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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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