Dive Brief:
- Construction of building and nonbuilding projects in the U.S. in 2012 resulted in spending of $855.4 billion, the best year since 2009 but well below the 2007 peak.
- Office, industrial, warehouse and retail construction accounted for $100.13 billion of that and supported 2.27 million jobs.
- The analysis of spending data gathered by McGraw-Hill Construction is sponsored annually by NAIOP, the Commercial Real Estate Development Association.
Dive Insight:
The report breaks down construction value by state, giving total value and the values for office, industrial, warehouse and retail. New York was first overall and in office and retail. Texas, second overall, led in warehouse construction and was second to New York in retail and office spending. The rest of the top 10 states were Iowa, California, Ohio, Florida, Massachusetts, North Carolina, Illinois and Georgia.