Georgia Construction Industry Analysis

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Like virtually every other state, Georgia saw a slow down in  the construction industry due to COVID-19 . Pre-pandemic, the state saw modest growth in the early months of 2020, only to be halted almost entirely by March. It wasn’t until after May that the industry began to see signs of slow recovery. Now, a full year after the pandemic hit, what is in store for Georgia’s construction industry?

Georgia Commercial Construction

Most experts forecast commercial construction will be slower during the first half of 2021 as office and industrial markets aren’t likely to rebound quickly. This means it will be nearly the end of 2022 for a full return to pre-pandemic conditions across the country and in Georgia. It is however, not without opportunities. In fact, there will still be construction projects but it may take more work to find them. Much of the new work will be also come from the recent change in population the state has seen. As a southern state, Georgia actually saw more people moving to the state than ever before. That will mean new schools, hospitals, and other public buildings are needed to accommodate the increase of residents.

Georgia Residential Construction

Georgia’s residential construction is certainly positive. The supply of homes has not been able to keep up with demand, thus driving more new construction, particularly in some areas. Thanks to number of people relocating to places with less city and more space, several counties in Georgia saw their largest year-over-year increase in new home construction last year.  Affordable housing needs will continue to fuel the residential construction industry within the state for the next couple of years if these trends continue.

Opportunities For Georgia Contractors

Based on pre-pandemic growth and post-pandemic predictions, the construction industry has more opportunity for licensed contractors than ever before.  Before 2020, the U.S. Bureau of Labor Statistics estimated employment of construction managers to grow 11% from 2016 to 2026. The average salary for general contractors in Georgia is $55,000, but for licensed contractors in metro areas like Atlanta it’s closer to $75,000.

Becoming A Licensed Contractor in Georgia

Florida limits handyman work without a license to $2,500. That means anyone who wants to work on projects greater than that amount needs to get licensed with the state. If you’re ready to invest in your career to take on bigger and more complex projects, don’t wait any longer to get licensed. Learn more about Georgia’s Contractor’s License here or contact us today at 1-800-952-0910 to start get started!
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