South Carolina: Surging? Boeing’s selection of South Carolina for its new final assembly plant for the 787 Dreamliner has this state feeling positive.

McGraw-Hill Construction expects that to continue in 2010, as it predicts South Carolina to have the second-strongest percentage improvement in new contracts for states in the Southeast Construction region.

The company forecasts a 16% overall increase, for a total value of about $8.4 billion for 2010. Again, however, that increase will only partially offset last year’s larger decline of about 30%.

The nonresidential sector is expected to be flat with 2009 and deliver almost $3 billion in new projects. Considering that 2009’s projected total was 21% below 2008, that’s not great news.

Here, too, commercial and industrial contracts will fall in value. McGraw-Hill predicts a 15% downturn, for about $1.1 billion in new contracts. That will add to the pain felt by contractors working in this sector, which fell an estimated 23% in 2009.

Institutional building contracts will rebound nicely, however, improving by 13% to a historically standard level of more than $1.8 billion. (Actually, that would be the second-highest level in the past five years.)

Residential construction is projected to ramp up in South Carolina, too. After a 36% downturn in 2009 (for a $3-billion total), McGraw-Hill Construction forecasts a 25% increase for 2010, for about $3.7 billion in new contracts.

Nonbuilding—after a 33% overall dip in ’09—will show the greatest percentage increase in 2010, however. A 31% upturn should deliver nearly $1.8 billion in new infrastructure contracts. The public works subcategory will provide the vast majority of those projects. A 47% jump in this market will result in more than $1.7 billion in new contracts, for the second-highest total in five years.

After a colossal improvement in 2009—from just $12 million in 2008 to approximately $184 million last year—electric utility work will fall off by about 69% and total about $56 million, according to McGraw-Hill Construction.

South Carolina Construction
Millions of Dollars 2003 2004 2005 2006 2007 2008 Forecast 2009 Forecast 2010 2008-09 % Chg 2009-10 % Chg
Total Construction 9,799 11,072 12,835 12,581 14,694 10,386 7,284 8,445 -30% 16%
Nonresidential Construction 2,480 2,860 2,837 2,868 6,584 3,721 2,943 2,952 -21% 0%
Commercial & Industrial 1,178 1,149 1,235 1,324 5,190 1,704 1,309 1,107 -23% -15%
Institutional Buildings 1,303 1,711 1,603 1,544 1,393 2,017 1,634 1,845 -19% 13%
Residential Construction 5,661 6,565 8,789 8,570 6,830 4,654 2,989 3,723 -36% 25%
Nonbuilding Construction 1,658 1,647 1,209 1,143 1,281 2,011 1,353 1,770 -33% 31%
Public Works 1,649 885 1,191 1,122 1,225 1,999 1,168 1,714 -42% 47%
Electric Utilities 9 762 18 21 56 12 184 56 1396% -69%