State and Local Procurement Snapshot - Q2 2024
Published: August 22, 2024
FeaturedSLED Market AnalysisArchitecture, Engineering, and Construction (AEC)BudgetBusiness DevelopmentCommunity DevelopmentContracting TrendsEconomic Development/RegulationEconomic StimulusEducationEducation (Higher)Education (Primary/Secondary)Forecasts and SpendingGeneral Government ServicesHealth CareInformation TechnologyJustice and Public SafetyJustice/Public Safety & Homeland SecurityOperations and Maintenance (O&M)ProcurementSmall BusinessSocial ServicesSpending TrendsTelecommunicationsTransportation
The second quarter saw a decline in opportunities, marking the fiscal year's end for 46 of 50 state governments and many localities. Still, the start of FY 2025 looks bright for the majority of U.S. state, local and education (SLED) governments with renewed budget resources and opportunities for contractors, suppliers and vendors to support planned investments.
The second quarter saw a decline in opportunities, marking the fiscal year's end for 46 of 50 state governments and many localities. Still, the start of FY 2025 looks bright for the majority of U.S. state, local and education (SLED) governments with renewed budget resources and opportunities for contractors, suppliers and vendors to support planned investments.
What's Inside:
This timely report provides an in-depth analysis of the SLED market’s performance in the second quarter of 2024, comparing it to the same period last year. It highlights the growth rates across different levels of government and the twelve industries we track. Additionally, it presents historical trends and project counts over time. Our special feature article for this quarter discusses the possibility of a “fiscal cliff” faced by SLED governments and its potential impacts on purchasing, while providing advice for companies navigating the evolving market environment.
“GovWin IQ from Deltek offers tremendous depth of functionality for SLED, and has great customer support along with sales support.”
Yogi Muthuswamy, Program Manager, YKM Tech Services
Sample Key Findings:
Fiscal Cliff
Government contractors are closely watching the possibility of a 'fiscal cliff' facing state, local and education government finances, which would affect purchasing activity and opportunities.
ARPA Stimulus
The recent decline in SLED opportunities is influenced by several factors, including the winding down of broad federal American Rescue Plan Act stimulus funding.
Other Factors
Several other factors may continue to influence the market through the remainder of 2024 including unfunded pension liabilities, the uncertainty of the upcoming U.S. elections and potential impacts to grant funding.
The SLED market saw a decrease of -6.3% in opportunities during Q2 2024, which concluded the fiscal year in June for 46 state governments and numerous localities.
Get the SLED Market Insights You Need to Stay Ahead of the Competition! Download Report >
- 03 Executive Summary
- 04 Market Snapshot
- 05 Broader Market View
- 07 SLED Project Counts Over Time
- 08 Agency Snapshot - Historical Trends
- 09 Quarterly Growth - Industry Ranking
- 10 Industry Ranking by Level of Government
- 11 Special Feature: How a SLED "Fiscal Cliff" Can Affect Purchasing
- 15 Glossary of Industries