Tracy hunting
Executive Vice President and CEO Skanska
Moldy
Chuck Jablon
Senior Vice President, Skanska
Moldy
In recent years, the Bay of the Bay of the Gran Tampa has grown significantly, both its population and its construction economy showing constant increases. And Skanska, with its presence for a long time in the area, has remained more than occupied by delivering notable projects, such as the Court of Appeal of the Appeal Court of $ 59 million in St. Petersburg, aimed at its end in the fall.
“Our team is incredibly proud to build this strategically located milestone court to better serve the community,” says Chuck Jablon, a Skanska Florida Senior Vice President.
Across the region, several construction markets are “ booming ” thanks to the growing population, says Tracy Hunt, executive vice president and general director of Skanska Florida, who states that the growth of the population of Tampa Bay approximately 7% from 2020 to 2025 added more than 270,000 residents and, therefore, “ feeds the demand for hospitals, schools, homes and transport ”.
“Florida’s rapid growth has made health care and education the K-12 sectors of Skanska’s fastest growth sectors, with the main meters showing a strong activity,” says Hunt. “However, high interest rates have slowed down new housing and multi -family projects, although migration maintains demand in key areas.”
Dodge Data & Analytics data courtesy
At the same time, Hunt says: “ The construction of the K-12 is booming with reforms, expansions and retrofites. Skanska, collaborating with public schools in Hillsborough County, the seventh largest district in the country, for more than 20 years, offers improvements and new facilities to meet the demands for population growth. These projects reflect the commitment of the district for future education. ”
Noting that Skanska has completed more than 160 K-12 projects in Florida in the last twenty years, Hunt explains that “more densely populated counties like Hillsborough and Pinellas focus on repopulating or demolishing the largest schools to fulfill modern standards, while the counties with the highest land prioritize the new constructions for the growing population.”
Pointing to the continuous growth of the population of Tampa Bay, the report on the construction of the Skanska construction market for the spring of 2025 says that, despite this growth, “general costs, driving times and supply chains have stabilized”, which adds that “commercial participation in prices increases.”
“As the construction of the Orlando theme park slows down, the labor shortage is released, improving the availability of the workforce.”
—Tracy Hunt, Executive Vice President and CEO Skanska Florida
Currently, the Skanska report adds, while “the channeling of the higher education project seems to be stabilized … Housing projects, health care and K-12 show no signs of slowdown and continue to pressure on the existing shortage of qualified commercial workers.”
However, Skanska’s report states that “construction prices and inflation are constantly remaining within traditional indices, with annual increases that are usually less than 3% when projects plan for a period of one to two years.”
Another trend of the project that Hunt is seeing is the increase in the demand for technical career centers, such as the recent technical university project of 52,000 square meters of 52,000 square meters, designed and built to serve 900 students, who will train adults and high school students for qualified shops and technological careers.
“This is a shortage throughout Spain, with 94% of construction companies struggling to occupy functions on the site,” says Hunt. “The university helps to restrict the skills gap and increase economic growth.
In general, he continues, “the Tampa Bay construction market is still resistant, with a modest growth scheduled for 2025, led by healthcare, education and data centers.
“As the construction of the Orlando Theme Park slows down, the labor shortage is released, improving the availability of the workforce,” continues Hunt. “Workforce development centers such as Plantic Technical College and Dr. Michael A. Grego Pinellas County Leadership Institute address labor challenges forming a stronger local construction labor force for long -term stability.”
Dodge Data & Analytics forecasts, displayed above, project that both non -residential and total construction sectors will not be slightly increased by 2025, followed by healthy earnings by 2026.
In the meantime, the residential construction sector should see an increase in activity in both 2025 and 2026, with both single -family and multifamily beginners showing significant gains in the two years.
