Project Insight - Construction in Key US States

Project Insight - Construction in Key US States

Summary

The US construction industry is a major contributor to the economy, accounting for 4.1% of gross domestic product (GDP) and employing 5.3% of the countrys total workforce. With annual expenditure reaching over US$1.4 trillion last year, the industry is one of the largest in the world. In 2018, output grew by 4.4% in real gross terms - up from 3.4% in 2017, according to the Bureau of Economic Analysis (BEA).

Recent corporate tax cuts together with state and local government efforts to raise revenues for public works has driven this growth. Among the largest states currently experiencing fast construction growth are Florida, Georgia and Washington, with annual average rates of 9.9%, 8.7% and 6% respectively over the past five years.

The is tracking 11,208 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$3.7 trillion. The top 10 selected US states account for nearly 60% of the entire US construction market.

Key Highlights

- With a total of 1,302 projects worth US$524.6 billion, California has both the largest number and value of projects in the US construction project pipeline. California is home to more megaprojects than any other states in the US, with its top 10 largest projects valued at US$139.5 billion. Six of these are transport infrastructure projects and two are energy and utilities projects. Topping the list is the US$79 billion California High-Speed Rail Line, the largest project in the US construction pipeline. Thanks to its dominance in the US energy sector, Texas has the highest number and value of energy and utilities projects in the US construction project pipeline.
- The is tracking 1,034 projects in the state with a total value of US$425.1 billion. Energy and utilities projects dominate with a value of US$152.7 billion, followed by mixed-used developments and infrastructure projects with values of US$67.9 billion and US$67.1 billion respectively. The is tracking 894 projects in New York with a total value of US$409 billion, of which 63% of the value are in the pre-execution and execution stages as of May 2019. Of the total number of projects tracked by The in Washington, 89 are residential buildings, 72 are commercial and leisure and 83 are mixed-use developments. Some of these projects are related to Amazon, Microsoft or Google or the expansion thereof, meaning office buildings and apartment buildings to house their workers. Microsoft, for example, is currently undertaking the redevelopment of its headquarters building in Washington.
- The project is costing US$1 billion, and is set to start this year. Among the major contractors building large construction projects in Illinois are Jacobs, Arcadis and Ardmore Roderick, which were awarded the construction contract to complete the US$4.7 billion Red and Purple Lines Modernization in Chicago while Thyssen-Krupp Industrial Solutions was selected to build the Tuscola Fertilizer Plant.

Scope

- This report focuses on 10 key states in the US, which are significant in terms of the overall size of the economy, construction output and construction employment, as well as having sizeable 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.

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. Washington
2.6. Illinois
2.7. Pennsylvania
2.8. Georgia
2.9. Ohio
2.10. North Carolina
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


Table 1: Key Indicators by US States
Table 2: California Projected Annual Spending on Current Project Pipeline, by Funding Type (US$ million)
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: Washington Projected Annual Spending by Funding Type (US$ million)
Table 15: Washington, Key Indicators
Table 16: Washington Top 10 Largest Construction Projects by Value (US$ million)
Table 17: Illinois Projected Annual Spending by Funding Type (US$ million)
Table 18: Illinois, Key Indicators
Table 19: Illinois Top 10 Largest Construction Projects by Value (US$ million)
Table 20: Pennsylvania Projected Annual Spending by Funding Type (US$ million)
Table 21: Pennsylvania, Key Indicators
Table 22: Pennsylvania Top 10 Largest Construction Projects by Value (US$ million)
Table 23: Georgia Projected Annual Spending by Funding Type (US$ million)
Table 24:Georgia, Key Indicators
Table 25: Georgia Top 10 Largest Construction Projects by Value (US$ million)
Table 26: Ohio Projected Annual Spending by Funding Type (US$ million)
Table 27: Ohio, Key Indicators
Table 28: Ohio Top 10 Largest Construction Projects by Value (US$ million)
Table 29: North Carolina Projected Annual Spending by Funding Type (US$ million)
Table 30:North Carolina, Key Indicators
Table 31: North Carolina Top 10 Largest Construction Projects by Value (US$ million)

List Of Figures


Figure 1: US Construction Project Pipeline by State and Value (US$ million), as of May 2019
Figure 2: US Construction Project Pipeline (% of Total Project Number by State and Stage), as of May 2019
Figure 3: US Construction Project Pipeline (% of Total Project Value by State and Stage), as of May 2019
Figure 4: California Construction Projects Pipeline, by Sector and Stage (US$ billion)
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: Washington Construction Projects Pipeline, by Sector and Stage (US$ billion)
Figure 9: Illinois Construction Projects Pipeline, by Sector and Stage (US$ billion)
Figure 10: Pennsylvania Construction Projects Pipeline, by Sector and Stage (US$ billion)
Figure 11: Georgia Construction Projects Pipeline, by Sector and Stage (US$ billion)
Figure 12: Ohio Construction Projects Pipeline, by Sector and Stage (US$ billion)
Figure 13: North Carolina Construction Projects Pipeline, by Sector and Stage (US$ billion)
Figure 14:US Gross Domestic Product by State (current prices US$ billions), 2018
Figure 15: US Gross Domestic Product by State (% growth), 2018
Figure 16: US Population by State (US$ million), 2018
Figure 17: US Population Growth by State, 2018
Figure 18: US Construction Output by State (Millions of chained 2012 dollars), 2018
Figure 19: US Construction Output Growth by State (Millions of chained 2012 dollars), Average 2014-2018
Figure 20: US Construction (Number of jobs), 2018

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