Silicon Valley Sees Large Boost In Construction
SAN JOSE (KCBS) – The new year could bring some much needed relief to the hard-hit construction sector in Silicon Valley, with a number of major projects expected to break ground in the next few months. One of those projects is the BART-to-San Jose extension project.
"The BART project is almost a billion dollar investment, so it will stimulate growth around the stations, in housing and retail and commercial development," said Neil Struthers, CEO of the Santa Clara and San Benito Counties Building and Construction Trade Council. "You're starting to see Facebook and Google and Apple all do the same thing as well. So, one investment leads to another. An A's ballpark in downtown San Jose, or a soccer stadium would do that too, and all of those things are on the horizon."
However, Struthers said that the recovery could be tripped up by the political gamesmanship in Washington.
KCBS' Mike Colgan Reports:
"The state and federal budget could be problematic in ways that we don't quite anticipate yet, and the European debt crisis could really scare the banks again," he said.
Struthers said that there has been almost no private sector building over the last three years.
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