Dive Brief:
- Construction project data provider BidClerk, in its BidClerk Construction Index (BCI), reported a significant third-quarter boost in construction activity in Texas, Florida, Washington, DC, Pennsylvania and the Southwestern U.S. from the second quarter.
- The major markets in each of the following states/regions reported increases in actively bidding projects as follows: Texas: 3,800 projects (10% increase) with a total contract value of $17 billion; Florida: 2,100 projects (5% increase) with a total value of more than $8.4 billion; Washington, DC: 1,700 projects (5% increase) with a total contract value of more than $8.5 billion; Pennsylvania: 2,600 projects (3% increase) with a total contract value of more than $6 billion; Southwestern U.S.: 1,100 projects (11% increase) with a total contract value of more than $3.6 billion.
- There were more than 76,000 new U.S. projects worth upwards of $200 billion in the third quarter of 2015, an increase of 21,000 projects and $35 billion from the same quarter last year.
Dive Insight:
The BidClerk Index reported both public and private projects contributed to the increase, according to REBusinessOnline.com, and identified the significant projects in each region.
Texas projects out for bid include a $575 million school addition and expansion in Fort Worth and Liberty Mutual offices in Plano for $325 million. In Florida, BidClerk highlighted Phase VI of the Port Redwing project and a $50 million renovation and expansion project at the University of Florida in Gainesville.
Noteworthy in the Washington, DC, area are two mixed-use projects: the $175 million Capitol Crossing and the $112 million development at 33 N Street NE. Prominent projects out for bid in Pennsylvania include the $240 million River Chamber at Charleroi Locks and Dam in Monongahela River, and a $30.4 million educational facility in Phoenixville. Finally, major projects in the Southwestern region include a $115 million mixed-use development in Flagstaff, AZ, and a $75 million business park in Las Vegas.
BidClerk's findings coincide with Dodge Data & Analytics' recent Outlook report, which predicted total construction activity this year will grow 13% to $675 billion. Although builders across the U.S. are seeing heightened demand, companies in these states and regions are likely seeing the biggest booms in business, according to BidClerk.