Public Construction Is Up 23.9%, But Private Construction Decreased (-6.3%), BidClerk Construction Index Finds
CHICAGO — (BUSINESS WIRE) — October 28, 2013 — For major-metro regions in the Southwest U.S., including Phoenix-Mesa-Glendale, AZ; Prescott, AZ; Tucson, AZ; Yuma, AZ; Las Vegas-Paradise, NV; Reno-Sparks, NV; Albuquerque, NM; and Santa Fe, NM, the BidClerk Construction Index™ (BCI™) reported a 11.3% increase in private and public construction projects that were actively bidding in a year-over-year analysis. Private construction activity decreased (-6.3%), while public construction increased 23.9%. The total value of all the Southwest U.S. major-metro projects reported on BidClerk that bid in the 3rd quarter of 2013 was $1.6 billion compared to a $2 billion total contract value reported in the 2nd quarter of 2013 by the BCI, reflecting seasonal trends.
In a year-over-year analysis, combined public and private construction projects that were actively bidding in the Phoenix region decreased (-6.2%). The total value of all Phoenix projects reported on BidClerk that bid in the 3rd quarter of 2013 was $700 million compared to a $900 million total contract value reported in the 2nd quarter of 2013 by the BCI, reflecting seasonal trends.
In a year-over-year analysis for the Las Vegas region, combined public and private construction projects that were actively bidding increased 22.6%. The total combined contract value for Las Vegas construction reported in the 3rd quarter of 2013 was $400 million, down from $600 million reported in the 2nd quarter 2013 by the BCI, reflecting seasonal trends.
In a year-over-year analysis for the Albuquerque region, combined public and private construction projects that were actively bidding increased 50%. The total combined contract value for Albuquerque region construction reported in the 3rd quarter of 2013 was $200 million, up from $150 million reported in the 2nd quarter of 2013 by the BCI, reflecting seasonal trends.
Among the high-profile projects bidding on BidClerk in the 3rd quarter of 2013 was PhoenixMart (Casa Grande, AZ). The developer for the project is AZ Sourcing LLC (Casa Grande, AZ). The Architect is Scottsdale-based H & S International, and the general contractor is McCarthy Building Co. (Tempe, AZ). The estimated cost to build the project is $184 million. (BidClerk project number 1667690: http://bidclerk.com/project/1667690.html)
The regions surveyed by the BCI include Phoenix-Mesa-Glendale, AZ; Prescott, AZ; Tucson, AZ; Yuma, AZ; Las Vegas-Paradise, NV; Reno-Sparks, NV; Albuquerque, NM; and Santa Fe, NM.
Today’s new construction project data was released by BidClerk, a leading provider of construction project data and marketing tools for building product manufacturers, contractors, and distributors. The BidClerk Construction Index is a quarterly data service offered at no cost to media outlets that cover regional construction news. Members of the media may request custom BCI reports for specific counties, regions, and states by contacting BidClerk: BCI@bidclerk.com.
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