The value of 2010�s retail construction starts in the four-state region of Florida, Georgia and the Carolinas is projected to come in just slightly below earlier estimates, according to McGraw-Hill Construction, publisher of Southeast Construction.

Southeast Retail Project Starts to Decline Again in 2010
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Unfortunately for area contractors, those estimates were already negative. McGraw-Hill Construction�s latest figures indicate the region�s retail sector should generate about $2.2 billion in new projects during 2010, down slightly from the estimated $2.3 billion experienced during 2009. For additional perspective, that forecast for 2010 would be the lowest total for Southeast-area retail construction projects in more than 15 years.

State by state, McGraw-Hill Construction indicates there will be some ups and downs. For example, Florida should see roughly $978.1 million in new retail project starts, which would be down from last year�s $1 billion total. South Carolina contractors, too, should experience fewer retail project opportunities, with that state�s total for stores and restaurants estimated at $243.9 million, down from 2009�s $293.6 million total.

On the other hand, Georgia�s retail sector will edge up slightly. McGraw-Hill Construction estimates Georgia will see $561.2 million in new retail projects move forward, up from last year�s $552.6 million. North Carolina will see marginal improvement, too. The Tar Heel State�s retail sector is expected to deliver $436.8 million in new retail projects, up from 2009�s $423.8-million estimate.

McGraw-Hill Construction
Stores and Restaurants Construction Starts (Billions of Dollars)
Average Annual Starts
1995-1999 2000-2004 2005-2009 Forecast 2010
Southeast Region 3.1 3.6 4.2 2.2
Florida 1.4 1.7 2.0 1.0
Georgia 0.7 0.9 1.0 0.6
North Carolina 0.6 0.7 0.7 0.4
South Carolina 0.3 0.4 0.4 0.2

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