Government backed infrastructure projects are prized contracts for contractors and subcontractors alike. How the infrastructure and construction forecasts look for each year is always of utmost importance to companies as they explore new opportunities. At South Coast Surety, we prepare our brokers and agents to meet the needs of construction clients providing the most current industry information. In this edition, we provide an overview of Dodge Analytics 2019 construction forecast.
While the overall construction industry is projected to have a modest 3% growth, there have been many state and local bonds passed and issued of the past year. This means while the private sector may be slowing and federal dollars have yet to be allocated through a budget deal, there are still many bid opportunities out there for construction professionals.
Below are highlights of the report’s projections:
Dodge Data and Analytics completed this forecast on October 25, 2018. We have linked to the complete survey for you and your clients to complete a deep dive at your convenience.
In addition to the Dodge report, Steve Swartz, President of South Coast Surety addresses environmental impacts on the construction industry. Steve explains, “2018 brought us extreme weather coast to coast. The significant storm and fire damage we’ve seen here in California and the severe weather in central states to the east coast has taken its toll.” He continues, “ The damage caused by these events requires significant rebuild and a greater need for contract surety”. He also points to the continued aging infrastructure nationwide as an area for growth in construction.
I have processed 2 defective title bonds through South Coast Surety and I am the type that gets worried for any little detail and want to make sure everything is done correctly the first time to prevent double work for myself and everybody. Knowing how I am both times I had to call customer service and they answered every little question I had in a very nice and gratifying way that made me feel I would not have any problems in which I did not. South Coast Surety has the ultimate best customer service.
Gaby - CA
I was shopping for a surety bond for the first time and having trouble communicating with several different companies. When I contacted South Coast Surety they responded quickly and performed the transaction quick and easy. I might have been able to find a lower price, but their professionalism was worth a couple extra dollars.
KG C. - CA
We are opening up a Mental Health Residential Treatment Center and needed a Surety bond since we will be handling some clients cash resources. I reached out to South Coast Surety, they sent me an application, paid our premium and had our bond sent to us immediately. Everyone I spoke to and emailed was courteous, attentive and responded very quickly. We will most definitely continue to get all of our bond services from South Coast.
John F. - CA
Great customer service from South Coast Surety. When I had questions about the bond and process, their customer service team assisted me with a sense of urgency and answered my questions. I recommend using their services. I will be a returning customer.
P&C B. - CA
I needed a surety bond and was referred by another company to south coast. I am very impressed with the level of customer service in every stage of issuing the bond, the rapid response to the get the bond issued and communication with the team. Great team and awesome service. I highly recommend South Coast Surety for you bond needs.
Mirwais A. - CA
I was in need of obtaining my CA Insurance Bond. I was able to obtain my required Bond quote online within minutes. I approved the quote and requested the Bond to be issued. On the same day, I received the Evidence of Coverage. Could not ask for better pricing or better service. I highly recommend South Coast Surety to meet a wide range of Bonding needs.
Udo G. - NJ
South Coast Surety has been proudly providing surety support to all fifty U.S. states for twenty years. Starting out as a small agency with a dream in San Clemente, California, we have steadily grown into one of the largest bond-only agencies in the nation. We write all commercial bonds and contract bonds for every American business and industry. Our greatest achievement is helping our clients grow their business alongside our own through coaching and obtaining larger bonding limits at the best rates. We work hard for our clients and take pride in bonding businesses that have been declined by our competitors.