Apartment Industry a Contributor to More Robust Triad Construction Industry

According to analysis done by the Triad Business Journal the apartment industry is a contributing factor to the Triad’s improving construction employment numbers:

So just what’s going on in the Triad? Construction experts across the region point to number of factors that collectively contribute to the growth, such as institutional construction at colleges and universities, health care systems investing in new facilities, apartment construction going gangbusters, public projects such as the Guilford County jail and theGreensboro Aquatic Center, and numerous highway and bridge projects across the region.

The growth could also be reflective of the hit the Triad took in the recession. UNC-Charlotte banking professor Tony Plath says it’s difficult to give definitive data, but his sense is that the Triad suffered pronounced losses, particularly in commercial construction, in the recession.

“The Triad suffered a little bit more. The downturn was a little harder there in 2007 and into 2008,” Plath says. “Then the trajectory out of the downturn was a little bit better.”