AGC Colorado (AGC/C) and McGraw-Hill forecast 2013 commercial ...

On Tuesday, December 4 at the AGC Colorado Annual Meeting and Outlook 2013, Cliff Brewis, Senior Director of Editorial Operations at McGraw-Hill Construction, presented estimated projections for the 2013 commercial construction industry related to job growth and economic impact as the state?s 6th largest industry. The forecast included an overview of the national economy, historical trends and expected activity for 12 different market sectors for Colorado.

?We expect conservative overall economic growth in GDP of 2.7 percent for 2013, with 6 percent growth in the construction industry,? Brewis said. ?The public sector will begin to stabilize, but it will not contribute significant growth, so 2013 will be highly dependent upon private business contributions. Probably the most significant activity that gives us confidence is we are seeing housing doing well which drives recovery,? he added. Colorado is in the front third of states in the overall recovery process. Construction is gaining momentum with the state?s construction industry adding 12,000 jobs since 2010. The state has also restored $100 million in local infrastructure funding for water, sewer and other infrastructure projects as a result of a collaborative effort of AGC Colorado and several other local groups.? AGC/C also helped gain more building maintenance funding for state buildings, called controlled maintenance.

?The McGraw-Hill Construction Outlook 2013 projections outlined at our year-end event appear to point to a brighter future for the Colorado construction industry,? said Michael Gifford, AGC Colorado President. ?And the funding that AGC Colorado and our allies have been able to help restore to the state?s infrastructure budget means more work for our local contractors,? he added.

Another positive sign supporting the conclusion that the construction market is turning up in a positive direction, is the Dodge Momentum Index, which reflects new construction projects added to the McGraw-Hill database. This index has been consistently trending upward.

According to the Outlook, the strongest construction sectors are expected to be apartments, assisted living facilities, hotels, hospitals and distribution centers.? K-12 education construction will remain constrained, but higher education is improving.

About AGC Colorado AGC is Colorado?s leading professional association for the state?s commercial building industry, representing approximately 375 firms. AGC/C provides benefits and business resources ranging from: networking opportunities in Denver, Colorado Springs and Fort Collins; dynamic committees; innovative education programs; construction safety services including a CHASE Partnership Program with OSHA; advocacy at a local, state and national level and more. The membership of AGC/C is comprised of general contractors and subcontractors (both union and non-union shops, public and privately owned; and, from very large to very small), suppliers and professional service providers.

It?s estimated that each year more than 70 percent of the commercial building construction in Colorado is completed by AGC Colorado members.

Source: http://www.jarodschultz.com/agc-colorado-agcc-and-mcgraw-hill-forecast-2013-commercial-construction-business/?utm_source=rss&utm_medium=rss&utm_campaign=agc-colorado-agcc-and-mcgraw-hill-forecast-2013-commercial-construction-business

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