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.
