8 Associated Builders and Contractors, Inc. SAFET Y PRO AC T Michigan construction has been booming in this post-COVID economy. Positive signs are emerging in many key economic indicators—declining unemployment, increased spending, and rising consumer sentiment. This market has allowed many ABC SEMI contractors to remain busy and committed well into the fall of 2022. “The growth in commercial construction coincides with southeast Michigan’s continuing increase in population,” says outgoing ABC Chapter Chairman Drew Maltese, president of DJ Maltese Construction. “We are witnessing firsthand several indications that suggest commercial construction will continue to grow well into, if not throughout 2022. Many projects that have been sidelined for months are finally coming off the drawing boards and receiving funding. Amid an ongoing housing market boom, the commercial construction industry added 3,500 jobs in 2021, recovering more than 80% of the jobs lost over the course of the COVID-19 pandemic. Our biggest problem is we cannot train people fast enough to keep up with this demand.” Many economic forecasters in Michigan believe there is much to be optimistic about for construction in 2022. The post-pandemic environment has introduced several new market dynamics, which present with them new opportunities. At ABC SEMI we’ve seen change in the commercial market as entire companies relocate to new geographies or are purchased by investment brokerage firms. Many retailers or services businesses are following their clients and building outposts in new markets. While demand for retail space may be shrinking, warehousing needs have escalated and as a result warehouse construction is ramping up. “We are seeing more and more chain restaurants and franchises locating in areas where housing stock has risen,” said Luke Beach, President of Independence 2021 SHOWS GROWTH IN CONSTRUCTION AND CHAPTER ABC SEMI Continues to Grow with Industry Demand
RkJQdWJsaXNoZXIy Nzc3ODM=