Construction Today - January 2017 - 97
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the federal government and heavy investment from private companies in fields such as medical, video gaming and virtual reality.
All of this impacts the local construction industry because contractors
and builders are capitalizing on opportunities to grow their portfolios
and serve a high-demand market.
It's not quite Cape Canaveral at the dawn of the Space Age, but the
potential is there. Orlando is already considered the global leader in
MS&T, and the technology is constantly becoming more important in
civilian and military life.
In recent years, the Mayo Clinic has added a state-of-the-art medical simulation center, UCF has expanded its tech research and simulation programs, the Veterans Health Administration's new SimLEARN
initiative is improving the quality of health care services for America's veterans, and AVT Simulation just finished building the nation's
largest simulator program. On top of that, numerous companies such
as Fidelity Technologies and Cole Engineering are expanding their
presence and have required interior buildouts.
Of course, this is just a small slice of the work being done at the
Research Park, where construction is underway on the third phase.
The prospects are so bright that one equity firm, which already has
five office buildings in or adjacent to the park, is going forward with
plans to build a $5 million to $6 million project with no tenants lined
up. In these conditions, there's no reason to believe it won't be fully
occupied very soon.
Benchmark relied on
teamwork to complete
an expansion of Lancaster General Hospital.
Lake Forest Hospital is
98 Benchmark Construction
102 Newfield Construction
104 Barton Malow - Michigan State
106 Turner Construction -
Northwestern Medicine Lake
108 Rucon Inc.
While the MS&T situation is largely unique to Orlando, there are
similar opportunities for construction companies to service other
industries that partner with government agencies. Take manufacturing, for instance.
According to IBISWorld market research: "In the past five years,
federal and local governments across the country have increasingly
encouraged a manufacturing revival through targeted financial and
structural incentives, as well as through government contracts. Developments that meet certain employment thresholds often qualify
for tax exemptions or credits. These programs have begun to lure
manufacturers in certain industries such as green technology back
to the United States, generating demand for new industrial facilities.
In addition, larger players in this industry benefit from government
procurement policies favoring tenders by U.S. companies, especially
on defense-related contracts."
Moving to the infrastructure side of things, IBISWorld forecasts
that demand for bridge and elevated highway construction will
return as funding from the federal government slowly increases.
Likewise, the outlook for road and highway construction, in general,
calls for steady growth and greater private
sector involvement, via public-private
partnerships. Even water and sewer line
construction is expected to grow, thanks to
the long-awaited recovery of state and local
Across the spectrum, the story is the same.
Regardless of which industry you operate in,
opportunities abound - if you know where
Todd Andrew is president and owner of Andrew General Contractors, a full-service Orlando-based firm he started in 1996 after nine years of management and
operational experience in the construction industry. Andrew GC specializes in
commercial ground-up construction, interior buildouts and renovations. For more
information, visit www.AndrewGC.com or e-mail email@example.com.
JANUARY 2017 CONSTRUCTION-TODAY.COM