In Tucson, the local economy is buoyed by defense spending and expected to continue to grow. Speculative office construction will probably remain slow. Vacancy rates are decreasing but still remain relatively high – currently in the 14% range. Jobs increased in 2004 by 1.5% and will likely continue to climb, generally an excellent economic indicator.

A positive trend for construction in Arizona and New Mexico: American Indians are beginning to put their casino dollars to work to improve tribal infrastructure. Tribes are now diversifying into resort and hotel construction; schools; senior healthcare facilities; hospitals; roads; public works; corporate offices; government facilities and other infrastructure throughout the Southwest.

A conference to promote contacts and increase cultural understanding between Indian owners and building contractors is scheduled for May 5-6 at the Crescent Hotel in Phoenix.
http://construction.asu.edu/busdev/cic/cic.htm

 

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