A recent GlobalData report shows 10 states account for nearly 60% of the total U.S. construction project pipeline value ($3.7 trillion), according to www.forconstructionpros.com.
GlobalData’s “Project Insight - Construction in Key US States” is based on data from more than 11,000 tracked large-scale country-wide construction projects and reveals California, Texas and New York are among the states with the highest value of construction projects in the pipeline. California has the largest number and value of projects in the U.S. construction project pipeline, with a total of 1,302 projects worth $524.6 billion; infrastructure projects and mixed-use developments represent a combined 56% of California’s total pipeline value.
“The construction of mixed-use developments is booming across many U.S. states, with the building of American city centers and suburbs coming to resemble one another due to changing demands from consumers and homebuyers,” says Dariana Tani, economist for GlobalData. “This is particularly the case for states such as Florida, California and New York. In Florida, the construction of mixed-use properties is growing faster than any other U.S. state, with five of the top 10 largest construction projects in Florida being mixed-use construction projects.
“The tech industry is also creating new demand to build more residential and commercial buildings, as well as transport infrastructure to accommodate the influx of workers,” Tani continues. “Big tech companies such as Google, Apple, Facebook, Microsoft and Amazon are encouraging significant investment. Among the most notable projects in the pipeline are Facebook’s $850 million Willow Campus Mixed-Use Development in San Francisco, Google’s $800 million Residential Development in Mountain View and Microsoft’s $1 billion Redmond Headquarters Redevelopment.”
