Phoenix construction costs expected to rise in 2015

Construction Spending

Construction SpendingBy AZRE

On February 5, Mortenson released its quarterly Construction Cost Index report for Phoenix along with five other metropolitan areas in the U.S.

According to the report, non-residential construction labor, material and equipment costs in the greater Phoenix area are forecasted to increase 3% in 2015.

While costs fell in the latest quarter and there was 6% decline in local, non-residential construction employment last year according to data from the Bureau of Labor Statistics, Phoenix is expected to experience labor shortages due to the effects of healthy construction activity in California, Utah and Colorado.

After recording flat growth throughout 2014, a dip in quarter four brought the Phoenix index two points below the national average. This is the first time the local index has dropped below the national index since early 2011.

Continued:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Maricopa County to fund renovation of community spaces in Mesa; Thomas Galvin, District 2 Supervisor, Board Vice Chair, and Rose Law Group partner, comments on the investment in YourValley

Phoenix, Ariz. (June 26, 2024) – Visitors at the City of Mesa’s Firefighter Memorial, Historical Society, and i.d.e.a. Museum will soon enjoy an even more memorable experience thanks to the renovation funding approved by the Maricopa County Board of Supervisors on June 26. “These three facilities and gathering spaces honor

Read More »
February 2015
M T W T F S S
 1
2345678
9101112131415
16171819202122
232425262728