Construction is a high-earning industry and a large one at that. There is currently a construction boom, but it is starting to slow. There is growth in single-family home developments, home-improvement projects. More women and minorities are getting jobs in this industry and more technologies are being used. There is still a labor shortage.

For this article we wanted to share some statistics to show you the current state of the construction industry and where it’s headed in the future:

1. In 2017, $1.23 trillion was spent on construction in the United States.
2. Construction costs are expected to rise 4.3% globally.
3. 77% of construction spending occurred in the private sector in 2018, which was about $951 billion dollars.
4. In 2017, construction accounted for between 7% of total U.S. GDP.
5. Single-family home construction is estimated at $267 billion.
6. Multi-family home construction rose by 7% last year, with $65 billion in estimated value.
7. Commercial construction was $85 billion in 2017, which up 11% from 2016.
8. Home improvement spending increased by 14% in 2017.
9. In the last three years, 56% of contractors registered their projects with the U.S. Green Building Council (USBGC) or Leadership in Energy and Environmental Design (LEED).
10. Construction for manufacturing sector decreased by 16% in 2017.
11. Construction for power and energy distribution fell by 5% in 2017, but it is still valued at $100 billion.
12. Amusement and recreation construction grew by 5%, largely by stadiums and casinos.
13. Conservation and development construction is at $8 billion dollars.
14. Transportation construction rose by 4% in 2017 from mostly work on ports and airports
15. 6 million people worked in the construction industry in 2017.
16. 15% of construction firms have a staff of over 1,000 people.

As you can tell the construction field is growing. You should be a part of it!

To be a contractor, you need a contractor’s license to work legally in most states. We are a Florida contractor licensing company. We help contractors across the United States get their contractor license.

We submit a completed application to the Construction Licensing Board on your behalf after getting information from you by phone or email. We know what the Board is looking for to get you licensed fast. We do all the heavy lifting for you.

To get your contractor license, click our Florida contractor license  page to learn more or call 239-777-1028 to get started with us.