Construction projects

Commercial construction is frequently an arbiter of changing economic conditions. Construction projects are both an increase in economic growth and an opportunity to boost the overall economy of an region. Read on to learn more interesting details about it.

This type of construction aids public sector agencies as well as private firms. Big new schools in regions where people are moving offer students the opportunity to learn in top-of-the-line facilities. New office buildings bring jobs to the region and the upward climb continues. The buildings do not only benefit the users however, the process of building will provide workers with a stable job for a long period of time, and the expenses from the construction process directly benefit economic development in the area.

It is believed that the United States is second in the Construction Altesse world for construction projects, in spite of the location where the firm doing the building is headquartered. About 10% of commercial construction is done in the US and New York is the city with the highest commercial construction in progress at $8.5 billion (that’s billion with a letter B) as of 2013. Much of the construction was for residential structures. Following New York were Houston and Dallas. Those two cities spent $10 billion on commercial projects.One of the most significant trends that is affecting commercial construction has been the use of green construction. Researchers from the Environmental Protection Agency expect that by 2017 as much as 48% of new building will be built using green construction materials. If you put it in economic terms, it could mean around $145 billion dollars.

In 2018, 84% of residential construction firms will at least a portion of their projects classified as green. To get an idea of the effect this has on the overall economy, take into consideration that residential projects make up at least 5% of the current Gross Domestic Product of the US. As more and larger companies incorporate green buildings into their plans, it could mean that as much as 18% of GDP could be built on green construction.

Large commercial office buildings are also going green. LEED certification is now becoming the norm and builders are getting up to 41% certified green as of the year 2012. How fast is this expanding? Consider that only 2% of residential construction and commercial, initiatives were certified as green by the year 2005. It’s no surprise that states like Hawaii as well as California are setting the standard for LEED projects.

It’s not just the US that is keen on green construction, though. LEED certifications throughout the world are becoming more widespread. An earlier study this year indicated that as high as up to 69,000 LEED projects are currently underway all over the world in 150 countries.

This construction is as important to the world economy as it’s always been, and the increase in construction projects in the last few years suggest an improvement after the global recession of 2008/09 and the slow recovery that ensued. With more green projects being proposed than ever before, commercial construction projects will be more eco-friendly that means everyone will be benefited for a long time to come.

Commercial construction is frequently an arbiter of changing economic conditions. Construction projects are both an increase in economic growth and an opportunity to boost the overall economy of an region. Read on to learn more interesting details about it. This type of construction aids public sector agencies as well as private firms. Big new schools in regions where…

Commercial construction is frequently an arbiter of changing economic conditions. Construction projects are both an increase in economic growth and an opportunity to boost the overall economy of an region. Read on to learn more interesting details about it. This type of construction aids public sector agencies as well as private firms. Big new schools in regions where…

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