The state's construction industry is forecast to spike 18 percent
ANCHORAGE – The state’s economy is expecting a huge boost from the construction industry.
According to a recently released report, 2014 will see $9.2 billion in revenue.
The eight-page report issued for the Construction Industry Progress Fund (CIPF) and the Associated General Contractors of Alaska (AGC) said the states construction industry is up 18 percent over last year.
Scott Goldsmith of the University of Alaska’s Institute of Social and Economic research contributed to the report.
“Finally, the economy has continued to grow, adding jobs and population,” he said.
The report underwritten by Northrim Bank, and issued for the 11th consecutive year, breaks out both private and public sectors of construction spending. It notes the oil and gas sector will account for nearly half of the total with $4.3 billion.
Click here to view the full report.