The national outlook for the construction industry remains positive, though some regions are outpacing others on the road to recovery. As new projects get started across the country, here’s a look at where the U.S.’s current and future construction hot spots lie.
The Big Apple Gets Bigger
New York City leads the way, according to a recent report from Forbes.com. The City (and its NY and NJ suburbs) remains strong in residential and non-residential development. Two massive projects, the Brooklyn Navy Yard and Prudential Financial Office Tower, are fueling the construction industry state-wide.
Dallas, Houston, Washington DC, and Atlanta follow the Big Apple as leaders in new construction.
New data from McGraw Hill Construction revealed that the geographic areas with the strongest results for the first five months of 2013 were the West (+10%), Northeast (+7%), and the South Central (+6%). Negative results were noted for the Midwest (-7%) and South Atlantic (-22%).
Two states with a continued upward trend are North Dakota and Louisiana, due in large part to their respective energy booms. Construction projects and jobs there have increased in step with the influx of workers to the drilling fields. Louisiana ranked second on the AGC of America list of State Construction Employment figures, with both states experiencing all-time highs.
According to Reed Construction Data’s Expansion Index, areas with the most 12-18 month potential are consistent with MGH’s reporting: the coastal areas in the Northeast, the aforementioned major cities in Texas, parts of South Florida and Southern California, (with short-term future “Hotspots” noted in Louisiana and North Dakota).
We’re pleased to see construction bounce back in these regions. We’re interested to hear what’s happening in your neck of the woods. Is business getting better, or worse? How are you coping? Tell us in the comments below.