Construction Today - January 2017 - 34

Commercial

By Lou Casale

Looking Ahead
to 2017

A

s we approach the new year,
reports across the industry
continue to suggest that 2017 will
be a great time to be in construction. Several markets across the country
are expected to see new all-time highs in
construction spending, beating pre-recession
levels. The New York Building Congress, for
example, forecasts spending on construction
this year will reach $43.1 billion, a 26 percent
increase from 2015 and the first time that
spending will eclipse the $40 billion mark in
the city.
In its 8th annual "DNA of an Entrepreneur Report," Hiscox USA found that while

34

CONSTRUCTION-TODAY.COM JANUARY 2017

small business owners in the construction industry are slightly less
optimistic compared to last year, many reported great improvements
to their businesses in 2016, with reason to believe that next year will
hold even more success.
As we begin to close the books on 2016, here's what is top of mind
for business owners in the construction industry.
Optimistic for the future, but cautious: Most business owners in
the construction industry are feeling good about the year ahead, with
65 percent reporting optimism for the future. Optimism is slightly
down in comparison to last year's report (71 percent in 2015), and
owners of small construction businesses are slightly more concerned
about the future than small business owners across all sectors polled,
at 17 percent versus 14 percent respectively.
Increasing concerns about government support: Fifteen percent
of respondents in the construction industry reported concern over


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Table of Contents for the Digital Edition of Construction Today - January 2017

Contents
Construction Today - January 2017 - Cover1
Construction Today - January 2017 - Cover2
Construction Today - January 2017 - 1
Construction Today - January 2017 - 2
Construction Today - January 2017 - Contents
Construction Today - January 2017 - 4
Construction Today - January 2017 - 5
Construction Today - January 2017 - 6
Construction Today - January 2017 - 7
Construction Today - January 2017 - 8
Construction Today - January 2017 - 9
Construction Today - January 2017 - 10
Construction Today - January 2017 - 11
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Construction Today - January 2017 - 16
Construction Today - January 2017 - 17
Construction Today - January 2017 - 18
Construction Today - January 2017 - 19
Construction Today - January 2017 - 20
Construction Today - January 2017 - 21
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Construction Today - January 2017 - 34
Construction Today - January 2017 - 35
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Construction Today - January 2017 - 37
Construction Today - January 2017 - 38
Construction Today - January 2017 - 39
Construction Today - January 2017 - 40
Construction Today - January 2017 - 41
Construction Today - January 2017 - 42
Construction Today - January 2017 - 43
Construction Today - January 2017 - 44
Construction Today - January 2017 - 45
Construction Today - January 2017 - 46
Construction Today - January 2017 - 47
Construction Today - January 2017 - 48
Construction Today - January 2017 - 49
Construction Today - January 2017 - 50
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Construction Today - January 2017 - 57
Construction Today - January 2017 - 58
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Construction Today - January 2017 - 60
Construction Today - January 2017 - 61
Construction Today - January 2017 - 62
Construction Today - January 2017 - 63
Construction Today - January 2017 - 64
Construction Today - January 2017 - 65
Construction Today - January 2017 - 66
Construction Today - January 2017 - 67
Construction Today - January 2017 - 68
Construction Today - January 2017 - 69
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Construction Today - January 2017 - Cover3
Construction Today - January 2017 - Cover4
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