Construction Costs

Construction Costs

Construction Costs in the U.S.

Over the years, North Carolina has earned the reputation as a state with lower construction costs due to an abundance of locally produced building materials, a productive non-union workforce, comparatively low-cost land, a mild climate, and the availability of quality-oriented open-shop contractors. The table below was compiled by comparing the construction cost of buildings in nearly 600 communities throughout the United States.

Hawaii	1.28		Missouri	.96
Alaska	1.25		Oregon	.96
New Jersey	1.15		Tennessee	.96
D.C.	1.14		Texas	.96
Massachusetts	1.14		Utah	.96
Connecticut	1.13		Kentucky	.95
New York	1.11		Montana	.95
California	1.09		North Carolina	.95
Rhode Island	1.08		South Carolina	.95
Illinois	1.06		Vermont	.95
Louisiana	1.04		West Virginia	.95
Maryland	1.04		Alabama	.94
Delaware	1.03		Arizona	.94
Nevada	1.02		Florida	.94
Washington	1.02		Georgia	.94
Michigan	1.01		Virginia	.94
Minnesota	1.01		Iowa	.93
Wisconsin	1.01		Kansas	.93
Colorado	1.00		Idaho	.92
New Hampshire	1.00		Maine	.92
North Dakota	1.00		Arkansas	.91
United States	1.00		Oklahoma	.91
Ohio	.99		South Dakota	.91
Pennsylvania	.99		Mississippi	.90
Indiana	.98		New Mexico	.90
Wyoming	.98		Nebraska	.89

Source:  2012 National Building Cost Manual, 36th Edition.

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Construction Costs in North Carolina

Asheville	.92		Greenville	.93
Charlotte	1.02		Hickory	.90
Durham	1.02		Kinston	.88
Elizabeth City	.93		Raleigh	1.01
Fayetteville	.92		Rocky Mount	.93
Goldsboro	.98		Wilmington	.98
Greensboro	.97		Winston-Salem	.95

Source:  2012 National Building Cost Manual, 36th Edition.

Business can expect even a better building for the dollar in the Pitt County/Greenville area compared with other major population centers across the state of North Carolina. These costs differentials result from many factors, including:

1. Comparatively lower cost land – ranging from $5,000 per acre for a rural site to $35,000 per acre for developed industrial property and $50,000 to $100,000 per acre for office/institutional property;

2. Minimal site preparation costs – due to the area’s slight topographic relief and well drained soils, most sites require only minimal grading and drainage;

3. Availability of building materials – crushed stone, brick, structural steel, lumber, etc. can be found within a 75 mile radius;

4. A mild climate – allows year-round construction activity with very few days being lost due to inclement weather (rain is more often a delaying factor than freezing temperatures in pouring foundations and well-drained soils make it possible to re-enter a job site quickly, even after heavy rains);

5. Competition among several quality contractors – several excellent general contractors and specialized subcontractors having extensive office, commercial, and industrial experience are located within the region.

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