Substantial progress in knowledge heart planning drives business momentum
BEDFORD, M.A. – July 9, 2024 — The Dodge Momentum Index (DMI), issued by Dodge Development Community, elevated by 10.4% in June to 198.6 (2000=100) from the revised Could studying of 179.9. Over the month, business planning elevated 14.5% and institutional planning ticked up 0.2%.
“Information facilities continued to dominate planning initiatives in June – fueling one other robust month for business planning,” said Sarah Martin, affiliate director of forecasting at Dodge Development Community. “Extra momentum in planning, whereas not as robust as knowledge facilities, was seen throughout most segments and signifies confidence in 2025 market circumstances. The DMI is up 43% from June 2019 ranges, signaling robust development spending in 2025.”
Information heart planning continued to be the first driver of business progress in June, alongside reasonable progress in retail, resorts, and warehouse initiatives. On the institutional facet, weaker healthcare planning was offset by an enchancment in schooling exercise. Moreover, a big detention facility entered the queue final month and bolstered public planning as properly.
In June, the DMI was 7% increased than in June of 2023. The business phase was up 25% from year-ago ranges, whereas the institutional phase was down 25% over the identical interval.
A complete of 38 initiatives valued at $100 million or extra entered planning all through June. The most important business initiatives included the $420 million Oaklawn Land Bay A Information Heart in Leesburg, Virginia, and the $400 million PowerHouse Irving Information Heart in Irving, Texas. Probably the most vital institutional initiatives to enter planning have been the $305 million Horizon Juvenile Heart Annex in Woodstock, New York, and the $285 million analysis and growth buildings in San Diego, California.
The DMI is a month-to-month measure of the worth of nonresidential constructing initiatives going into planning, proven to steer development spending for nonresidential buildings by a full yr.
