Modest Recovery Expected for Florida Construction Starts in 2010

NEW YORK, Feb. 11,/PRNewswire/ -- McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), has released the 2010 Florida Construction Outlook. According to the report, foreclosure mitigation programs and stronger affordability will encourage the first signs of improvement in Florida's single family construction since 2005. The American Recovery and Reinvestment Act is also providing immediate help to the Florida economy and construction industry. A modest recovery of 5% for Florida construction starts is expected in 2010.

Highlights of the report conclude:

• Residential construction starts are expected to grow 14% to $8.9 billion in 2010, with single family housing rising 17% to $7.6 billion and multifamily housing declining only 1% to $1.3 billion.
• Commercial construction starts are projected to fall 2%, due to tight lending standards and falling asset prices, while institutional construction starts suffer from budget constraints at the state level, falling 8% in 2010.
• Public works continues to reap the benefits of billions in stimulus dollars, with highway construction being its largest recipient at $1.35 billion. Overall, public works will gain 36% in 2010, offsetting a 67% decline in the utilities sector, and aiding a 10% gain for nonbuilding.

In addition to the 2010 forecast, the report provides in-depth construction analysis by major sector, as well as construction starts for the area dating back to 2004 in more than 10 major categories, including stores and shopping centers, offices, hotels, manufacturing buildings, educational buildings, healthcare, public works, utilities, and multifamily and single family housing.

To purchase and immediately download a copy of the report, visit http://construction.ecnext.com/coms2/analytics2report_study_FLOL2010WIN or call 1-800-591-4462 for more information.

Media may contact Lisa Jaycox at 212-512-3272 or [email protected] for complimentary copies of McGraw-Hill Construction reports.

About McGraw-Hill Construction

McGraw-Hill Construction connects people, projects and products across the construction industry. For more than a century, it has remained North America's leading provider of project and product information, plans and specifications, and industry news, trends and forecasts. McGraw-Hill Construction serves more than one million customers in the $5.6 trillion global construction industry through Dodge, Sweets, Architectural Record, Engineering News-Record, GreenSource, and 10 regional publications. To learn more, visit www.construction.com or follow @mhconstruction on Twitter.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, Platts, Capital IQ, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com/.

SOURCE McGraw-Hill Construction

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED