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To address the current economic downturn, Congress will need to agree to multitrillion-dollar legislation aimed at improving our ailing roads, bridges, electric grid, and fund new solar, electric and wind programs. It is understandable that principals of the architecture, engineering and construction industry are currently focused on seeing their business through the current downturn. According to an IBISWorld U.S. Construction Industry Report, the construction industry worldwide is expected to decline 14.6 percent by year-end 2020 as a result of the COVID-19 pandemic. But needs related to improvements to health care facilities around the world, the redesign of hotels and airports, and large-scale projects, such as convention centers, will lead the way for billions of dollars of new construction. In addition to the $10.8 trillion the federal government has committed to keep the economy afloat, future government funding or loans that are federally backed will spur the design and construction of projects that benefit local communities and environmental or health-related programs. As discover more tourism, travel, and the hospitality industry will take longer to recover (in some cases, through 2024, according to industry surveys), consumers will be seeking to populate local entertainment venues, such as public parks and waterways, located within a day’s travel of their homes. In short, there will be inordinate opportunities for the real estate, design and construction communities to creatively stabilize their businesses, promote their next generation of leadership, and identify existing and emerging markets beginning in 2021. Only one question remains: Is your organization ready to embrace the post-COVID-19 future, or will it get swallowed by the past?

https://commercialobserver.com/2020/11/covid-construction-new-techniques-legal/

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