Jobs Create Jobs
Construction – like most things – is location specific. What happens in your own local market is much more important and impactful on your business than what happens in other parts of the country.
The rest of the country could be experiencing problems, but if your market is doing fine, then you’ll be fine, too.
For example, while the rest of the country fell apart during the Great Recession, Texas experienced only modest declines in their economy. Texans kept building and growing within their local markets. They didn’t experience the hardships that the rest of us went through.
Strong markets are defined by job growth and asset appreciation. For those of us in construction, our fortunes are much more dependent upon local job growth and favorable economic conditions. These affect our businesses much more than what the Dow is doing or whether or not Detroit is bankrupt.
When new jobs are created, there is a massive trickle-down effect throughout the area in the form of job creation to house and then support those new jobs.
The good news is that while the Nation’s economy and world economy are on shaky ground, Metro Atlanta has some projects that are sure to create jobs and have positive effects on the local economy – and our construction industry.
Here are a few of those projects and initiatives:
State Farm Hub – This new Dunwoody complex will add 2,500 jobs in the next few years.
Falcons Stadium and Braves Stadium – According to Brailsford & Dunlavey, the Braves Stadium alone will provide 4,014 new jobs and generate $4 million in tax revenue each year.
Multiple Apartment Towers – These new buildings in Midtown and Buckhead will provide construction jobs, while the new tenants will improve the economy within those sub-markets.
LakePoint Sports Complex – Located on more than 1,200 acres in Bartow County, this project will be one of the largest amateur sports complexes in the world. It will produce approx. 2,400 jobs.
Film Industry – Feature films and television productions in Georgia generated an economic impact of $5.1 billion during Fiscal Year 2013. The industry is responsible for more than 77,900 jobs and $3.8 billion in total wages in Georgia. Much of that activity is located on the South side of Atlanta.
Dredging of the Savannah River – Alright, I know this isn’t local. However, it will have a huge impact on Georgia’s – and Atlanta’s – economy. One expert, quoted in the Atlanta Business Chronicle, said that it will have as big an impact on Georgia as Hartsfield-Jackson Atlanta Int’l. Airport.
Cabela’s Store – While this new 100,000-square-foot store in Acworth will only employ 200 full- and part-time workers, I had to include it because who doesn’t get excited about wild animal mounts, a gun library and boat shop!?!
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While in Cleveland for the concrete convention,
my kids and I toured the USS Cod, an
awesome WWII submarine.
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There are many things that point to job creation, construction activity and positive momentum for Metro Atlanta. I wish I could say the same thing about the direction the federal government is taking us, but that’s a subject for another time.
To Your Success,
