In 2008 College and University Construction Spending Grew by $5.1B

It's quite strange to look at last year's figures and know beyond any shadow of a doubt that the trend line will dramatically change in 2009-2010. Or will it?

"Spending on construction by the nation's education institutions increased in 2008 . . . . One of the reasons for the increase in spending was the fact that the majority of the construction projects were started prior to the escalation of the economic crisis and were locked in to higher prices for materials and labor, among other things. . . . Colleges and universities spent $17.8 billion on construction in 2008, up from $12.7 billion the year before. Expenditures grew 35 percent for new construction and 48 percent for additions and modernizations."

Read the full article, from American School and University magazine here:
http://asumag.com/Construction/planning/education-construction-report-200905/