The construction market in Orlando is expected to be very active this year, with spending indices outpacing the rest of the U.S. by a fair margin.
Overall market volume is set to grow by more than 10% relative to last year – driven primarily by the infrastructure sector. The infrastructure sector benefits from nearly $3 billion in funding for a new airport terminal that is expected to open in July. This is the largest single expansion to an airport in Florida.
The Orlando market lags behind the rest of Florida, as tourism has yet to fully recover. The city sees more visitors each year than Paris and Venice combined, and the local economy depends heavily on these tourists. Things have been steadily improving, but the shocks to the economy are expected to be felt for a long time.