Spending for construction in Alaska—including both public and private spending—will be about $9.2 billion in 2014, up 18% from spending in 2013. Increased spending by the oil and gas industry will account for most of the growth in private spending, and a larger Department of Defense budget will lead growth in public spending. State-funded projects will also be a major part of construction spending, with a number of projects that were funded in recent large state capital budgets starting or continuing in 2014.
These are among the findings of a new forecast by Scott Goldsmith, professor emeritus of economics at ISER, funded by Northrim Bank and prepared for the Associated General Contractors of Alaska. To read the forecast, click here (PDF, 1.2MB).