Time to Build

Over the past several years, many companies have put plans to build or expand on hold. Recently with the big news of the Atlanta Braves building a brand new sports complex and the Atlanta Falcons having a deal to build a new $1.2 billion retractable-roof stadium just south of the Georgia Dome, the future of commercial growth and development in Atlanta is looking up.It is projected that in 2014 we will see a rise in commercial construction by almost 17%. That is great news for those companies who have been putting building or expansion plans on hold. The CoStar Group quoted Robert Murray, McGraw Hill Construction's vice president of economic affairs as saying, "The bank lending environment is showing improvement in terms of both lending standards and the volume of loans and the improving fiscal posture of states and localities will help to offset some of the negative impact from decreased federal funding".In South Carolina, new commercial construction for 2014 is in the blueprint for the state. The 2013 Third Quarter Construction Outlook Report by FMI, commercial construction (retail) will be up 5%, healthcare will have growth by 6%, and educational and manufacturing will be up 4%. North Charleston, SC is where Boeing’s 787 Dreamliner is built and there is speculation that Boeing and South Carolina are in talks to use the 267 acres of land Boeing is buying adjacent to the Dreamliner assembly plant, to be the future home of Boeing’s build site for their next plane design.Tennessee Governor Haslam and Commissioner Hagerty, just announced the expansion of Brentwood, TN operations for W Squared. 2014 is projected to be a good time to build, expand and develop. In Gov. Haslam’s State of the State speech he announced funding allocated for new buildings at Nashville State Community College and Northeast State Community College, the University of Memphis, and the University of Tennessee - Chattanooga. Mary Ann Krautheim, senior vice president and unit manager of construction and insurance risk management company, Lockton Cos. said, “Generally speaking the construction market is healthy.”The country is planning, growing, and building.  From large-scale build sites to smaller sites around the region, Georgia, South Carolina, and Tennessee are continuing to lead the way in 2014.