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Nonresidential construction continues to see growth according to the Federal Reserve. Despite a decline in residential construction, work in industries such as health care, education and public works is on the rise. With many project backlogs at high levels, contractors are anticipating that activity will remain strong through most of 2007.
Markets are particularly strong for nonresidential construction in the Atlanta, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, and Richmond areas. Although the development pipeline looks slower than average in Chicago and Richmond, the pace at which nonresidential construction is growing remains steady. A number of large projects are in progress or slated for the Little Rock area and industrial construction is strong in St. Louis.
This encouraging news is of particular interest to TAUC contractors whose work encompasses non-residential construction and maintenance.