The Associated General Contractors of Alaska released its annual construction spending forecast prepared by Scott Goldsmith and Mouhcine Guettabi of the University of Alaska’s Institute of Social and Economic Research. The report provides an informative review and estimate of construction activity in Alaska for 2013.
According to the forecast, construction spending in Alaska in 2013 is estimated to be about $8.4 billion, up 8 percent from spending in 2012. Increased spending in the oil and gas sector will account for most of this growth. Spending in this sector is expected to be up 13 percent, from $3.2 billion last year to $3.6 billion in 2013. Also adding to expected growth, a large state capital budget for fiscal year 2013 and $453 million in general obligation bonds that voters approved for transportation projects in the November 2012 election.