BRISK CONSTRUCTION PACE FORECAST THROUGH 2000.Byline: Gregory J. Wilcox Daily News Staff Writer Construction activity across California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , already robust, should make sizeable gains through 2000 with a big chunk of it in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report released Wednesday. All types of construction - residential, commercial and industrial - are expected to increase by a combined 13 percent this year and 8 percent in 2000, concludes the Burbank-based Construction Industry Research Board. The board predicts that permits will be issued this year for construction valued at $49.6 billion and next year, for $53.5 billion worth of building activity. Ben Bartolotto, the board's director, said construction is being driven by job growth across the state, which is outpacing the national rate. Contracting activity will be robust over the next two years in home-building, heavy construction and highway projects, the board expects, while commercial and industrial building activity will grow at a slower rate than in the last two years. During the first eleven months last year, construction of single-family homes jumped by 12.6 percent to 115,456, according to the board, with a November rate that was the highest since December 1992. A larger share of the new construction should be in the southern part of the state, especially in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. counties, Bartolotto said. ``A 12 to 15 percent increase in those areas would not be difficult to achieve,'' he said. Ted Gibson, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the for the California Department of Finance The California Department of Finance is located in Sacramento, California. It is responsible resource allocation for the state’s annual financial plan. As part of the executive branch of the state, it is within the fold of the governor of California's administration. , said the forecast for residential building is reasonable. From 1946 to 1990, an average of 200,000 housing units got built in the state each year. That dropped to 111,716 in 1997 and about 124,800 last year. ``We're off the bottom, which was 84,000 units in '93, but we're still a long way from where we had been historically,'' Gibson said about residential construction. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion