Many construction projects were put on-hold last year as stay-at-home orders were implemented as a response to the Coronavirus pandemic. Not to mention, there is still a general uncertainty about the long term impact of the crisis on the economy.
However, US contractors are spotting movements in some cities where upcoming activity for construction in 2021 activity will be a worth watching. Here are the five metro areas that are considered hot spot cities for construction.
Buffalo, New York
While Buffalo, New York may not be the first city that comes to mind when it comes to construction, a lot more people and businesses are finding opportunities in this humble area. More businesses are discovering what Buffalo has to offer and that is driving construction.
Buffalo has everything that most great cities need. Apart from its very reasonable cost of living, this city has an airport, excellent healthcare facilities, public transportation, and a robust cultural scene. Businesses also have access to an educated workforce coming from prestigious schools like the University of Buffalo.
The pandemic has not stopped attracting businesses from coming down to Miami thanks to its sunshine and friendly environment. Neither did it stop construction.
Apart from having a climate that allows year-round outdoor activities, businesses are also taking advantage of having not to deal with personal state income tax and relatively low property taxes, which are strong financial gains.
With stay-at-home orders implemented forcing Americans to work remotely, this has created a huge demand on the country’s data center capacity.
Chicago, being one of the top data center locations in the USA, is primed to accommodate new arrivals in the sector. In fact, the number of megawatts constructed in the Windy City has doubled in 2020.
With numerous nearby colleges and universities, employers will benefit from working with some of the most talented, educated workforce in the country. The city is also relatively free from the threat of natural disasters and has a competitively priced supply of electricity, which is another must-have for businesses.
Chicago also offers data center developers tax benefits for building there and has one of the commendable action plans for the COVID-19 pandemic.
It seems like Austin has not been as affected as several other cities during the pandemic. With the threat of financial collapse, some companies have announced relocating to Texas due to its relatively low taxes as well as its business-friendly environment.
Austin also offers an array of entertainment including social and recreational opportunities, which are attractive not just for businesses but also for customers.
While construction spending was negatively impacted in 2020, and experts are seeing the same trend this year, the high demand for products generated out of Seattle is what keeps it on the list of top cities for commercial construction.
Seattle is home to major operations and headquarters for corporate powerhouses like Facebook, T-mobile, Google, Microsoft, Weyerhaeuser, and Boeing.
General contractors also see the need for new office construction in 2021 and beyond. Offices are not going to sit empty forever as not everyone will be able to work from home even after COVID. It’s just a matter of either creating new spaces or old offices will be revitalized to accommodate the new normal.