Construction is a key contributor to Florida’s economy, representing about 5.7 percent of state GDP in 2024. Let’s focus on the more important facts the Florida TaxWatch report talks about.
The following graph shows the PPI (Producer Price Index) for construction materials nationally. This indicator show the average change, over time, in selling prices paid by producers.
Research shows that the hike in national prices of construction materials is a result of inflation, uncertainty in trade agreements, and supply chain disruptions.
Florida’s economy is growing in terms of population and urban development. As of May 2025, the construction industry is expected to grow seven percent in 2025, with a focus on mixed-use and infrastructure developments.
The next Table shows the percentage change in material prices for the southeast region of the U.S.
Finally, this table shows the percentage change in the price of construction materials over the past year (from June 2024 to June 2025).
Knowing that the cost of materials are continuously going up, hiring a local General Contractor for your home renovation project can represent a BIG saving in materials. Give us call, we’re ready to start your project right away.
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Image and information from Florida Tax Watch