Field Notes

Insights and advice from the construction field.

How Is Florida’s Growing Construction Industry Creating More Jobs?

Engineer and manager handshake at construction site

Florida’s growing construction industry indicates resilience and expansion throughout 2024. The increase in construction projects is creating more jobs this year.

Sector-Specific Construction Highlights in Florida

Many industries are undergoing construction projects in Florida:

  • Hospitality and Hotels: Construction projects align with market demands and occupancy expectations.
  • Multifamily Homes and Condominiums: Units are being constructed to meet the demand for residential spaces due to Florida’s expanding population.
  • Student Housing: Units are being constructed to accommodate the influx of students.
  • Retail: Florida’s population growth and consumer spending drive the demand to develop retail spaces.
  • Office Buildings: Buildings that are strategically located and modernized are in high demand.
  • Industrial Markets: The surge in e-commerce is increasing the demand for logistics and distribution centers.
  • Parking Structures: Mixed-use garages complement Florida’s urban development.

These construction projects create more jobs for skilled workers.

Florida’s Population Growth and Home Construction

Rising housing costs and low inventory are increasing the need for new home construction in Florida. As a result, the number of construction jobs is growing.

MoveBuddha used internal moving data and information from the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) to calculate where people were becoming residents in 2023. Six Florida cities ranked among the top 20 for new home construction. Miami (#9), Cape Coral (#8), Tampa (#7), Orlando (#4), Lakeland (#3), and North Port (#2) ranked in the top 10.  

The Florida Chamber Foundation anticipates 225,000-275,000 new Florida residents in 2024. The sunshine, beaches, tourist attractions, and absence of state income tax make the state a dream destination. Work location flexibility and snowbirds moving south increase the attraction of living in the state.

Florida’s Increasing Need for Infrastructure

Ready-to-build land is at an all-time low in most of Florida. Although central parts of the state are available, infrastructure is needed to support residential construction at scale. As a result, the new development taking place near existing suburban neighborhoods is causing population density concerns.

Challenges of rural land development

The development of roads, utilities, and other infrastructure can take 2-4 years. The process is capital- and labor-intensive. Also, owning undeveloped land long-term can negatively impact a builder’s balance sheet. Therefore, most developers prioritize construction in developed areas rather than rural land.

Methods to overcome rural land development challenges

Some Florida builders are purchasing rural land, selling it to infrastructure development companies, and buying it back after the entitlements are secured and the land is ready for residential development. This strategy can increase the state’s amount of buildable land and expedite homebuilders’ ability to meet the growing housing demand.

Infrastructure development firms can efficiently develop large amounts of land. As a result, partnerships with builders can keep up with Florida’s housing demand and reduce population density issues. These activities create more jobs for construction workers.

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