1.3 Investments

In 2005-2010, the volume of investments in the construction industry of the republic amounted to 1 billion US dollars. The bulk of the funds has been used on the expansion projects of the production of ceramic tiles, cement, granite macadam. Taking into account the construction of housing, the Belarusian market of building materials remains one of the most active.

The Decree of the President “On stimulating the creation and development in the Republic of Belarus of enterprises based on new and high technologies” supports the investment climate in the construction sphere. It provides an exemption for five years from taxes and customs duties on goods and services produced with the use of new high technologies. In the future, income tax rates and value added tax on these products will be reduced. These products are exempt from export or customs duties during the payback period.

Examples of investment projects in the Belarusian construction sphere:

1. increase of the capacity of two cement plants by 3.6 million tons of cement per year — ”Krasnoselskstroymaterialy” (Vaūkavysk district, Hrodna region) and “Belarusian Cement Plant” (Kasciukovičy, Mahileū region),

2. new capacity for the production of granite macadam – “Granit” (Mikaševičy, Brest region),

3. doubling of the capacity to produce float glass at the enterprise “Gomelsteklo” up to 34 million square meters per year,

4. new lines at enterprises producing dry building mixes: “Henkel Bautechnic” and “Taifun” (Polish Atlas Group).

At the moment negotiations for the participation of the company CRH (Ireland) in the project of production in Belarus of lime using the dry method, as well as the organization of the enterprise for the manufacture of products made of cement and lime with the use of various additives on the basis of “Krasnoselskstroymaterialy” are underway [10].

2 The united states of america construction industry

2.1 Key statistics about residential and nonresidential building

The United States construction industry is viewed as a key indicator of the strength of the American economy, consumer confidence and unemployment trends. As the unemployment rate declines, investment in both residential and commercial U.S. construction tends to increase, signaling improved consumer confidence and the spending that accompanies that confidence. This spending pumps money into the economy and creates demand for consumer goods and services, which eventually leads to investment in capacity increases in the commercial sector, such as manufacturing facilities, office space and retail establishments. We are now seven years removed from the start of The Great Recession in 2008, and although we have yet to see sustained momentum in gross domestic product (GDP) growth, which has ranged between +0.6 and +4.3 percent for four straight quarters through June 2015, the unemployment rate reached a seven-year low of 5.1 percent in August 2015 (remained unchanged for September 2015). This gradual economic recovery has provided the residential construction industry with +9 percent growth in 2015 and an expected growth of +8 to 9 percent in 2016. Nonresidential construction grew +7.1 percent through H1 2015, but is expected to only grow +5 percent for the full year, as contraction in power-related, water supply and public safety projects continue.

The U.S. Census Bureau reports that there are 10 U.S. cities with 1 million or more residents. California and Texas alone contribute three cities each: Los Angeles, San Diego and San Jose for California and Houston, San Antonio and Dallas for Texas. These population estimates are based on the year-ended July 1, 2014, with results generally published about one year later. With the exception of New York City, Texas led the category with its increase in housing units. Texas cities gained the most new units (+141,625), followed by California (+77,510), Florida (+67,208) and North Carolina (+39,855). However, given the nearly one-year information lag, additional factors are needed to accurately evaluate current and near-term trends. Construction job growth is published monthly by each U.S. state. Florida's figures provide a good example of the nationwide trend of strong, recent employment gains that have begun to slow dramatically this year. Looking back at June 2014, Florida added 2,260 jobs to support the 67,000 new housing units it added in the 2014 fiscal year. However, June 2015 saw a considerable slowdown in those job numbers, with Florida adding a meager 100 jobs.