State construction spending expected to drop 18 percent

ANCHORAGE, Alaska (AP) – A newly released report from the University of Alaska projects a significant drop in state spending this year on the construction industry.

The annual report from the

university’s Institute of Social and Economic Research presented to the Associated General Contractors of Alaska and the Construction Industry Progress Fund says construction

spending in 2016 is expected to drop 18 percent from last year to $7.3

billion, The Alaska Dispatch News reported.

The report also shows that oil and gas construction spending, which hit a record-high last year at $4.2 billion, could...