Many plugged into the construction industry are seeing some good signs for the year ahead. Here are three things we have our eyes on in 2016:
1. General construction and building continuing to rise. Dodge Data & Analytics recently released their 2016 outlook. Dodge Data & Analytics is a leading provider of data, analytics, news and intelligence serving the North American construction industry. The report predicts that total U.S. construction starts for 2016 will rise 6% to $712 billion, following gains of 9% in 2014 and an estimated 13% in 2015. As the economy has rebounded and interest rates have stayed at or near all-time lows, many organizations are now investing in new projects or moving forward with projects that had been on hold for years.
2. Further integrating technology tools on the job site. In a previous post we talked about how we use 3D modeling to help customers understand what the finished product will look like so that we can better talk through plans together. Construction experts agree this is a growing trend that more and more contractors will adopt. From the consolidation of multi-ap tools to one core project management to more mobile devices on job sites, tech is finding its new role in the construction industry.
3. More employment opportunities in construction. The available labor pool for skilled construction work has long been an issue around Tampa Bay. With spending on nonresidential buildings expected to rise another $40 billion in 2016, this chasm between skilled labor and employment will grow. The improving economy calls for new projects, which requires even more employees… Know someone who is interested in breaking into a new field? There are a number of free ways to be trained, certified and employed in the field of Tampa Bay area construction.