A new report predicts that construction will be the fastest growing sector of Nebraska’s economy through 2018, says Net Nebraska. The study predicts that construction employment in Nebraska will reach a record level this year and continue to grow. The sector is expected to expand by almost 10 percent over 2007 levels. Much of the construction growth will be due to state tax dollars for roads projects.
Meanwhile, the ag sector and machinery manufacturing are expected to weaken in the coming years. After near-record profits in 2013, farm income dropped 39 percent in 2015 due to lower crop prices. Farm income is projected to drop another 8.4 percent this year.
The economic forecast comes courtesy of a study by the University of Nebraska-Lincoln Bureau of Business Research.