2012 was the year the world was to come to an end. It didn’t . . . but, hopefully, the end is near, of one of the worst economic recessions for the U.S. construction industry since the Great Depression of 1929. According to the Associated General Contractors of America, construction employment expanded in half the nation in 2012 for the first time after a prolonged “six-year slump” – Not 80% of the nation, or even a majority of the nation, but just half the nation (25 measly states out of 50) . . . and this is the first time in six years! California, which added 24,500 construction jobs in 2012, was second only behind Texas which added 36,800 construction jobs in 2012.
More signs that the end is near from the little-rays-of-hope department, is Redwood City, California-based DPR Construction’s (“DPR”) recent announcement of its intent to acquire Hardin Construction of Atlanta, Georgia. DPR, which is the 24th largest general contractor in the country according to ENR.com with over $2.4 billion in revenues in 2011, specializes in technology, health-care, higher education, corporate and life sciences facilities and hopefully signals that at least some of the larger construction companies in the nation are feeling a bit more optimistic.
So, here’s hoping for the end.