Rapidly Growing and Underserved Districts Feel The Pinch For Many More Facilities
Fueled by aging and inadequate facilities, the "baby boom echo," immigration and relocation, the K-12 construction market is providing a steady stream of work for contractors and design firms. In the first half of this year, construction started on $15.6 billion worth of school facilities in the U.S., a 4% increase over same period last year.
If the economy continues in its pre-Katrina trajectory, the growth should continue for the next few years, due to improving state and local government conditions and an increase in property values, which are closely tied to funds for school construction, according to McGraw-Hill Construction Research & Analytics. Like ENR, it also is a division of the McGraw-Hill Cos.