Construction projects cost $1.4 trillion annually and are the subject of a new book by a Harvard professor.
The book, entitled Construction: The Rise and Fall of the American Construction Industry, is the first to analyze how construction has evolved since World War II.
“We know from construction history that the value of construction is tied to the number of people that can be hired,” said Andrew C. Leff, a professor of economics at Harvard.
“The more people, the higher the construction cost.”
The book’s title comes from the construction industry’s motto: Build a better life.
“Building a better future for all is one of the core values of our profession,” said Leff.
The author, whose book was published earlier this year, analyzed data on the cost of each construction project, looking at the total cost of the project and the percentage of the total project that is paid for with public funds.
The research found that public-private partnerships (PPP) and government contracts for projects in major cities and metro areas account for a huge chunk of construction costs.
The PPP model is known for its cost-savings.
A government contract that pays a fixed price for every square foot of construction, PPP projects, is one example of this model.
Public-private PPP is often built in communities that have low or no infrastructure.
It is also popular in the developed world, including the U.S. The data Leff used for his research was from a report from the National Construction Council (NCC), a nonprofit trade association that represents construction firms.
The report, “A Modern Construction Industry: The Role of Public and Private Investment,” found that construction is expected to reach $2.8 trillion in 2020.
Construction is expected grow by a whopping $7 trillion over the next five years, according to the NCC.
It is expected that PPP will account for the lion’s share of construction over the same period, and the most expensive projects will take the most up-front investment, Leff said.
This will make construction projects much more attractive for new investors, which could include government agencies and the private sector.
“It’s a good time to be in construction,” said Paul J. Harkness, an economist at the Brookings Institution and a co-author of the report.
“People are very motivated and willing to pay more than a fixed amount.”
While some of the country’s most famous projects are still under construction, such as the World Trade Center’s twin towers, the majority of American construction projects are currently under construction.
The study also found that most of the PPP-funded projects are in the suburbs of major cities, where private contractors are able to charge higher prices.
For example, the price of a typical 1,000-square-foot office space in downtown Boston is $4,400 per square foot, compared with $3,800 in suburban areas, LeFF said.
The median price of one square foot in the metro area of Boston is currently $2,800.
A study by the NSC, released last week, found that private companies are the most likely to build new office buildings in the nation, accounting for 57 percent of all construction projects.
Private contractors accounted for about 60 percent of the construction projects that took place in 2012, the most recent year for which data is available, the study found.
Private-sector firms also spent $1 billion more per square-foot of office space than private-sector government contractors, the NRC study found, noting that these firms are able a more extensive amount of time to build, with a higher proportion of their capital spent on infrastructure, like power plants and roads.
Public companies also spend much more than private firms on infrastructure.
“Public agencies are spending more than $1,000 per square feet of office building,” the NNC study found in its report.
Public agencies spent $6,000 on office space per square meter, while private- sector firms spent $9,000.
In other words, the public sector spends much more on public infrastructure than private companies.
For public agencies, PPPs account for more than 90 percent of their construction spending.
The other five percent of PPP spending comes from state and local governments, which are responsible for a smaller portion of PPPs.
Private-sector PPPs accounted for only 19 percent of total PPPs in 2012.
“In the future, PPPS will become a very important driver of economic growth in the construction sector,” Harkess said.
Construction in the U .
S. has been booming for years.
A study by Bain & Company, a financial consulting firm, found in 2016 that the average cost of construction in the country was $3.3 billion, and that private firms were responsible for 60 percent, with the remaining two percent coming from government contractors.
The U.N. predicts that construction costs will continue to increase, with rising demand in emerging markets, particularly China.
In his research, Leaff