Georgia’s construction industry is booming, with Statista predicting revenue to reach $84.3 billion by 2024. Of this figure, $40.1 billion comes from buildings construction, cementing this sector as a pillar of Georgia’s economy. This blog reflects back on this market over 2024 and its impact on the economy.
1. Market Size
Georgia’s construction market is strong, fueled by both private and public investments. The AGG announced that in 2023 private nonresidential construction spending reached $28 billion, while state and local government spending added another $12 billion. Collectively, these investments drive growth across all residential, commercial, and infrastructure channels. And as a whole, construction remains a key player to the state’s economy, with it contributing $45 billion (5.2%) of the total $878 billion GDP.
2. Employment Trends
In August 2024, construction employment in Georgia reached 220,900 jobs, according to the AGG, showing remarkable resilience from the sector. This figure showed no change from August 2023 but represents a 6% increase (12,900 jobs) compared to pre-pandemic levels in February 2020.
The pandemic initially disrupted construction activity, completely halting activity in some sectors, such as aviation and commercial office spaces. These disruptions were driven by travel restrictions and the shift to remote work. However, the current employment levels highlight how Georgia’s construction industry has bounced back. Jake Kooner, Head of Southeast Buildings at MKH Search noted “The pandemic reshaped demand, with sectors like warehousing and healthcare thriving, while commercial office and retail struggled. Success now depends on strategic foresight as we enter 2025.”
The AGG also reported that the state saw healthy growth in the number of construction establishments, defined as fixed business locations, 26,600 companies operating in Q1 2024–compared to 23,500 the previous year. This demonstrates a positive outlook for job creation in the years to come.
3. Top Georgia Contractors
The ENR announced its top contractors of 2024 for Georgia, including both private and public companies. These firms are delivering high-quality results across the state, with Brasfield & Gorrie leading the way, renowned for impressive projects such as topping out the new research laboratory building for Southern Research.
Top 10 Contractors Ranked:
1. Brasfield & Gorrie $2,025.41m
2. Evans General Contractors $925m
3. JE Dunn Construction Co. $824.90m
4. Holder Construction $801.00m
5. Choate Construction Co. $722.28m
6. Gray $679.59m
7. Carroll Daniel Construction Co. $592.96m
8. The Conlan Co. $590.91m
9. Turner Construction Co. $527.87m
10. HITT Contracting $352.76m
Overall, with the state’s strong economy, rising workforce, and varied projects in the pipeline, Georgia’s construction market is positioned well for continued growth as we move into 2025.
To see the full charts and infographics visualized for this data, as well as discovering insights into salaries, market data, and industry trends, download the Georgia Buildings 2025 Salary & Talent Insights Guide.
LinkedIn
Facebook