State and Local Procurement Snapshot - Q3 2024
Published: November 13, 2024
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The third quarter of 2024 brought a mix of challenges and opportunities to the state, local and education (SLED) market. While overall opportunities declined, state governments saw a slight increase as they began their new fiscal year. Despite some hurdles, sectors such as environmental services and water & energy remained resilient, bolstered by ongoing infrastructure projects and funding.
The third quarter of 2024 brought a mix of challenges and opportunities to the state, local and education (SLED) market. While overall opportunities declined, state governments saw a slight increase as they began their new fiscal year. Despite some hurdles, sectors such as environmental services and water & energy remained resilient, bolstered by ongoing infrastructure projects and funding.
What You’ll Get Inside the Report:
GovWin’s Q3 2024 “State and Local Procurement Snapshot” report analyzes SLED market performance and trends, comparing results to the same period last year. It highlights growth rates across various government levels and the twelve industries we monitor, alongside historical trends and project counts. Additionally, this quarter’s special feature article revisits insights from our recent report, “The Rise of AI in State and Local Contracting." We also discuss the challenges faced by local governments and the education sector’s vulnerability to a fiscal cliff.
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Sample Key Findings:
Fiscal Year Adjustments
The SLED market experienced a 6.0% decline in opportunities in Q3 2024, largely due to new fiscal year budget adjustments and the expiration of ARPA stimulus funds.
Sector Stability Maintained
Despite the overall decline, the Environmental Services (+4.0%) and Water & Energy (+1.7%) sectors remained stable, supported by long-term infrastructure projects.
State Government Growth
State governments saw a 4.0% increase in opportunities as they began their new fiscal year with 2025 budgets, potentially due to initial ‘catch-up buying.’
The SLED market experienced a 6.0% decline in opportunities in Q3 2024, driven by the expiration of ARPA stimulus funds and new fiscal year budget adjustments.
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- 03 Executive Summary
- 04 Market Snapshot
- 07 SLED Project Counts Over Time Broader Market View
- 08 Agency Snapshot - Historical Trends
- 09 Quarterly Growth - Industry Ranking
- 10 Industry Ranking by Level of Government
- 11 Special Feature: The Rise of Artificial Intelligence in SLED Procurement
- 15 Glossary of Industries