The United States construction industry is considered to be one of the largest markets within the world. Currently, this industry’s annual revenue is $1.731 trillion with expenditures that exceed $1,162 billion. In 2016 alone, for example, the value of non-residential local and state government construction was $257.6 billion. ConstructConnect’s forecast indicates that there will be an increase of 7.4% in residential construction spending during 2017, and non-residential spending is expected to increase by 5.5%.
Given the number of construction jobs underway, it’s not surprising there there are 7.8 million production workers within this industry. In order to construct a non-residential or residential structure, there are a number of steps that need to be completed before the project can even be started.
