Building Industry Magazine - January 2014 - (Page 50)
CONSTRUCTION
ction
nstru 2014
Co iew
Prev
Building
Industry
Magazin
e's annu
st of
al foreca
the com
ing year
BY STACY POPE
Private
State
tions
Associa
Public
ers
Develop
Military
Construction Preview 2014 is Building Industry
magazine's annual forecast. It includes commentary
and predictions from more than 30 state, military and
industry leaders, along with lists of projects expected
to go out to bid this year by federal, state and county
agencies. Below we present a few highlights from this
year's edition, published in late January.
Federal
Utilities
Overall Upward
There's no question that Hawaii's
economy is "back." Gov. Neil
Abercrombie reports that as of October
2013 our state's unemployment rate
was 4.4 percent compared to 7.3
percent nationwide, and we begin 2014
with a balanced budget. Compare that
to a $220 million deficit in 2011, and
you can easily see how far we've come.
The shift in the economy has
taken some time to trickle down to
the construction industry, however.
Eugene Tian, economic research
administrator at the Department of
Business, Economic Development &
Tourism (DBEDT), reports that "the
construction sector in Hawaii experienced no real growth between 2009
and 2012, while the overall economy
grew by 6.9 percent." The year 2013
indicated a clear trend upward in
construction, with particularly
strong demand for permits in the
State
State and County Overviews
residential building sector. "The
permitted projects, and projects in
pipelines, could set a new record in
2014," he says, "with more than $8
billion in completed construction."
The Department of Planning &
Permitting (DPP) concurs with the
trend, noting that fiscal year 2013
showed a 29 percent increase in
building permits over the previous
fiscal year. "Even with a recent slowing
trend in the rate of growth," comments
Director George I. Atta, "the increase in
overall construction valuation for fiscal
year 2013 is an indication that the
state's economy is stabilizing."
Industries such as lumber and
cement are also reporting an
upswing in business, as are organizations such as the American Institute
of Architects, another angle for
foreshadowing construction projects
on the way.
Private
50 | BUILDING INDUSTRY | JANUARY 2014
Hawaii's state government will
continue to facilitate economic growth
by investing in infrastructure and
facilities through prioritized capital
improvement projects (CIPs). In 2013,
it expended $1.2 billion on CIPs;
in 2014, another $2.2 billion has
been appropriated for CIPs. Hawaii
Department of Transportation (DOT)
Director Glenn M. Okimoto details
many of these 2014 projects in his
report, including $99 million for state
highways, $101.3 million for state
harbor facilities, and millions more
dedicated for modernization projects
at airports from Oahu to Molokai.
And while we may experience
some "leveling off" in construction
activity in 2014 in comparison to
2013 in response to a recent slowing
of visitor numbers, Maui County
Mayor Alan Arakawa notes that
leveling off by no means equals
State
Table of Contents for the Digital Edition of Building Industry Magazine - January 2014
FEATURES MILITARY CONSTRUCTION
CCPI RESOURCE DIRECTORY
CONSTRUCTION PREVIEW HIGHLIGHTS
INSIDE THE ACECH
DEPARTMENTS Editor’s Corner
NEWS BEAT
Datebook
Contracts Awarded
Low Bids
New Products
Concept to Completion: Helemano UEPH Barracks
Best Practices: What’s Your Value Proposition?
Spotlight on Success: Outlets of Maui at Lahaina
Building Industry Magazine - January 2014
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