Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Optimistic outlook

Optimistic outlook

Public and private projects are going up around the state

Published February 28, 2017 by Paula C. Squires

Companies are expanding and investing in Virginia, and that’s good news for construction. While some firms build out existing space, others are investing millions of dollars  in new ground-up projects. From data centers to hotels, new corporate headquarters and a contemporary art institute on the campus of Virginia Commonwealth University, projects are going up around the state in the private and public sectors.   

The construction industry also is hoping for a post-election bump. President Donald Trump promised during his campaign to invest in America’s infrastructure, employing millions of workers to build highways, bridges, tunnels and airports.

While those cards are yet to be played, more than $1 billion in state funding is expected for road projects in Virginia this year. Plus, activity has picked up in homebuilding as well, so it’s no wonder that Virginia contractors are optimistic about 2017.

“Contractors have relatively high expectations for 2017 as they predict the economy and demands for all types of construction will grow,” Stephen E. Sandherr, CEO of the Associated General Contractors of America said recently in response to an industry outlook survey done by the trade association. 

Forty-two Virginia firms participated in the survey. Asked about higher dollar volumes for projects, they checked off hospitals, public buildings, retail, warehouses and lodging as their top areas for expected growth. 

Yet the industry is not without challenges. Nearly 60 percent of the Virginia contractors reported having a hard time filling salaried and craft-worker positions, and they remain concerned about a continued increase in health-care and regulatory compliance costs.

Another challenge is price hikes for  materials used in construction.  Industry officials worry that any restrictions on the use of imported materials will further increase building costs.

Construction & Development charts:

  • General Contractors

  • Architectural and Engineering Firms

  • A sampling of Virginia's major construction projects

  • Commercial Real Estate Firms

Related Stories

No related posts.

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk