Sponsored by Forest Grove Economic Development
Home Back Issues August 2006 Construction flexes economic muscle

Construction flexes economic muscle

| Print |  Email
Archives - August 2006
Tuesday, August 01, 2006

During the past year, Oregon employers added 58,100 nonfarm jobs, a 3.5% gain. Of all sectors, construction added the most jobs (11,400) and grew the fastest (12.7%), more than three times the national rate of construction growth. The turnaround for Oregon’s construction industry came in July 2003, after losing 8,600 jobs (10%) during the recession. Rapid growth has touched all parts of the industry. Residential building jobs climbed 20% over the past year. Oregon housing permits jumped 14% in 2005, the seventh-fastest in the United States, as low interest rates, a growing population, second-home purchases, innovative mortgages, and speculative buying in markets such as Ashland and Bend boosted the state’s housing market. Meanwhile, year-over-year growth in commercial and industrial construction topped 17% in May. Hospitals, shopping centers, and medical offices are being built throughout the state. Also under construction are a minimum-security prison in Madras, Google’s plant in The Dalles, Lowe’s 1.4 million-square-foot distribution center north of Lebanon and Symantec’s 200,000-square-foot Springfield addition. Sewer work, road repair, and other infrastructure improvements are also keeping heavy and civil engineering firms busy, with nearly 400 Oregon bridges targeted for repair.

— Amy Vander Vliet, regional economist
Oregon Employment Department

{safe_alt_text}{safe_alt_text}



Comments? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

Portland rises

News
Monday, August 18, 2014

IMG 2551Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.


Read more...

OB Video: Dress for Success

News
Wednesday, July 02, 2014
DFSOBY JESSICA RIDGWAY | OB WEB EDITOR

Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.


Read more...

Managing family assets: The importance of planning ahead

News
Friday, August 22, 2014
Unknown-1BY CLIFF HOCKLEY |  OB GUEST CONTRIBUTOR

When business intersects with family, a host of  situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.


Read more...

Attack of the Robin Sages

Contributed Blogs
Monday, July 07, 2014
070714 thumb linkedinfakesBY TOM COX | OB BLOGGER

Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.


Read more...

Two sides of the coin

Contributed Blogs
Monday, August 25, 2014
0825 thumb moneyBY JASON NORRIS | OB GUEST BLOGGER

Ferguson Wellman’s investment views on the economy and capital markets.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

Who said we should sell in May?

Contributed Blogs
Friday, July 18, 2014
BullMarketBY JASON NORRIS | OB GUEST CONTRIBUTOR

Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS