The construction segment in Colorado has been on a path of growth for years, having registered steadily growing figures even during the pandemic. However, the growth is the most visible in the residential construction, commercial construction being in a stagnating phase right now.
The economic difficulties created by the pandemic have not left Colorado untouched – many businesses in the retail, hospitality and service segments have gone out of business and the companies that are still active face serious difficulties. All these hardships have obviously diminished the demand for new commercial construction by diminishing the financial power to invest into such projects, but even so, many of the construction companies in Denver building projects that were started before the pandemic were continued and many are still continuing unhindered.
There are other signs that are cause for optimism when it comes to the direction of development in the commercial construction segment. Colorado is still an attractive environment from all points of view, attracting many businesses from other states and with them, attracting people who relocate to the state permanently. The growth in population creates demand for infrastructure and for the products made available to consumers by the commercial industry. As a result, the currently stagnating commercial construction segment is likely to start growing again soon.