Economic News

AGC Georgia enjoys a great relationship with Ken Simonson, AGC of America’s Chief Economist. He is a trusted resource for media outlets across the nation, and eagerly offers his time to provide Georgia-specific data to numerous publications our members and their clients rely on for construction market news and trends.

During a recent presentation, Ken Simonson shared  . . . 

Construction is a major contributor to the U.S. economy. The industry has more than 650,000 employers with over 6 million employees and creates nearly $1 trillion worth of structures each year. Construction is one of the largest customers for manufacturing, mining and a variety of services. A study performed for AGC by Professor Stephen Fuller of George Mason University found that an extra $1 billion in nonresidential construction spending adds about $3.4 billion to Gross Domestic Product (GDP), about $1.1 billion to personal earnings, and creates or sustains 28,500 jobs:
  • 9,700 jobs direct construction jobs located in the state of investment
  • 4,600 jobs indirect jobs from supplying construction materials and services, mainly within the state where the investment occurs, but some from other states
  • 14,300 jobs induced when workers and owners in construction and supplier businesses spend their additional wages and profits, locally and nationwide. 
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