.Arizona shows big jump in 2011 construction

Arizona ranked fifth among U.S. states for construction spending on commercial real-estate projects in 2011, a huge advance from its No. 14 position the previous year, according to a report issued this week. The report, from the Virginia-based real-estate development association NAIOP, said companies spent $4.2 billion on Arizona commercial-development projects in 2011, supporting more than 74,000 jobs. The huge jump in Arizona construction spending was due in large part to the ongoing construction of Intel Corp.'s $5 billion Fab 42 project in Chandler, which began in summer 2011 and is expected to be completed in 2013. The facility, touted as the largest microchip-fabrication facility in the world, is expected to employ about 1,000 full-time workers upon completion. The biggest spender in the U.S. on commercial construction in 2011 was Texas, with $7.9 billion spent on commercial projects supporting about 150,000 jobs, the NAIOP report said.

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