Good news down in LA. Nearly 170,000 construction jobs will be created over the next 10 years.

Robert Carlsen who does the blog Vertically Speaking over at California Construction has a recent post that is great news for the construction industry in the LA area.

Through the Department of Transportation’s Federal Highway Administration’s Transportation Infrastructure Finance and Innovation Act (TIFIA), a loan of $546 million, along with a recent TIGER II grant of $20 million, will go towards the construction of the proposed $1.9-billion, 9-mi Crenshaw/LAX light-rail extension project. Considering how desperately LA needs to expand public transportation,

The construction is part of Mayor Antonio Villaraigosa’s 30/10 plan, which was unveiled earlier this year. The plan is to condense three decades worth of transit projects into 10 years with the help of federal government loans and taxes.

Overall, the plan is supposed to create nearly 170,000 construction jobs over the 10 years.

The federal investment is expected to create 5,000 jobs, according to a study by the Los Angeles Economic Development Corp. The entire Crenshaw/LAX project will create more than 15,000 jobs, according to the mayor’s office.

I also highly advise you reading Carlsen’s blog Vertically Speaking, as it has great California specific construction news.

A reminder about the October 21st construction webinar

We did a post on this last week, but with it happening on October 21st (tomorrow) and construction being one of our focus areas, it seems like a good idea to remind everyone. If you’re in the construction industry, make some time on October 21st, because on that day – at 2pm EST – expert economists from Reed Construction Data (www.reedconstructiondata.com), the Associated General Contractors (AGC) of America (www.agc.org) and the American Institute of Architects (www.aia.org) join forces to host After the Fall: When and Where Construction Will Rebound a webcast focused on key factors affecting the recovery of the construction industry. This is especially important with the industry currently sitting at a 17.2% unemployment rate.

The webcast will follow chief economists Jim Haughey, Ken Simonson and Kermit Baker as they discuss and analyze:

– In which geographic areas has the economy started to improve, and which areas will be next?

– What construction sectors are likely to see the most growth during the next upturn?

– When will the nonresidential building starts pipeline refill and lead to a pickup in jobsite activity?

– Will the November mid-term elections slow or speed the construction recovery?

– What has happened to Federal stimulus dollars and can contractors expect to see more?

Registration is complimentary for all participants; pre-registration is required. Moderators will accept questions during the presentation from the internet audience and the webcast will also be archived for later viewing. Registrants may also receive 1.5 AIA CEU credits for attending this webcast.

To reserve your space at the October 21st webcast, register at: http://www.reedconstructiondata.com/events/2010/10/after-the-fall-when-and-where-construction-will-rebound.

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