It’s time to crunch the numbers: School districts spent more than $14 billion on 2014 construction projects.
School is officially in session across the United States, and with it comes new and renovated construction projects. School districts in the United States spent more than $14 billion on construction projects completed during the 2014 calendar year. Totaling $14,123,865,000, these numbers fall close in line with the previous year’s total. Of that, almost $7.8 billion of that was spent on new schools, accounting for 55 percent of the construction dollars. School Planning & Management breaks down the factors behind the $7.8 billion figure:
The balance was split between additions to existing buildings (accounting for $3.2 billion) and the retrofitting and modernization of existing structures that accounted for $3.14 billion. The difference of spending for new buildings and existing ones was very close to the pattern of the previous year.
Looked at in terms of ongoing educational construction, school districts in the United States appear to be involved in almost $40 billion worth of construction activity right now. For further insight, view our past post on the emergence of new generation learning facilities in the face of budget concerns.
Read all the numbers at School Planning & Management.