Northwest Division, JE Dunn Construction
Portland’s unemployment rate is hovering around 3.5%, compared with the national jobless rate of 3.9%, and job growth in Portland over the next 10 years is predicted to be 42.4%, also better than the national average. The overall Portland market remains strong, with significant spending in the primary education and transportation sectors. Portland International Airport’s billion-dollar PDXNext program has years of work left on it, while TriMet, Portland’s transit agency, continues to make meaningful investments in new initiatives. Local bond measures continue to support K-12 improvements and new building, Stegemoller says.
Meanwhile, the hospitality and condominium markets are at maximum capacities, and capital expenditures in the higher education sector are trending down, he adds.
“The use of alternate-delivery methods is trending up in the region. The design-build delivery method—previously seen primarily in government projects—is taking over from CM/GC or design-bid-build, especially in higher education,” he says.