Fastest-Growing MSAs for Contractor Potential See Double-Digit Growth

As the construction market improves in this post-pandemic world, contractor employment in some Metropolitan Statistical Areas (MSAs) are growing at some impressive rates.

Some MSAs are cruising along at double or even triple the three-month average for the national growth for total construction employment which was +2.8% year-to-date through September over Sept. 2020. Electrical contractor employment is up +4.4% year-to-date rate through August. Four MSAs are enjoying an increase in estimated electrical contractor employment of more than 1,000 workers: Boston-Cambridge-Nashua, MA-NH (+1,365 to 16,844); Seattle-Tacoma-Bellevue, WA (+1,222 to 17,728); Sacramento-Roseville-Arden-Arcade, CA (+1,179 to 10,387); and Seattle-Bellevue-Everett, WA (+1,092 to 14,309). These increases translate into real dollar potential, because every increase of a thousand electrical contractor employees translates to $65.6 million in sales potential, according to Electrical Marketing’s estimates.

On a percentage basis, Beaumont-Port Arthur, TX (+20.7%); Albuquerque, NM (+14.2%); Sacramento-Roseville-Arden-Arcade, CA (+12.8%); Pittsburgh, PA (+11.7); and Indianapolis-Carmel-Anderson, IN (+10.5%) all posted double-digit growth.

The MSAs on the chart below represent an even mix between the some of the nation’s largest markets for electrical market potential, which represent $1 billion in sales, mid-size markets from $500 million up to $1 billion and smaller markets with less than $500 million in sales. MSAs in the Chicago, Phoenix, Seattle, Boston and Philadelphia are in the billion-dollar club, while MSAs representing Salt Lake City, Raleigh, Cleveland, Albuquerque, and Beaumont-Port Arthur are standing tallest amongst the smallest markets.

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