Today’s Dodge 2014 Construction Outlook drew 150+ people from the Arizona Builders Alliance, Construction Financial Management Association and the Construction Specifications Institute . The presenter, Cliff Brewis, Senior Director Operations at McGraw-Hill delivered an uplifting economic message for most of the Arizona Construction Industry.
While the unemployment rates for Arizona remain high, their forecast is for unquestionable improvement of 25.5% for 2014. Almost every construction market sector should expect positive growth with Health, Hotel and Single family homes leading the way. While the education market is growing it is primarily in research facilities rather than higher education or public school districts. The only sluggish markets forecasted with negative growth are highway and multi-residential.
The 2013 construction numbers totaled $10,363,555 and are expected to reach $13,010,293 in 2014. While this remains well off the highs of 2006 with over $24 million the forecast brought smiles to the audience with a promise of recovery in Arizona dramatically outpacing the United States as a whole. Sunny days are here again!