2014 Construction Slow for Arizona, New Mexico, Gains for Colorado, says Construction Reporter
Industry: Real Estate
Arizona lost 7,000 construction jobs in 2014 and New Mexico remained slow, while Colorado experienced a 4% increase in construction activity in 2014.
New Mexico (PRUnderground) December 29th, 2014
2014 Construction trends in western states were mixed in 2014 with Colorado gaining 4% in construction activity, Arizona losing 7,000 construction jobs, and New Mexico remaining sluggish.
The loss of jobs in Arizona is related to a slowing of the states’ extremely rapid growth in recent years, at 43 percent between 1960 and 2000. The past decade that rate has perhaps naturally slowed to 24 percent.
Mark Minter, executive director of the Arizona Builders’ Alliance, says the slow growth is due to many factors including the fact that outsourcing is reducing the square footage needed by employers to house a smaller staff. He also notes that high tech research facilities in Arizona are promising to grow more jobs.
New Mexico also experienced a slow year in 2014 according to Vicki Mora, Chief Executive Officer of the Associationed General Contractors of New Mexico.
However, she sayd 2015 looks to be a better year for the state, with growing investment in apprenticeship programs and workforce development programs, an indicator that growth is expected in the construction industries in 2015.
Colorado, on the other hand, experienced 4% growth in construction activity in 2014 and a construction job force that has grown from 112,000 in 2011 to 135,000 in 2014. This growth has resulted in a labor shortage for the state.
Population growth in Colorado, like Arizona pre-2000, has directly impacted construction numbers. The state has eperienced a 38 percent jump in growth over the past decade.
Population growth trends in New Mexico have been less extreme, with a 16 percent increase over the past ten year–though that rate is uneven with a whopping 29% growth of Las Cruces in the past decade.
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