Construction in Key US States (2020 Update) – Project Insight

GlobalData is tracking 12,260 construction projects in the US, both in the public and private sector, at all stages of development from announcement to execution; collectively, these projects are valued at US$3.9 trillion. The top 10 selected US states account for nearly 61% of the entire US construction market.

With annual expenditure reaching over US$1.4 trillion in 2019, the US construction industry remains one of the largest in the world. Last year, the industry added 5.6% to the US economy and employed 5.3% of the country’s total full-time workforce, according to the Bureau Economic Analysis (BEA). Nevertheless, construction output fell from 2.2% in 2018 to -0.1% in 2019 as political and trade tensions between the US and China weighed on economic activity. Other factors contributing to the overall decline in the industry included a lack of skilled labor, expensive land and rising material costs.

Among the major states, construction activity declined in New York, Pennsylvania, Ohio and Illinois, while construction growth slowed significantly in Florida, California, Washington and Georgia. In Texas and North Carolina, by contrast, growth remained solid, increasing at an equal rate of 2.8%.

Over the past five years, states such as Florida, Georgia, Washington, California and North Carolina have posted fast construction growth, expanding at annual average rates of 7.5%, 6.5%, 5.4%, 4.2% and 4.1% respectively. This was driven in part by an increase in investment in mixed-use properties, which have created significant opportunities in sectors such as residential, commercial, infrastructure and energy and utilities. In Florida, for example, the construction of mixed-use properties has been growing faster than in any other large US state. Other factors supporting this growth were corporate tax cuts as well as state and local authorities’ push to raise funds for public works and renewable energy projects via higher gas tax and user fees.

Scope

– This report focuses on 10 key states in the US, which are significant in terms of construction output, construction employment, overall size of the economy, population and construction project pipelines.

– The report provides an assessment of the current construction project pipeline by the 10 key selected states based on the CIC project database including analysis on total construction pipeline by sector and stage, projected annual spending on current project pipeline by funding method over the five-year span, as well as analysis on all major projects by value, start and end date, stage of development, funding mechanism, and leading contractors

Reasons to buy

– Gain insight into the key construction states in the US by construction sector, and stage.

– Assess the main drivers of construction investment in key US states, and financing methods.

– Understand the maintrends driving overall construction growth.

– Identify top projects by sector, leading contractors and development stage to better understand the competitive environment and inform your expansion strategy.

Companies mentioned

Balfour Beatty

Walsh Construction Co.

Tutor Perini Corp.

Parsons Corp.

Jacobs Engineering Group

Arcadis U.S. Inc.

The Lane Construction Corp.

Bechtel Corp.

Chiyoda International Corp.

Zachry Group

Traylor Bros., Inc.

J.F. Shea Co., Inc.

Dragados USA

Shimmick Construction

Herzog Contracting Corp.

AECOM Hunt

Table of Contents

Table of Contents

1. THE US CONSTRUCTION MARKET

2. CONSTRUCTION IN KEY US STATES

2.1. California

2.2. Texas

2.3. New York

2.4. Florida

2.5. Illinois

2.6. Washington

2.7. Georgia

2.8. North Carolina

2.9. Pennsylvania

2.10. Ohio

3. APPENDIX

4. ABOUT GLOBALDATA

4.1. GlobalData at a Glance

4.2. GlobalData Construction

4.3. Disclaimer

4.4. Contact Us

List of Tables

List of Tables

Table 1: Key Indicators by US States

Table 2: California Projected Annual Spending on Current Project Pipeline, by Funding Type (US$ million), August 2020

Table 3:California, Key Indicators

Table 4: California Top 10 Largest Construction Projects by Value (US$ million)

Table 5: Texas Projected Annual Spending by Funding Type (US$ million)

Table 6: Texas, Key Indicators

Table 7: Texas Top 10 Largest Construction Projects by Value (US$ million)

Table 8: New York Projected Annual Spending by Funding Type (US$ million)

Table 9: New York, Key indicators

Table 10: New York Top 10 Largest Construction Projects by Value (US$ million)

Table 11: Florida Projected Annual Spending by Funding Type (US$ million)

Table 12:Florida, Key Indicators

Table 13: Florida Top 10 Largest Construction Projects by Value (US$ million)

Table 14: Illinois Projected Annual Spending by Funding Type (US$ million)

Table 15: Illinois, Key Indicators

Table 16: Illinois Top 10 Largest Construction Projects by Value (US$ million)

Table 17: Washington Projected Annual Spending by Funding Type (US$ million)

Table 18: Washington, Key Indicators

Table 19: Washington Top 10 Largest Construction Projects by Value (US$ million)

Table 20: Georgia Projected Annual Spending by Funding Type (US$ million)

Table 21:Georgia, Key Indicators

Table 22: Georgia Top 10 Largest Construction Projects by Value (US$ million)

Table 23: North Carolina Projected Annual Spending by Funding Type (US$ million)

Table 24:North Carolina, Key Indicators

Table 25: North Carolina Top 10 Largest Construction Projects by Value (US$ million)

Table 26: Pennsylvania Projected Annual Spending by Funding Type (US$ million)

Table 27: Pennsylvania, Key Indicators

Table 28: Pennsylvania Top 10 Largest Construction Projects by Value (US$ million)

Table 29: Ohio Projected Annual Spending by Funding Type (US$ million)

Table 30: Ohio, Key Indicators

Table 31: Ohio Top 10 Largest Construction Projects by Value (US$ million)

List of Figures

List of Figures

Figure 1: US Construction Project Pipeline by State and Value (US$ million), as of August 2020

Figure 2: US Construction Project Pipeline (% of Total Project Number by State and Stage), as of August 2020

Figure 3: US Construction Project Pipeline (% of Total Project Value by State and Stage), as of August 2020

Figure 4: California Construction Projects Pipeline, by Sector and Stage (US$ billion), August 2020

Figure 5: Texas Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 6: New York Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 7: Florida Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 8: Illinois Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 9: Washington Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 10: Georgia Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 11: North Carolina Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 12: Pennsylvania Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 13: Ohio Construction Projects Pipeline, by Sector and Stage (US$ billion)

Figure 14:US Gross Domestic Product by State (Millions of chained 2012 dollars), 2019

Figure 15: US Gross Domestic Product by State (Millions of chained 2012 dollars, % growth), 2019

Figure 16: US Population by State (US$ million), 2019

Figure 17: US Population Growth by State, 2019

Figure 18: US Construction Output by State (Millions of chained 2012 dollars), 2019

Figure 19: US Construction Output Growth by State (Millions of chained 2012 dollars), 2019

Figure 20: US Construction Output Growth by State (Millions of chained 2012 dollars), Average 2015-2019

Figure 21: US Construction Employment (Number of Full-Time and Part-Time Jobs), 2018

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2745

Join our mailing list

Saved reports