Even with a number of large-scale projects being built, West Michigan developers say they’re still thinking big for 2019. Multiple real estate and construction executives say they see no sign of the industry slowing down in the new year, although many believe companies’ focus could shift away from market-rate housing in downtown Grand Rapids.
More so than many other areas of the country, West Michigan has experienced tremendous growth in 2018, according to Anirban Basu, who serves as the chief economist of the Associated Builders and Contractors, a national trade group. His outlook is less rosy for 2019, which could be a transitional year for the U.S. economy. Meanwhile, he thinks 2020 could be the beginnings of the next economic downturn.
HUDSONVILLE — With a significant number of available jobs in the U.S. and persistently low national unemployment, companies looking for workers will struggle in 2019.
The rising price of steel and other building materials might cause sticker shock for some developers, but the costs are doing little to curb building activity around West Michigan.
Despite ongoing concerns about a talent gap, employment in West Michigan’s construction industry continues to rise.
West Michigan’s construction executives hold to the notion that the region’s industry will continue to accelerate for the foreseeable future, despite increasing concerns of a broader economic slowdown.
Despite a number of recent global and national industry reports pointing to potential slowdowns in the construction sector, West Michigan contractors say they remain busy and confident for the foreseeable future.