Whenever a presidential election occurs, various industries anxiously wait to see the results and how they will affect their businesses. During a candidate’s campaign, it’s difficult to know exactly what their plans are for many industries, because they do not often have comprehensive plans. The construction industry often relies on the will of the federal government to determine whether they’ll succeed or stagnate at their current level. With the support of the federal government, construction companies have more chances to build and more job opportunities. Luckily, as of now, many believe President Trump’s administration will lead to improvements for those in the construction industry.
Many construction companies initially avoided planning large projects or making concrete future plans due to the intense uncertainty surrounding the election in the fall. It was unclear which candidate would win and what regulations might be imposed on the industry, particularly from a Democratic administration. There was also plenty of economic uncertainty when the DOW plunged as the election results came in, but that has turned around, with it now closing at record highs since the results of the election were announced and the economy has stabilized.
Wants to boost American jobs
President Trump has been incredibly vocal about his support for increasing the amount of jobs available to American workers. We’ve already seen some companies stop sending jobs to other countries, and it’s likely more businesses will follow suit. The administration has also expressed a desire to use domestic companies, which likely means more opportunities for private businesses to take on jobs for federal projects.
Looks to improve infrastructure
One of the ways President Trump can increase jobs for the construction sector is through his desire to improve infrastructure in the United States. In his acceptance speech, he stated he wants to construct more, ““highways, bridges, tunnels, airports, schools, hospitals”. These projects will inevitably lead to domestic construction companies receiving jobs throughout the country.
Plans on utilizing domestic energy
A Trump presidency promises support for the domestic fossil fuel industry, as he has officially greenlighted pipelines and wishes to improve the gathering and transportation of domestic energies. Building pipelines and other ways to transport fuels will lead to many opportunities for the construction industry.
Has connections to construction
President Trump understands the importance of the construction industry; as a big-name in real estate, he has to rely on construction to build his hotels and other projects. It seems likely that he’ll be a huge supporter of real estate, which will help out the construction industry as building homes and other structures increases throughout the next few years.