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Orlando’s construction industry to pick up in the near future, UFC report says

Because we often handle construction litigation cases, we are quite familiar with Orlando’s construction industry, and we make an effort to keep tabs on relevant developments in the field.

As many of us know, the recession of 2008 really did a lot of damage to the construction industry. As consumers cut back, businesses scaled down expansion and relocation plans accordingly. That translated into a dramatically shrunk market for new buildings, and the construction field contracted severely. As recently as 2006 or so, there were about 90,000 Central Florida residents working in the construction industry; today, most experts estimate only about half as many are still employed.

Recently, we read about an interesting report from the University of Central Florida. The report predicted that hiring in the local construction sector will likely pick up during the second half of this year and continue on a general upward trend. By 2016, the report predicts that economic activity in the Orlando-era construction industry will be back to 2000 levels.

(In many industries, 2000 or so is considered a golden era because things were so good, economically speaking, then.)

The report has attracted some skepticism in local media outlets, though, because there seems to be some feeling that its outlook is a bit too rosy. Of course, we hope that UCF is correct. The construction industry is very important to any regional economy, and ours is no exception.

Source: The Orlando Sentinel, “Orlando’s battered construction industry will take years to rebuild,” Jim Stratton, Jan. 10, 2013

  • Our Orlando law firm works on construction litigation cases, among others. For more information, you could visit the Construction Litigation page of our website.

Fri Aug 24, 4:54pm

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