Value of Commercial Construction in Georgia
The value of commercial construction in Georgia continued its decline in 2010 after peaking at $9.7 billion in 2008. In 2009, the value of commercial construction fell more than 30 percent from the previous year. In 2010, the value declined another 23 percent reflecting continued weakness in the commercial construction sector. Georgia had experienced declines in the commercial real estate market during a recession earlier in the decade, but from 2003 through 2008 the value of commercial construction placed in service grew by more than 58 percent before the market collapsed in 2009.
Source: U.S. Census Bureau, 2010 Construction Spending Report