08 Jul CEO Michael Russell Discusses the Status and Future of Construction in Northern Nevada
Our CEO Michael Russell was a valued member of the expert panel this morning at the Northern Nevada Business Weekly’s Breakfast & Business on construction and development. This was the first NNBW breakfast program since the start of the pandemic, and the topic matters to kick off the programming were ever-relevant to the growth we’ve been seeing in Northern Nevada. Michael and the other panelists discussed how:
– The construction industry is rebounding from the pandemic and what the outlook looks like for summer 2021 and beyond,
– Supply chain issues, labor shortages and increased pricing on lumber and other materials are impacting timelines for commercial and residential projects,
– Northern Nevada’s booming population growth — both pre- and post-pandemic — in part due to the continuing California exodus is putting pressure on developers; and
– The region’s red-hot housing market is influencing both the region’s economic profile and builders’ ability to pump out affordable homes.
Michael spoke to attendees on the challenges our industry has seen in terms of worker shortages, rise of housing and labor costs, and consequent lengthened project turnaround times. Despite these challenges, Michael reiterated his optimism for our region, including beyond Reno-Sparks: the demand is there, as more companies stake their claim for industrial space, and therefore companies like United Construction have the opportunity to step up and continue meeting that demand.
Thank you to Michael and the rest of the panel for sharing your expertise with the audience!