A lot of people need to know why the construction industry is so important to the US economy. I mean, I always hear in the news how important this industry is. But, when I ask around what does that even mean, most of the people don’t know what to tell me.
This exact industry carries out a huge amount of development and prosperity all over the nation. I really couldn’t believe how much important this industry was until one economist friend of mine told me about it.
So.. read on to find out the 3 reasons why I think the American construction industry is essential for our country’s economy.
Reason #1: Profound Economic Impact
The construction industry is truly an industry that does a great positive impact on the American economy.
Many of you might be asking why this happens. One of the answers is that this industry has a large scope that influences many social and commercial sectors, from the hardware store next to your house to the computing industry as a whole. I mean, think about it, when you see a building being built a lot of things are taken into the mix to make that building possible!
On top of that, the government is always looking at the construction industry as this sector can make or break an entire economy. Why do you think that the first thing a president wants to do after winning an election is to multiply the public construction projects?
The U.S. government will spend an important amount of money in infrastructure including residential and energy projects. All of this just to improve the construction industry numbers! Crazy, right?
The kinds of different actors you’ll find in this industry are huge. We’re talking here about material suppliers, property developers, and the thousands of construction workers that will get a job thanks to this sector.
And.. it won’t be a surprise for you if I tell you that investors from all kinds of the background are always looking for deals in the construction industry, as they know that properties tend to go up in value over time.
Reason #2: Affordable Housing
The construction industry gives the American people a possibility to get affordable housing without spending crazy amounts of money. Now you tell me, aren’t you convinced enough about the greatness of this industry?
Moreover, America has a deteriorating infrastructure nowadays. Many buildings and infrastructures around the nation are coming down. So, it isn’t crazy to state that the country has a great possibility to invest in this beautiful industry without worrying about misplacing public funds.
The construction industry will also play an important role in the increase of renewable energy in America, as the government will invest heavily in this field. So it is fair to say that this industry is not only going to be essential for the economy, as it always was, but also will reinvent itself to keep up with the new realities that the world offers.
Reason #3: Carbon Emission Reduction, Old, and New Industries
As we all know; all governments have a plan. And the US government is no exception.
In this plan, our administration will be working hard to reduce carbon emissions, as this phenomenon has very bad consequences in our world that we, as one massive population, are starting to see. The good news is that in this plan, the construction industry will be a pivotal part.
In this new reality, there are a lot of people interested to find new sources of energy. And one great source of energy is the wind energy. In this context, the USA has a great advantage over the rest of the world due to the investments that have been being placed over the years in projects that fall in this category. So, it is fair to say that the construction industry is very likely to be working in the next decades with this beautiful new industry that will provide many construction workers with thousands new jobs!
As you can see, the construction industry is here to give Americans even more prosperity not only being essential for its entire economy, but also by being the motor by which many other industries can use to be the base of their growth. Awesome, right?
Conclusion
America needs the construction industry more than ever, as this awesome nation has an aging infrastructure that needs the aid of this industry as soon as possible. And it also needs the power and perseverance of the American construction worker to be the base of the creation of new alternative energy industries.
Civil engineers and other types of workers work hard every day to give America a better life. What we must do, as citizens of this great country is to make sure that our government keeps investing in the construction industry and in new alternative sources of energy that will create new jobs for the average construction worker!
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