Healthcare Giants 2015: Growth
The Top 40 Healthcare Giants finished 132 million square feet in 2015, about even from the previous year, and they predict working another 167 million next year. They also worked 5,200 total jobs and are looking to do another 5,300 next year. That number has been rising annually since the Giants worked 3,700 in 2011.
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That’s a lot of work, but what kind of work was it? Academic and community hospitals made up 70 percent of all projects. 18 percent were for-profit hospitals, and this breakdown has been mostly steady for the past few years. Some more numbers: 65 percent of jobs followed LEED guidelines; that percentage has been hovering in the 60’s for a few years now. New construction rose a bit this year to 53 percent versus renovation; new construction has been in slow decline since 2010, when it was 60 percent.
88 percent of what the Healthcare Giants do happens in the U.S., and they anticipate next year’s growth to come from that work, particularly in the Northeast and South. Of the small percentage of jobs outside the U.S., the Giants predict growth in South America, the Caribbean, and Europe.
We also asked the Giants what sectors they think will bring the most heat in 2016. Nine out of 10 said outpatient will grow best, and seven out of 10 said hospitals. Two-thirds said mental-health facilities and health/wellness would pay out. Another area of potential growth? Hiring. 2014 was a banner year for employment, with 1,500 design jobs added to the rolls. The Giants hired 600 more in 2015 and expect to on-board another 240 next year. And finally, there are four firms new to our Top 40 Healthcare Giants: Gensler (#15), CO Architects (#37), ICRAVE (#39), and Design Development Company (#40). Welcome aboard!