State and Local Procurement Snapshot - Q3 2023

The third quarter of 2023 achieved a notable outcome with positive growth over an already exceptional third quarter of the prior year. Growth in Q3 also aligned with increased spending at the start of a new fiscal year for 46 of 50 state governments. The three levels of state, local and education (SLED) government all reaffirmed a continued return to post-pandemic normalcy as they each attained a similar growth rate.



What's Inside:
This timely report examines SLED market performance in the third quarter of 2023 and compares it with the same quarter of the previous year. It shows the growth rates of each level of government and each of the 12 industries we monitor. It also presents historical trends, project counts over time and a special feature article that highlights the key findings from GovWin’s recent “SLED Cooperative Purchasing Market Landscape” report, including insights from guest expert Tammy Rimes, Executive Director of the National Cooperative Procurement Partners.

“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:

Healthy SLED Market
The SLED procurement market showed stability with a slight +0.6% year-over-year growth rate in bids and RFPs, which takes the market to 102% of pre-pandemic normals.

State and Local Resiliency
The SLED market remains steady and relatively unaffected, despite conflicting forecasts and uncertainty about a possible recession.


New Fiscal Year
With Q3 representing the beginning of the new fiscal year for nearly all state governments, healthy bid levels suggest a degree of confidence and steady budgets as we look ahead to 2024.
 

8.9% The top four industries in Q3 grew by 2.0-8.9% in year-over-year gains, assisted by continued stimulus support. This growth was led by the transportation industry, with public safety, architecture & engineering, and professional business services rounding out the top four.

Get the SLED Market Industry Insights You Need to Stay Ahead of the Competition! Download Now >