Colorado's construction industry rebounding

01.31.2012


Colorado's construction industry rebounding
Colorado's construction industry rebounding

The construction industry in Colorado appears poised to recover through 2012 with hiring for new positions expected to increase compared to the last few years, according to a new survey released by the Associated General Contractors of America (AGC).

The study, which was called the 2012 Construction Hiring and Business Outlook and compiled by AGC and Computer Guidance Corporation, examined hiring versus layoff numbers, purchasing equipment and other factors related to the construction industry.

David Morrill, vice president of business development for an Aurora, Colorado-based concrete company, told the Denver Business Journal that the significant number of projects being discussed by customers has made him optimistic about the construction industry as 2012 begins.

"We’ve probably looked at more work in the last 3½ months of 2011 than we looked at in the last two or three years," Morrill explained. "There’s a lot of people talking about projects now - and that’s a good sign."

Among the sectors of the construction industry that are expected to contribute the most to the Colorado economy over the next year were energy and higher education, the survey found. Morrill also reportedly pointed to a recent study compiled by the University of Colorado Boulder's Leeds School of Business, which projected the state would gain 2,900 construction positions in 2012. This would represent the first positive growth in construction over the past four years, according to the Business Journal.

In addition to higher education and energy, the healthcare sector is likely to continue to aid the construction industry in Colorado moving through 2012. A recent announcement by one of the country's largest rehabilitation hospital groups could prove beneficial for construction in the Littleton area just south of Denver.

According to a release, construction on a new facility is expected to begin during the second quarter of 2012, with the hospital up and running by the third quarter of 2013. During the building process, approximately 300 to 400 construction jobs are expected to be created, some of which could be filled by staffing agencies.

"We look forward to providing our services to the residents of south Denver and the Littleton community," Jerry Gray, the hospital company's west region president, said in a statement. "This new hospital will complement our existing 64-bed hospital in Colorado Springs and will provide residents with access to our high-quality inpatient and outpatient rehabilitative programs."