Population Boom in Texas Means More Construction

Texas has seen significant growth in the construction sector in the last several years. The booming population growth and increase in businesses moving to the Lone Star State require the services of local construction companies to build new homes, industrial facilities, and commercial properties.

If you own a construction company, now is the time to capitalize on Texas’s growing economy. Discover why the population boom in Texas means more construction and how you can prepare your company for the growing need for construction services.

Population Growth in Texas

The population growth in Texas’s big three areas, Austin, Dallas, and Houston, is due to a few factors.

Attractive Lifestyle

These locations offer an attractive lifestyle for those who move to the area. Texas is one of the country’s most affordable places to live, despite an increase in median housing prices last year. Texas offers a pleasant climate and high quality of life to its residents. Families with children enjoy the excellent schools, parks, and libraries the state provides.

Booming Housing Market

The Texas housing market is booming, as is the commercial real estate sector. Median housing prices have increased by as much as 33.4% in some areas. This number indicates that houses in these areas are in high demand, and with the growing economy, the projected need for more housing will continue.

Booming Economy

The Texas economy is seeing massive growth with the Infrastructure Investment and Jobs Act passage. Not only are new federal projects approved for 2022 and beyond, but private companies are moving to the Lonestar State. The Axiom Space Headquarters broke ground last year, and construction on the Hewlett Packard Enterprise global headquarters wrapped up this spring.

What Recent Growth Means for the Construction Industry

Texas’ booming population and economy are good news for the construction industry. With housing sales at an all-time high, the number of existing homes is limited. The demand far outweighs the supply, necessitating the construction of more homes and apartment buildings.

Due to the increase in residents, the state needs construction companies to build and repair infrastructure. You can expect more projects like the Memorial Park Land Bridge in the coming years and other highways, parking lots, and other structures throughout Texas.

While construction companies may place their focus on building residential homes, there is also a growing need for commercial real estate and community expansion projects. Incoming corporations will need office buildings, parking garages, and other facilities. Communities will see this need for libraries, parks, centers, and retail stores, which rely on construction companies to build.

How to Prepare for the Economic Boom in Texas

If you own a construction company in Texas, you can prepare for the booming economy to see growth in your business. To ensure your company is ready for new construction projects, take inventory of your fleet.

Take note of equipment you need to purchase to perform various jobs, such as telehandlers, skid steers, or excavators. If your company already owns the necessary equipment, take stock of pieces you may need to replace. Test all your machines to ensure they are working properly and in good condition.

If you need to get or replace equipment, research your options, and consider upgrading to newer models with updated technological features. You can opt for eco-friendly machines that run on energy rather than diesel fuel and those with built-in safety elements that older models may not have.

Contact Monk JCB to Update Your Fleet

Prepare your construction company for success with Monk JCB. We are a heavy construction equipment retailer based in Southeast Texas. We are authorized to sell professional-quality JCB equipment to ensure that your construction business has the necessary equipment to build new homes and businesses.

Population Boom in Texas Means More Construction

Population Growth in Texas

What Recent Growth Means for the Construction Industry

How to Prepare for the Economic Boom in Texas

Contact Monk JCB to Update Your Fleet

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