US construction industry takes a shine to Trump presidency

Trump has suggested he would boost government construction spending by more than 60%

TRD MIAMI /
Nov.November 10, 2016 03:45 PM

While much of the nation is still trying to understand what a Donald Trump presidency means for the United States, the stock market is giving early signs of how real estate industries are coping.

Stocks related to construction and engineering firms spiked in value on Wednesday, indicating builders around the country are feeling good about the president-elect.

The Wall Street Journal reported that Trump had promised to earmark $1 trillion for select infrastructure projects around the country over 10 years, an expectation that helped drive shares of engineering firm Aecom up 13 percent, as well as its competitor Jacobs Engineering Group by 10 percent.

Material suppliers and machinery manufacturers also saw a surge in stock prices Wednesday, the Journal reported, with shares of Vulcan Materails Co. rising 10 percent and crane builder Manitowoc Go. ballooning 14 percent.

It’s still unclear what specific policies and funding strategies Trump will adopt once in office, but the Journal reported that he’s previously floated a tax credit system to help fund road, bridge and airport work.

He’s also put forward that his infrastructure plan could boost the government’s $1.1 trillion worth of construction spending each year by at least 60 percent.

Outside real estate industries have had much more mixed reactions. In both New York and Los Angeles, brokers and developers expressed either shock or jubilance at the election’s outcome. For Miami, some of real estate’s most prominent figures are expressing optimism — if not outright excitement. [Wall Street Journal]Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Donald Trump and Mar-a-Lago Club (Credit: MANDEL NGAN/AFP via Getty Images, and iStock)

Trump’s Mar-a-Lago furloughs 153 employees

Trump’s Mar-a-Lago furloughs 153 employees
Donald Trump, Vanilla Ice and Briny Breezes (Credit: Getty Images)

Trump Town? Briny Breezes wants to sell for $1B

Trump Town? Briny Breezes wants to sell for $1B
Daily Digest Miami

Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest

Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest
Donald and Melania Trump at the entrance way of Mar-a-Lago (Credit: Getty Images)

With move to Mar-a-Lago, Trump could use Florida real estate law to protect himself from creditors

With move to Mar-a-Lago, Trump could use Florida real estate law to protect himself from creditors
Donald Trump, and Trump National Doral Miami golf resort (Credit: Getty Images and iStock)

Trump disputes report that Doral golf resort has bedbugs

Trump disputes report that Doral golf resort has bedbugs
Daily Digest Miami

RREEF scoops up Hialeah property in largest industrial sale of SoFla this year, filling FEC water slip could cost $232M: Daily digest

RREEF scoops up Hialeah property in largest industrial sale of SoFla this year, filling FEC water slip could cost $232M: Daily digest
Donald Trump at Trump National Doral (Credit: Getty Images)

Former members of Trump Doral may have to wait decades to get their deposits back

Former members of Trump Doral may have to wait decades to get their deposits back
President Donald Trump (Credit: Getty Images, Mar-A-Lago Club)

Trump properties in Palm Beach County could get $1.5M tax bill

Trump properties in Palm Beach County could get $1.5M tax bill
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...