As the COVID19 pandemic continues to has far-reaching effects on the global economy and daily life, we’re discovering new ways that the virus has changed life. One way is by altering the paving industry. Paving businesses and the customers we serve are having to make changes, while the pavement already on the ground is being affected as well. This is uncharted territory for many of us, including the staff at Rick’s Paving & Sealing.
In our latest blog, we decided to take a deep dive into how the pandemic has affected the paving industry thus far, and explore ways it will affect it in the future.
One of the few positives that could be considered from the coronavirus pandemic is that the pavement we already have will probably last longer than anticipated. This, of course, is because of the reduced traffic flow that streets will have.
Very busy streets in metropolitan areas will likely feel the most benefits from this reduced traffic, extending their value past what they likely would have been without the coronavirus. Not to mention the benefits to the environment at large when we reduce our travel and non-essential purchases.
States Struggling To Cope
Unfortunately, the benefits to the environment and already-laid pavement are offset by the lack of revenue for the government. Governments extract millions in taxes from gas taxes, which has obviously taken a hit because of reduced traffic. These gas taxes were often allocated to infrastructure and road building, so with those funds quickly being exhausted, governments are scrambling to adjust.
Lately, these adjustments have meant cutting or even canceling projects. Needless to say, this has had a direct impact on the companies that depend on those projects to make a living.
Industry Takes A Hit
With many projects being stalled or downright erased, companies in the industry have been looking to the government for assistance. Dr. Audrey Copeland, president and CEO of the National Asphalt Pavement Association, has lobbied the Senate for more support from their coronavirus response bill. Copeland asserts that the requirements imposed on most of the businesses by the bill will lead to employee layoffs and increased amounts of debt.
The industry continues to lobby Congress for more help, but their continues to be a lack of assistance for the industry that creates much of the country’s infrastructure.
Choose Rick’s Paving & Sealing For The Best In El Paso
While we continue to monitor the situation, our team will continue to deliver the absolute best in paving services. Give us a call to get started on your paving project today!