Dr. Anirban Basu shares his 2022 forecast for the Pennsylvania construction industry. According to Dr. Basu, various segments of the industry should expect strong growth in data centers, fulfillment centers, and public works projects, based on multiple infrastructure investments from the Federal government. He also shares which segments may have negative impacts. Office and commercial construction, hotels, and retail will see challenges as we move forward in 2022.

In addition to Dr. Basu’s input, Jon shares results from the annual KCA industry survey.

Within the episode, Dr. Basu discusses the various categories impacted by the workforce shortage and will continue to affect construction growth in certain industry sectors including senior living. He also shares statistics that highlight the combined workforce shortage and supply chain impacts that will slow certain areas of construction spending in 2022. The good news is that Dr. Basu anticipates price normalcy will return in 2022 and will help strengthen the industry as a whole.

The retirement gap and current Pennsylvania business climate is also discussed. Dr. Basu points out the impact of not having shop classes within our education system and how it has affected the industry. Additionally, he shares how the business climate in the state has impacted construction. You can read more about Dr. Basu’s thoughts and industry perspectives in the January issue of The Keystone Contractor Magazine.

Dr. Basu also shares his insight on the economy as a whole, the impact we will face in the future, and what we can expect in the coming years.