Construction leaders from across New Jersey gathered today and forecast 37.3 billion in upcoming construction work across the state in 2020 and 2021.
The projections were provided at the New Jersey Alliance for Action’s 35th annual Construction Forecast Program, attended by over 200 construction engineering, contracting, labor, higher education, utility, government corporate and other leaders.
New Jersey State Treasurer Elizabeth Maher Muoio led off the speakers with a presentation on projects being undertaken by the State Department of Treasury including renovations to the historic state house complex.
Representatives of more than 25 public and private agencies followed with details on utility, college, school, transportation, aviation, water, corporate and other capital construction initiatives set to hit the streets in 2020 and 2021.
Philip K. Beachem, President of the non-partisan Alliance for Action, pointed out that New Jersey’s utility companies, with projected construction of nearly $9 billion over the next two years, continue to drive New Jersey’s economy, job growth and improving lifestyle.
Other strong construction numbers were reported by the NJ Association of Industrial and Office Properties, New Jersey’s transportation agencies, hospitals and the U.S. Army Corps of Engineers.
Beachem stated that the construction economy is a strong indicator of the overall State economy.For more information contact Philip K. Beachem, President, New Jersey Alliance for Action, (732) 225-1180.