The percentage of school respondents who report that they have plans for construction has been falling over the past several years,
from 69.3% in 2020, to 58.3% in 2021, 57.1% in 2022 and 53.5% in the 2023 State of the Industry Report. This compares with 66.3% of non-school respondents in 2023 who had plans for construction over the next several years.
School respondents in 2023 were most likely to be planning renovations. Some 40.4% of school respondents said they would be renovating their existing facilities, up from 30.2% in 2022. Another 22.2% said they are planning additions (down from 33.3%), and 24.2% are planning new construction (down from 30.2%).
School respondents in 2023 were planning to spend an average of $9,575,000 on their construction plans. The highest planned construction budget was $50 million, and the median cost was $2.5 million.
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