Contact Us
Make My Homepage

Positive Forecast For NJ Construction [AUDIO]

Kevork Djansezian, Getty Images

Yesterday, the New Jersey Alliance for Action hosted the 27th annual Construction Forecast Seminar with over 200 business, labor and construction professionals on hand to get a preview of the total projected public and private construction activity for 2012 and 2013.

The news was good.

New Jersey Alliance for Action’s estimates of capital construction activity for the next two years show an 18% increase over the projections from the prior two-year period.

“As the construction economy goes so goes New Jersey’s economy, so this is an important indicator or barometer as to whether the state is weathering this recession that we’re in,” says Alliance for Action president Phil Beachem.

In light of the current economic downturn, Beachem says he is pleased with the numbers in comparison to the 30% decline reported at last year’s seminar. He cautions however that decisions to be made in Washington—particularly involving transportation, healthcare and civil works projects—could affect the construction projections made yesterday.

There is and always will be the need for transportation work whether it’s new construction or repair. Beachem says, “It’s a question of funding though. If you don’t have the funding you can only do so much. These are not cheap projects they’re expensive projects.”

There’s a glaring need for a recurring revenue source to fund transportation projects. Beachem thinks the state must become more involved in public-private partnerships. He knows of at least one revenue raising idea that won’t fly. He explains, “A gas tax (increase) has always been the logical way to fund these projects, but reality says it’s not happening and I don’t think it’s going to happen and we have to understand that it’s not going to happen.”

Positive highlights in yesterday’s presentations came from increases in capital projects made by a number of the state’s independent authorities and government agencies. These included: the New Jersey Economic Development Authority, the Port Authority of New York and New Jersey, NJ Department of Transportation and NJ Turnpike Authority.

From the private sector, some of the major construction estimates came from NJ Utilities and New Jersey Chapter of the National Association of Industrial and Office Properties.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.