Chicago Schools to Ignite a New Construction Boom
Chicago, IL -- The Chicago Board of Education is looking to approve an $840 million in additional debt for school construction. The board is also looking into refinancing $160 million in old debt.
This surge in construction spending will create a huge surge in Chicago's construction jobs. The schools will be focusing on renovations, energy efficiency, and building more self-sustaining schools.
Chicago isn't the only school district that is taking on major construction plans. Calirfornia is deciding on Proposition 51, which would allow $9 billion in bonds to finance new school construction and repair/replace older schools. The $9 billion would be only one stage of a $22 billion school construction project over 10 years.
Baltimore is in the midst of building two multimillion dollar schools with a $1.1 billion school construction initiative. By 2020, Baltimore will have 28 new or rehabbed school structures.
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