WASHNGTON -In a Maryland suburb, county officials have proposed an increase in its capital budget for more construction. Patricia O’Neill, president of Montgomery County board of education, said she’s seen prices for projects drop 25 percent, making this year a prime time to build. But the Montgomery area is an outlier, as counties across the country are cutting back on construction.
Nearly 9 in 10 surveyed contractors said they expect 2010 to yield virtually no signs of economic recovery, according to the Associated General Contractors. Spokesman Brian Turmail noted he’s seen the construction sector drop double digits, with the AGC expecting 2010 to bring in $846 billion from what used to be a trillion dollar industry.
“While the rest of the country is suffering through the after-effects of a pretty severe recession, construction is in a full-scale depression,” said Turmail. “Every state in America has experienced massive layoffs, and it’s really hard for us to see when things are going to start turning around.”
The county council will vote on the proposal at the end of May.