AIA forecast predicts construction spending growth in 2014

January 29, 2013

Spending on construction and design will increase by 5.8% in 2014 and by 8% in 2015, according to the Consensus Construction Forecast.

AIA conducts the forecast twice a year with a panel of the country’s leading nonresidential construction forecasters, asking them to project business conditions in the construction industry for the next year to year and a half.

“Since the overall economy is stabilizing, there should be a significant improvement in the outlook for the construction industry that has been recovering at a slow and steady pace the last two years,” said AIA Chief Economist Kermit Baker. “At a more granular level, the surging housing market, growing commercial property values, and declining office and retail vacancies are all contributing to what is expected to amount to a much greater spending on nonresidential building projects.”

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As construction spending grows, so do opportunities to incorporate energy-efficient designs in your projects — and to earn the Section 179D deduction (up to $1.80 per square foot). As the country’s leading specialist in this deduction, Concord has the experience, knowledge and capacity to handle any project, at every step of the way. Contact us at 888-897-5445 or via the following link, and find out what Concord can do.

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