Hello! If you're an engineer and you're wondering what the best job market in North America is---then you definitely want to research the investment landscape...Luckily, I've done some basic research and compiled what the top results of Google have to say on the topic and sorted out what I think are the most useful data. I hope you find it helpful. Data below!
ING Financial Analysis says
- That the US construction sector has outperformed Canada and Mexico over the past 18 months,
- As a proportion of overall economic activity, Construction has remained steady in the US at 4.1% and in Canada at 7.4%
- US Investment, “The Infrastructure Investment and Jobs Act totals around $1.2tr of spending for the next five years. It contains substantial funding for projects that range from public transport to the power system, and from climate resiliency to emerging technologies that can accelerate the country’s energy transition.”
- Canadian Investment, ”Infrastructure spending is also a key plank of the Canadian government’s growth strategy, having promised more than C$180bn of funding over the next 12 years. Projects include public transport links, and improving broadband and energy infrastructure.”
ING’s Analysis sees Canada as the winner in terms of overall Construction Growth:
“The fundamentals underpinning the Canadian residential market appear stronger given the employment and population growth outlook and the impact of rising mortgage rates is less pronounced than in the US. At the same time, the strong macro outlook and heavy commodity focus make Canada our top pick for overall economic growth, and on top of this, the government infrastructure plan provides further support for the sector. We expect construction growth of 7.5% in real terms in 2022 followed by 4% in 2023 and 3% in 2024.”
Article written on May 3 2022 at Think.Ing:
here.
According to the Canadian Construction Association:
- 70% of the industry is small to medium sized firms,
- Collectively, construction employs 1.4 million Canadians,
- The Construction industry contributes about 7.5% of Gross Domestic Product,
Article written at CCA:
here.
According to Yahoo Finance:
- The Canadian Government is expected to heavily invest in Transit. For example, one of the largest infrastructure projects planned in the country will be the GO Expansion Project. The GO train is the train that connects the outer suburbs of Toronto to the City Centre. The Government expects to invest a total of US $15.705 billion. Completion date of the project is expected to be 2025,
- Other Transit Infrastructure projects will be:
- The Ontario Line - US$10.9 billion,
- Réseau Express Metropolitan - US$6.32 billion,
- Hurontario LRT - US $5.632 billion,
- Beside major transit projects:
- Darlington Nuclear Generating Station Refurbishment: US$12.8 billion,
- Site C Clean Energy Project: US$ 10.7 billion,
Article published on February 16 2022 at Yahoo Finance:
here.
According to Berkshire Hathaway:
- The Canadian Construction industry is set to grow by 2.2% from 2023 to 2026,
- The Canadian Government expects this growth to come from it’s 3 year Growth Plan—announced in October 2020—with a CAD $7.5 billion investment into clean energy, broadband, building retrofitting, agriculture, irrigation, and electric vehicle infrastructure projects,
- The 3 year Growth Plan is a part of a larger investment strategy called the
Investing in Canada Plan. This Project was launched in 2016 with the goal to invest CAD $180 billion over a 12 year period. As of February 2022 - over 78,000 projects worth CAD $118.5 billion have been approved.
Published May 20 2022 at Business Wire:
here.
