The Colorado construction industry keeps growing, although the number of jobs offered is still below the needs in this sector, due to the rapid and substantial population growth. By 2023, almost 60,000 jobs are expected to be added to the existing ones.
The metropolitan area will continue to invest in infrastructure construction, but residential real estate market will also keep growing, as a response to the housing demands; last year, it represented about 50% of total construction value. Single-family permits will rise significantly more than multifamily construction.
Studies also anticipate an increase in retail construction, due to the demand for local distribution centers and warehouses, with a much higher demand for exceptional electrician Denver technicians.
As about trends in materials and durability, there will be a rise in eco-friendly products and energy efficient solutions. More and more construction companies are expected to consider the LEED-certification and use more and more recycled materials; green buildings in Colorado should double by 2020.
During the next years, the construction sector will also experience a better integration of technology, which means that the time to accomplish a project will be reduced, not to mention that there will be better visibility and accountability of jobsites, due to a more efficient use of real-time video feeds and data reports.