Residential Construction Leading Economy Despite Shutdown
October 1, 2020
The September forecast submitted by the Washington State Economic and Revenue Forecast Council reports residential construction activity continues to rise and surpass levels compared to 2019, despite the mandatory shutdown through April.
When our state shut down to stop the spread, BIAW worked tirelessly to safely and quickly get us back to work and restart Washington’s economy. Here are just a few things BIAW did to assist you during the pandemic:
- Offered several webinars to help members implement required jobsite safety plans and protocols
- Championed tax relief for small businesses, including a deferral for B&O and property taxes
- Provided up-to-the-minute jobsite safety plans, templates, and forms
- Successfully advocated the State Building Code Council to delay the start of the 2018 Building Codes
- Provided 24/7 support to troubleshoot questions and concerns on stalled projects
- Identified reliable providers of PPE Resources
After a month of hard work, the home building industry got back to work five weeks earlier than other industries.
Restarting construction significantly helped the state’s economy without putting people at risk. When construction got back to work, the ripple effects were seen immediately. As noted by the Economic and Revenue Forecast Council, construction helped reduce the unemployment rate, housing permits were higher than anticipated, and the real estate market rebounded much stronger than expected.
Residential construction supply was below demand before the pandemic. Washingtonians continue to need homes, and when the Legislature returns, BIAW will continue to focus on encouraging more housing by reducing unnecessary and expensive regulatory costs. It is crucial that other Washington businesses get back to work as well. The future of our economy is reliant on bringing back economic activity in all sectors.
For more information on the September Revenue Forecast, please contacts BIAW Government Affairs Director Jan Himebaugh at janh@biaw.com or (360) 352-7800 ext. 135.