The drive to bring manufacturing back to the United States has pumped piles of money, public and private, into construction, and absent derailment due to labor challenges, the momentum is expected to continue, creating a halo effect for smaller contractors.
Mega Builds and Ancillary Builds Too
“This is a once-in-a-lifetime or a once-in-a-century-type event that we’re experiencing,” is how a leading business consultant describes the opportunities stemming from efforts to onshore facilities for manufacturing. Though megaprojects are typically driven by big construction companies, smaller contractors can benefit from the “halo effect,” as Construction Dive reports:
Private companies have spent more than half a trillion dollars since 2021 to onshore facilities back to the U.S….As long as labor shortages don’t derail that momentum, that record amount of manufacturing construction activity isn’t expected to slow down….Even contractors beyond the megaproject scope stand to benefit, as historic spending spills over to other project types as well — such as warehouses, distribution centers and surrounding community infrastructure. That presents a lucrative opportunity for contractors not only involved in the megaprojects but also in the numerous ancillary projects required to support them.
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