The rosiest numbers came from the commercial and industrial real estate sectors, which say they will build to the tune of $2.2 billion for that period. Last year's guesstimate was $1.7 billion. The utility companies, meanwhile, upped their forecast from last year's $1.5 billion all the way to $2.7 billion.
The pharmaceutical business in New Jersey also says it's in a building mode: The new two-year forecast of $2.9 billion at least matches the previous projection, according to the NJAA. And school construction is predicted to hit the $2.8 billion mark through 2005, compared to last year's $2.2 billion forecast. School construction, of course, is currently subject to an aggressive state-sponsored $8.6 billion program to build new facilities and renovate old ones.
The uptick in projected new construction comes on the heels of two years of slipping forecasts.
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