MARKET WATCH TORO FOUNDATION SUPPORTS CONSTRUCTION WORKFORCE DEVELOPMENT WITH DONATION
2021 COMMERCIAL, MULTIFAMILY CONSTRUCTION STARTS UP 18% Commercial and multifamily construction starts regained lost ground in 2021 in most major metropolitan areas following the pandemic in 2020. According to Dodge Construction Network, the value of commercial and multifamily construction starts in the top 20 U.S. metro areas increased 18% from 2020 to 2021, compared to 16% on a national basis. In 2021, total U.S. commercial and multifamily building starts rose 16% to $236.6 billion from 2020 levels. Commercial starts were up 8% to $120.3 billion nationally, while multifamily starts were
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around the world to change the stigma surrounding careers in construction through education, conservation, events and advocacy. The Classroom Talks play a critical role in helping young people understand the many avenues available for a successful career in construction.
forconstructionpros.com/22005771 Crew Collaborative
Crew Collaborative, a nonprofit organization aimed at strengthening the construction workforce, has received a $15,000 grant from The Toro Company Foundation to support its efforts. The donation will exclusively sponsor Crew Collaborative’s Classroom Talks. “The Toro Company is committed to building the construction workforce and recognizes that successful construction careers start in the classroom,” says Judson McNeil, president of The Toro Company Foundation. “We’re proud to assist students as they begin their career planning by helping them understand all of the opportunities available in this critical field, including roles at TTC.” The Classroom Talks sponsored by TTC and facilitated through Crew Collaborative will take place routinely throughout the school year starting in fall 2021. Students will hear from industry representatives on the various career paths offered in construction, including those that require college degrees and those that can be started following high school graduation. Ninety percent of U.S. contractors have expressed concerns about the labor shortage, and 52% of construction workers were born before 1980, according to recent surveys. Crew Collaborative works to establish the construction community
25% higher at $116.4 billion. Out of the top 20 metro areas, the top 10 saw overall commercial and multifamily starts rise 18%, with only Washington, D.C., and Los Angeles posting declines. Commercial building starts were up 11% to $45.1 billion in 2021, while multifamily starts gained 25% to $48.0 billion. The top 10 accounted for 39% of all commercial and multifamily starts in the U.S., unchanged from 2020. The top three metro areas in 2021 were: New York with commercial and multifamily starts at $26.8 billion, a 14% increase from 2020; Dallas with $10.7 billion in starts, an impressive 45% gain over 2020 and Miami, with $8.4 billion in starts and a 65% increase from the prior year.
The remaining top 10 metro areas: • Washington, D.C., -9% ($8.4 billion) • Boston, +16% ($7.3 billion) • Los Angeles, -12% ($7.1 billion) • Atlanta, +49% ($6.6 billion) • Seattle, Wash., +48% ($6.2 billion) • Phoenix, +11% ($6.0 billion) • Houston, +5% ($5.5 billion).
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