The state of New Jersey has seen a sharp decline in commercial construction jobs needing bids in the past few months. The month of June, saw a 34% decrease in new contractor bids posted versus May job bids. There were several factors contributing to the decrease. Many general contractors were forced to hold project start dates till the spring due to the harsh winter and record snowfall. The spring has historically shown an increase in government projects bidding specifically related to school construction. During the summer months schools have a limit time window to complete renovation and improvements. New commercial construction is expected to level out in the 3rd and 4th quarter of 2015.
The sample below is a small snapshot of commercial construction project schedule in New Jersey. Click here for a complete real-time listing of New Jersey construction projects.
|Project Name||City||Description||Bid Due Date|
|New Hotel and Restaurant||South Brunswick||New ground up construction of a hotel and restaurant, GC awarded project||8/17/2015|
|Town Place Suites by Marriot||Dover||New construction of a 102 room hotel, GC awarded project||8/17/2015|
|New Balance||Elizabeth||Tenant fit-out for a 3,765 SF retail store||8/10/2015|
|Gordiva||Cherry Hill||Tenant fit-out for a 1,100 SF retail store||8/7/2015|
|Yankee Candle||Moorestown||Tenant fit-out for a small retail store in a mall. Union bids only||8/6/2015|
|Inspira Hyperbaric Therapy||Woodbury||Tenant fit-out for a 2,593 SF medical office||8/5/2015|
The current economic climate and shows that many sectors are, in fact, on the road to recovery. The news is finally getting better for the construction industry! Labor and management continue to work together to address key issues that directly affect our state’s economy: Replenishing the state Transportation Trust Fund and the federal Highway Transportation Fund for the long-term, authorizing more funding for New Jersey school construction, and allowing the construction of a 21st-century energy grid and water infrastructure system that can stand the test of superstorms.
Each construction trades are ramping up recruitment of new, young workers to meet the construction industry’s workforce needs, especially as the aging workforce retires. According to the most recent hiring outlook from AGC of America, other states and regions of the country are feeling the pinch. But in New Jersey, despite devastating unemployment rates during the recession that drove some craftworkers into other careers, we still have a strong, skilled, safety-conscious and well-trained workforce in the union construction trades, and new, younger people coming in the fill the shoes.