Construction, Construction, what’s your function? North Texas steady boom Construction, Construction, what’s your function? North Texas steady boom https://www.recenter.tamu.edu/news/newstalk-texas/?Item=138122016-07-12T05:00:00Z2016-07-12T18:00:00Z

​​DFW - Developers are showing no signs of letting up on the construction of new apartment towers, office buildings, or industrial hubs in Dallas-Fort Worth even as construction costs continue to outpace the national average by two-tenths of a percentage point.

In all, construction costs in North Texas have increased 2 percent year-over-year ending in January, according to the RSMeans Construction Cost Index

Nationally, the upped construction costs stem from a shortage of construction labor and an increase in material costs. 

In Dallas-Fort Worth, Brian Straley, director of project management in CBRE's Dallas office​, said the construction labor force continues to be resilient.

"Construction firms continue to put workers in place at a remarkable pace to keep up with demand," Straley said. "Construction material costs in North Texas have steadied in 2016 with only recognizable price increases seen in concrete."

Dallas-Fort Worth labor rates are only 68 percent of the U.S. average labor rate.

The region has seen an influx of construction workers from other parts of Texas looking to capitalize on the North Texas boom. 

From 2005 to 2015, Dallas-Fort Worth's construction employment increased by 11.6 percent, according to the report.

Nationally, the number of construction-related workers declined by nearly 985,000 workers, or 15.8 percent of the industry workforce between 2005 and 2015.
Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2016/07/08/cbre-construction-labor-shortage-not-deterring-dfw.htmlRead more at {Source}

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