NEW YORK—Construction, and more specifically, public works, are expected to help revive the flagging economy in the next few years, say industry experts. The economic stimulus bill, signed on Feb. 17, combined with a re-focus on infrastructure, will push transportation projects to the top of the pile, followed by buildings construction. Smaller projects in energy, water, environment and technology can expect a smaller slice of the construction stimulus.
“The stimulus bill will certainly be shaping construction this year,” said Robert Murray, vice president of economic affairs at McGraw-Hill Construction. As a result, the public works sector will be the “saving grace of construction” in 2009 and 2010, Murray said. Murray spoke at the McGraw-Hill “Managing Construction’s Financial Crisis” Conference in New York Feb. 24-25.
The conference focused on navigating the current market, new visions pertaining to construction, and preparing for a changing future.
