A city skyline that is speckled with the silhouettes of cranes has long been thought to be an indication of a strong and growing economy.
The basic theory that connects cranes to economic growth is that they are a sign of job growth; firstly, in the construction/infrastructure sector as many different tradesmen are employed to build the buildings, and secondly if the buildings are for commercial, health or education purposes then they will require employees to fill them. But what if the buildings are residential?
This article from the Courier Mail stipulates that while there has been an increase in the crane count for many states in the past 12 months, it has predominantly been in the residential sector. In Queensland, 91 of the 104 cranes are working on residential sites, building apartment towers in and around the CBD.
We believe that while commercial projects do create new jobs, investment in residential infrastructure is also a strong sign of economic growth – it indicates that we are experiencing a growth in population, and that would only occur if there were jobs and income available to accommodate the growth.
Cranes help drive the Economy in a multitude of ways:
The count of 104 cranes (that is taken from the biannual Levett Bucknall Crane Index report) only includes tower cranes that are being used in infrastructure projects. There are a huge variety of cranes that are used for a host of different applications in other economy-driving industries. Some of these include:
- They play a huge role in the shipping and transport industry, loading and unloading imports and exports.
- Cranes also play an important role in minding industries.
- They are used to maintain industries and attend emergencies.
While we agree to some extent that no cranes on the skyline can be an indication of a troubled economy, we don’t think that it provides a complete picture – there are so many other applications for cranes that effect our economy. So whether your next project is in the infrastructure, mining, transport or trade industries, investing in a crane will always make good business sense. If you’re looking to buy or sell a crane, give us a call on (07) 3180 2870 today.