NC Department of Transportation offers bonuses to quick-working crews

Posted by IronPlanet on Feb 29, 2012 4:48:00 AM

The North Carolina Department of Transportation (DOT) has announced that it will be providing incentives if construction crews can get a new bridge completed quickly.

The Neuse River Bridge in Smithfield, N.C., is a major throughway and handles lots of traffic, so it's an inconvenience to have the bridge shut down. However, the structure is falling apart and needs to be replaced. The DOT recently revealed that the bids for the project came in well below initial estimates. The winning company said they could do the job for $5.29 million, when officials originally predicted $6.1 million, according to The Herald.

The government agency also announced that it was instituting an incentive-based timetable. The goal for the project is eight months, but contractors will score $150,000 if they finish in six. They also will get $5,000 once they're done for each day before the eight month mark.

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Topics: Construction, Industry Headlines