We talk a lot about the impact that the construction industry has on our local Ohio communities. We have all seen firsthand how our industry proudly transforms our cities and small towns in every corner of the state. Our crews work together to build structures that promote progress, like in our schools and universities, offices and events centers, and more. This visible impact is proof of the hard work of the men and women in the construction workforce.
But in this post, we want to show you how their impact extends beyond the buildings they construct and to our society as a whole. We break down some of the most promising data from a recent report by the Associated General Contractors of America (AGC), The Economic Impact of Construction in the United States and Ohio.
The construction industry adds to our national and state gross domestic product (GDP).
As a valuable supplier of goods and services, the construction industry brings in high earnings for our local and national community. In Ohio alone, the construction industry contributed $26.2 billion to the state’s GDP. On a national level, the construction industry contributed $887 billion. Think of the ripple effect every earned dollar has. It may not be as easily seen, but it’s surely felt by all.
It invests in the future.
The construction industry prioritizes the future of a community as much as it does the present. The proof is in the numbers. In 2019, the United States as a whole spent $814 on nonresidential construction. In Ohio, $9.5 billion was spent on private nonresidential spending and another $9.7 billion was spent on the state and local level. With every penny put into every job, the construction industry commits to the wellbeing of our future.
It pays its people better.
To put it simply, jobs in construction just pay well. And this isn’t just for entry-level positions or for coastal cities. Ohio construction workers in particular are paid better than most. According to AGC’s findings, 5 out of 5 of the most common construction careers had a higher median pay than the median pay for all Ohio employees. This includes:
- Laborers, who earned $46,190.
- Carpenters, who earned $48,550.
- Electricians, who earned $52,880.
- Plumbers, who earned $55,280.
- First-Line Supervisors, who earned $66,360.
Each of these careers’ yearly earnings far surpass the median pay for all occupations as reported in 2019, which was just $38,560.
Given the labor shortage we still find ourselves in, this higher earning trend is sure to continue this year and for years to come. In the AGC-Autodesk Workforce Survey, 60% of firms in the U.S. and 62% of firms in Ohio still had unfilled craft positions this time last year. A fair and competitive wage that exceeds the average job, combined with more job opportunities means there is a gap to be filled and money to be earned.
If you’ve witnessed the positive effect the construction industry has had on the economy, whether at the local level or national, share your experience with us in the comments. Then, join us in our mission of generating pride and respect for the construction industry. Together, we can make an even greater impact on our economy through the construction industry.