As state and local budgets continue to improve, the educational construction industry will be making a comeback after a decline over the past five years. However, for most states in the union, funding — especially for higher education — will continue to decrease while tuitions increase.
Of concern, higher tuitions and fewer job opportunities have led to growing student debt levels. Students ready to enter college may look to other means of education than traditional brick and mortar schools, or they may skip college altogether. Nevertheless, K-12 and higher education schools need to be maintained and improved to keep them from deteriorating.
Older school buildings need to employ newer technologies, become more efficient, and require upgrades to ensure a clean, safe environment. Security also continues to be a growing concern as the rate of school shootings unfortunately continues to climb. Ultimately, as states begin to rebuild tax receipts, K-12 schools must grow — or once again get ready for those modular classrooms to fill the parking lots of city after city.
Industry Trends
• Significantly less funding from states for K-12 schools
• Enrollment growth of 2.5 million students in the next four years
• New school designs will be more flexible for changing classrooms and greater use of natural light
• Greater attention on reducing energy use and employing green building technologies
• Renovation and additions to current school buildings will continue to grow in comparison to new school projects
• Greater focus on school safety
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