Economic Stimulus Supports Local Building Industry
An important role of government is investing in the infrastructure of a community. In Miami-Dade, an ambitious capital construction program is underway with hundreds of projects now on the drawing board ranging from small neighborhood improvements, such as parks and drainage systems, to the large, ambitious projects including the tunnel to improve access to the seaport and the new museum complex planned at the site of what is now Bicentennial Park.
Moving these projects forward in an expedited fashion can serve as a much needed economic stimulus during a tough period for South Florida's building industry. The County Commision is considering legislation to fast-track $700 million in public building projects.
The housing market and national economic slowdown has taken a toll on the local economy. One of the areas hardest hit are South Florida's building professions and trades, an important employment sector in our community.
Employment in the construction industry is down approximately 15% year over year.
While the slump in private sector construction is expected to continue for at least the short-term, government entities can help fill the gap by accelerating the contracting process for funded public works type projects. Miami-Dade County has hundreds of capital projects now underway, many thanks to voter approval of the Building Better Communities Bond Program, and is taking action to accelerate the contracting process for hundreds of other projects including work at the Miami International Airport, the Port of Miami and the ongoing construction of new water treatment and sewage systems.
Over the next 18 months, the County's large capital programs have committed to an effort to accelerate $700 million construction projects.
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