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How Many Billions is That?

Some 50 years ago astronomer Sir Fred Hoyle unveiled his Big Bang Theory that gave us a whole new way to look at how the universe was created.

Would you believe a new “Big Bang” is about to take place in Hawaii’s construction industry? You might when you see the projects planned for 2010 and the dollar amounts involved as detailed in the issue of Construction Preview recently mailed to BI subscribers.
Only the Department of Transportation (DOT) with $1.2 billion in work forecast to be awarded during 2010, tips the “big bang” scale. That’s plenty, certainly. But when you total the work planned by all the agencies combined, a surprising picture emerges of a forthcoming year that could break records for construction work awarded in a single year.
Consider that agencies awarded a combined $785,273,300 in 2009. Now, take into account that the DOT may not actually award all that $1.2 billion in work it is forecasting, and you still get a startling number for 2010 by adding the following estimates as published:
Gov. Linda Lingle is quoted as planning to put out to bid over 1,000 additional jobs totaling more than $314 million mostly to improve school systems. The University of Hawaii has definite or “probable” plans worth $268,819,977. The Department of Accounting & General Services is adding $81,967,900 in estimates; the Department of Hawaiian Home Lands $198,130,000 and the Department of Land & Natural Resources $22,724,076.
And that’s just the state. Take the City & County of Honolulu. It is forecasting $243,450,187 for certain with a further $66,652,700 “TBD.” The Big Island predicts $67,830,000, Maui adds $69,625,000 and Kauai says it will award $88,898,500.
Now add the Navy at $370 million to $560 million (which means it hopes to get $560 million worth of work for $370 million in bids) and the Army at $445 million to $593 million and we’re starting to talk serious money.
Well, it’s just forecasts. Nobody’s signed any checks yet. But these are estimates by our very own state, C & C and federal agencies. And according to this column’s humble analysis, it all adds up to a remarkable amount that could be awarded this year; somewhere between $3.1 billion to $3.5 billion.
Now that’s a big bang!