BOSTON, MA-Owed millions of dollars by the Massachusetts Turnpike Authority for work already completed on the Big Dig Artery project, many contractors are feeling the squeeze of an ongoing argument between acting Governor Jane Swift and two members of the Turnpike Authority’s Board of Directors. The Governor wants the board members fired. And the board, which normally approves contractor payments at its bi-weekly meetings, has not met since Nov. 13.

John Pourbaix, executive director of the Construction Industries of Massachusetts, a trade group representing contractors tells Globest.com that the lack of payment approval for work already completed has had a ripple effect on the construction economy, with contractors lacking the funds to pay suppliers. “Firms have fully extended their lines of credit and can no longer finance the project,” says Pourbaix. Pourbaix goes on to point out that many of the contractors on the project are “small family- and minority-owned firms” some of whom have taken out second mortgages to continue their businesses. Many small contractors feel that if they are not going to get paid then they should cease work on the project.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.