Alcoa, Tenn. – With half of 2014 already gone, economists are better able to project trends for the rest of the year. In Tennessee, the overall economy is predicted to make only modest improvements, at least according to a Business and Economic Outlook report issued last week.
However, Hickory Construction, Inc., which builds new homes and commercial properties, is as busy as it’s ever been in the company’s 37-year history.
Even though new construction proves to be tepid in areas across the country, Hickory Construction has seen an increase in residential and commercial contracts to build new. Over the last 12 months the company has seen a 28 percent increase in new construction projects.
“Residential construction continues to grow, but commercial projects have really taken off well for us during the last 12 months,” said John McMillan, VP of Marketing at Hickory Construction, Inc. “We’ve seen a nice uptick in contracts, from medical facilities, dental facilities, educational, automotive and an overall wide verity of commercial building.”
Data from the National Association of Home Builders also indicates that Southern states have shown the most number of housing starts since 2009. Other regions of the country are seeing less than half or one quarter of the number of housing starts. The housing market, along with manufacturing, is leading the Tennessee economy right now.
“Hickory-Built homes and commercial properties provide lasting value for our clients who are ready to invest now,” said McMillan. “As far as we’re concerned, the economy seems to be bucking the trend in our region with regards to the construction sector.”