70 million for im- provements at ports in Davis- ville and Providence, where part of the money will be used to build new infrastructure. • Residents in Austin, Texas voted to borrow $720 million for transportation products, including roads, trail and tran- sit improvements. The bond is four times larger than any bond previously approved in the city. • Charleston County, South Carolina voters ap- proved a sales tax rate that will raise $2.1 billion to fund road improvements, mass transit and additional green space areas. – Chris Hill reporter | staff report Briefs D espite seeing an improvement in the Euro- pean market and an increase in orders across all regions, Volvo Construction Equipment saw sales decline in the third quarter. Volvo CE's sales fell 3 percent to $1.3 billion. When ad- justed for currency movements, sales were down by 2 percent, the company notes. Adjusted prof- it increased 4 percent to $67.3 million. Deutz and Liebherr have announced a partnership that will bring Liebherr-built engines into the Deutz lineup. Deutz says the addition of these Liebherr engines will expand its product portfolio to span from 268 horsepower to 938 horsepower. The agreement calls for Liebherr to deliver the first of these engines, which will be branded with the Deutz name, in 2019. The American Rental Association has forecast record revenue for the equipment rental industry this year, anticipating growth of 4.3 percent to $47.3 billion. By 2020, the association estimates revenue to reach $55.5 billion. Esti- mates for 2017 show a slightly slower growth trend, with revenue anticipated to grow another 3.4 percent to $49.0 billion. The estimates come from ARA's latest five-year forecast, the ARA Rental Market Monitor, with data compilation provided by HIS Markit. Majority of state, local government transportation measures also winners in November (continued on next page)