Mon. Jun 27th, 2022

Commercial construction is frequently an indicator of the changing economic conditions. Construction projects can be a sign of an improving economy and a way to improve the overall economy of an area. Find out more about the subject.

This kind of construction is beneficial to both public sector organizations as well as private businesses. The new, modern schools that are built in areas where people are moving offer students the opportunity to be educated in top-of-the-line facilities. The new office buildings add jobs to the area, and the upward spiral continues. Not only do the buildings serve the clients however, the process of building itself gives workers a solid job for months and the expenditures from the construction venture directly impact your local economy.

It is believed that the United States is second in the Construction Altesse world in terms of this construction in spite of the location where the firm that is building the structure is located. As much as 10% of all commercial construction is done in the US, and New York is the city with the most commercial construction currently in operation – $8.5 billion (that’s billion with a B) for 2013. Most of the work was for residential buildings. In the wake of New York were Houston and Dallas. Those two cities spent $10 billion in 2013 in commercial projects.One of the biggest trends in commercial construction is green building. Researchers from the Environmental Protection Agency expect that in 2017 up to 48% of all new construction will be constructed using green building materials. To put that in terms of financials this could amount to more than $145 billion dollars.

By the year 2018 84% of all residential construction companies plan to include at least a small portion of their construction projects designated as green. To understand how much impact this will have on the overall economy, you should consider that residential projects make up as much as 5percent of the Gross Domestic Product of the US. As more and larger companies incorporate green buildings into their plans, it could suggest that as high as 18% of GDP will be based on green construction.

Office buildings that are big commercial are also becoming eco-friendly, too. LEED certification is now becoming the most common standard, and builders are reaching 41% green at the time of writing in 2012. How fast is this growing? It’s worth noting that just 2percent of commercial construction, non-residential, project were environmentally friendly in. It’s not surprising that states such as Hawaii or California are leading the way in LEED projects.

It’s not just the US that is interested in green construction, though. LEED certifications throughout the world are becoming more prevalent. A study that was released earlier this year indicated that up to six thousand LEED projects are underway across 150 countries.

The construction industry is as vital to the global economy as it’s ever been, and the rise in these projects over the past few years are an improvement following the global recession in 2008-09 and the soft recovery that was followed. With more green-friendly projects being planned than before commercial construction projects can be more eco-friendly that means everyone will be benefited in the future.

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