In Onvia’s most recent quarterly market snapshot report, the State, Local and Education (SLED) Procurement Snapshot for Q3 2017, our analysis found that the market experienced another historically strong quarter of growth, with a 3.1% year-over-year rate of increase – although this growth rate has cooled somewhat compared to the last two quarters.
Following an unusually strong first half of the year, the state, local and education (SLED) market posts another solid quarter, impacted slightly by the hurricanes, and driven once again by continued strength in local agencies and schools.Paul Irby, Onvia Market Analyst
Our market research team found that growth was not uniformly spread across the country. In fact, states within the same region often had vastly different rates of growth in government bidding opportunities.
Below is an infographic detailing which states saw high growth, moderate growth, or flat/declining rates of growth in bids and RFPs in Q3 of 2017.
As the infographic shows, some states and geographic areas are seeing more of these new opportunities than others. Here are a few key findings uncovered in our latest research:
- In total, 17 states saw high rates of growth in bids and RFPs with rates of 10% or more – fewer states than grew at those rates in Q2
- States with two straight quarters of high growth (10% or more) included Montana, Pennsylvania, Wyoming, Minnesota, Alabama, Massachusetts, Vermont and Maine
- Several large states that typically see high volumes of government bids and RFPs, like California and Florida, experienced flat or downward growth rates for the second straight quarter
The graph below shows that both Florida and Texas were in the lowest tier of growth for this quarter, and both of those states experienced powerful hurricanes making landfall in Q3.
Measuring the impact of major hurricanes on bid volume can be a challenge. Neither Texas or Florida were experiencing particularly strong rates of growth in Q2, so a decline in government bids and RFPs being released was not unexpected – although the rapid rate of decline probably indicates that the hurricanes did have some sort of impact in slowing down Texas and Florida government contracting opportunities, at least in the short term.
Onvia’s Q3 Procurement Snapshot Gives You Insight to Grow Your Public Sector Sales
The full State and Local Procurement Snapshot report contains valuable data that helps government contractors in almost any industry to develop their public sector sales strategy. In this edition, the analysis contains a ranking of growth in government bids and RFPs by industry, as well as a special feature guest article from expert Mary Scott Nabers explaining why infrastructure reform and rebuilding will require investment from the private sector.
Interested in downloading a complimentary copy of Onvia’s State, Local and Education Procurement Snapshot for Q3 2017? Click below to request a report today.