We like to devote at least part of each issue with a look at how the construction industry is shaping up. Sometimes we focus on a specific trend, company or sector. Today we are taking an overall look at how the construction industry is expected to perform in 2018 and beyond.
Most construction companies and asphalt paving contractors in Yakima are very optimistic about how things look for 2018. They are excited about the major projects they are taking on. And they believe the demand for construction services will go up from 2017.
Less than ten percent of the people who were questioned in a survey said they felt the dollar value of what companies earn will go down in 2018. Some believe it will stay around the same level as 2017, but a majority of them believe they are in for an upward trend. It means that things are looking good for construction and driveway paving contractors in Yakima – and in other parts of the United States.
There are some areas of the industry that are not so great. For instance, people are worried about how little demand there is for multi-family homes, higher education buildings, power buildings and other public sites. But K-12 schools and hospitals are trending upward.
Perhaps the biggest reason why people are excited about 2018 is because of the major transportation contracts that companies are getting. Whether it is for airports, railway areas, highways or other sites, these contracts are worth big money.
The biggest challenge highlighted in surveys refers to the ability for these companies to hire and keep workers. Some asphalt paving contractors in Yakima are already complaining about the lack of talent available to them. Companies are wondering if they will need to offer more training or raise wages in a bid to attract more workers.