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December 4, 2018
Dec. 4, 2018
The value of construction projects in Houston also increased between Oct. 2017 and Oct. 2018, jumping to $3.4 billion from $1.9 billion, according to Dodge Data & Analytics. The energy and chemical sectors are a significant driver of building activity in the area.
In October, German manufacturing company Covestro announced it is planning a 1.5 billion-euro methylene diphenyl diisocyanate (MDI) plant in nearby Baytown, Texas. The facility will be able to produce 500 kilotons of MDI (which is used for polyurethane insulation and other materials) annually and will replace existing Covestro facilities on the site.
The Houston area is also recovering from last year’s Hurricane Harvey, which devastated commercial and residential properties with record flooding. Harvey caused an estimated $125 billion of damage, and the demand for construction services remains high. In an effort to prevent damage from future storms, Texas officials and the Army Corps of Engineers are developing a $23 billion to $32 billion plan for a “coastal spine” system of flood protection and draining infrastructure to protect the Texas Gulf Coast.
The coastal protection project will get more than $2 billion of federal money, as part of the almost $6 billion in water infrastructure projects outlined in America’s Water Infrastructure Act of 2018 that President Donald Trump authorized in October.
https://www.constructiondive.com/news/houston-leads-construction-job-growth-for-the-year-ending-october-2018/543520/
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