Private construction can have a tremendous impact on a state’s economy. A new report by the Associated Builders and Contractors (ABC) ranks all 50 states based on their contribution to state gross domestic product.
In 1997 and 1998, construction accounted for 6.14% of national GDP. That number declined dramatically the following year and has risen slowly ever since. In 2013, the most recent year for this data, construction was 3.73% of national GDP. That number does not include related costs such as transportation, the demand for building materials, financial services or subsequent purchases from buyers. These additional costs add as much as 2 to 3% making construction even more [Read more…] about Top 5 States for Construction as a Percentage of State GDP