A significant percentage of all construction projects in the US are located in 10 key states, according to a recent report by GlobalData, with New York remaining one of the top areas seeing continued growth in both current projects and upcoming projects.
The report, which was released in June, shows the three states encompassing the largest number of projects are California, Texas, and New York. The report data includes not only public and private development but also infrastructure projects. It also takes into account both current projects and projects that are in the pipeline.
According to a summary of their report, GlobalData is tracking nearly 900 projects in New York, representing a total value of $409 billion. This figure includes projects in pre-execution and execution as of May 2019.
Rounding out the top 10 states with the most construction activity are Florida, Washington, Illinois, Pennsylvania, Georgia, Ohio and North Carolina.
These results are in line with recent reports pointing to continued growth and expansion in development and infrastructure projects in New York City. While residential development in NYC has curtailed somewhat in the past year, demand for office space and commercial properties continues to see growth.
In addition, the 2018-2020 Construction Outlook released in the beginning of this year by the New York Building Congress showed continued robust spending in all areas of the construction sector. The report projects that New York City construction expenditures will surpass $59 billion by the end of this year.