$10B+ in data center projects. $4.8B in Boston development approved in 2025. Liberty Mutual Surety is headquartered here. The subs building all of it need financing.
New England's data center market is emerging fast. Hyperscalers are looking at nuclear-powered sites, western MA farmland, and former military bases. On top of that, Boston leads nationally in life science construction — 8.7M sq ft of office/lab pipeline. Every project needs MEP subs. Every sub needs financing.
| Project | Value | Location | Status |
|---|---|---|---|
| Servistar Realties Campus | $4 billion | Westfield, MA | Planned — construction early 2026. 120 acres, 10-14 buildings. Courting Microsoft/Google. State tax breaks approved |
| Wiscasset Data Center | $5 billion | Wiscasset, ME | Paused Nov 2025 (selectboard vote). Town-owned parcel |
| NE Edge / Millstone Nuclear | $231M+ local fees | Waterford, CT | Permitting stage. 1.5M sq ft, 300MW behind-the-meter nuclear. 200 permanent jobs |
| LiquidCool / Loring AFB | Undisclosed | Limestone, ME | In development. AI data center, immersion cooling |
| Westminster Tech Center | Undisclosed | Providence, RI | Active. 40,000 sq ft factory conversion |
| GC | Revenue | Key Detail |
|---|---|---|
| Suffolk Construction | $5.5-8B | Managing 4 of 5 largest projects in MA. Wynn ($1.7B), GE HQ |
| Gilbane Building Co. | $6.5B | Providence HQ. 150+ years. 3,000+ employees. 45 offices |
| Turner Construction | $16B+ national | Major NE science/tech/healthcare builder |
| Skanska USA | $7B+ national | Building NE landmarks since 1946. Longwood Medical Area |
| Whiting-Turner | $9B+ national | Science/tech/healthcare top-tier |
| Shawmut Design & Construction | $1.67B | $1B+ in NE alone. BU Warren Towers ($550M) |
| BOND Brothers | $800M+ (record 2024) | Family-owned since 1907. Healthcare, life sciences, energy |
| Consigli Construction | Major regional | 1,500+ workers. Largest employee-owned GC in Northeast |
| Dimeo Construction | ENR Top 100 | Boston, Providence, New Haven. Since 1930 |
| Lee Kennedy Co. | ~$600M | Biotech, healthcare, education, historic restoration |
| Metric | Boston / Massachusetts | National |
|---|---|---|
| Metro Unemployment Rate (Dec 2025, NSA) | 4.5% | 4.4% |
| State Unemployment Rate (Nov 2025, SA) | 4.7% | 4.4% |
| Construction Employment (Jul 2025, SA) | 170,500 | 8.3 million |
| Construction Job Growth YoY (Jul 2024 → Jul 2025) | +400 (+0.2%) | +96,000 (+1.2%) |
| Construction Growth Since Pre-Pandemic (Feb 2020) | +4,200 (+3%) | +9.2% |
| Construction Wage Growth (2021–2024, cumulative) | +22.8% | +21.6% (nominal, 2019–2024) |
| Avg Hourly Earnings — Construction (Apr 2025, NSA) | >$50/hr | $39.30/hr |
| National Construction Wage Growth (Gordian RSMeans, 2025→2026) | +4.6% | |
| Median Annual Pay — All Occupations (2024) | $62,270 | — |
| Median Annual Pay — Electricians (2024) | $82,120 | $61,590 |
| Median Annual Pay — First-Line Supervisors (2024) | $97,480 | — |
| Median Annual Pay — Plumbers/Pipefitters (2024) | $83,260 | — |
| Median Annual Pay — Carpenters (2024) | $71,110 | — |
| Median Annual Pay — Laborers (2024) | $62,430 | — |
| Construction Establishments (2024) | 22,000 | 941,000 |
| Construction GDP Contribution | $31B (3.9% of $798B) | $1.3T (4.5% of $30T) |
| Private Nonresidential Spending (2024) | $12 billion | $766 billion |
| State & Local Construction Spending (2024) | $11 billion | $488 billion |
| Jobs Unfilled After 45 Days | 43% (worst in nation) | 39% |
| Young Workers (<25) Share of Construction Workforce | 9.9% (down from 12.4% in 2005) | — |
| Replacement Ratio (Retirees vs. New Entrants) | 5 retire : 2 enter | — |
| Foreign-Born Share of Construction Workforce | >25% | 25.5% |
| Construction Employment Loss (May 2024 → May 2025) | −4,000 (−2.3%) | — |
| National New Workers Needed (ABC, 2026) | 349,000 (rising to 456,000 in 2027) | |
| Electrician Job Growth Projection (BLS, 2024–2034) | +9% — ~81,000 openings/year nationally | |
Standout: Massachusetts has the nation’s worst construction hiring gap — 43% of jobs unfilled after 45 days vs. 39% nationally. Electricians earn $82,120 (33% above national median). Construction wages exceed $50/hr, 27% above the $39.30 national average. Yet employment grew only 0.2% YoY and only +3% since pre-pandemic, signaling a supply wall, not a demand problem. Boston Globe calls it “a crisis.”
Sources: AGC of America (Sep 4, 2025) • FRED/BLS (Dec 2025) • Mass.gov (Nov 2025) • NAHB Eye on Housing (Apr 2025) • Worcester Business Journal (2025) • Boston Globe (Sep 2025) • Gordian RSMeans (Mar 2026) • ABC (Jan 2026) • HBI Fall 2025 Labor Report • BLS Occupational Outlook Handbook
Five data layers, weighted, composite score. Based on the KC metro proof-of-concept — same model, Boston/NE data inputs.
Boston leads nationally in life science construction. Specialized MEP subs (cleanroom, BSL, process piping) command premium rates and have deep backlogs.
NE Edge's Millstone project is a new model — nuclear-powered data centers. First movers in NE MEP trades will lock multi-year contracts.
New England union density is high. IBEW, UA, SMART Local presence gives us membership data as a labor pool indicator that's harder to get in right-to-work states.
World's largest surety is headquartered here. $286.5M in premiums. They underwrite the very risk SubScore quantifies. Natural buyer and data partner.
| Source | What It Tells You |
|---|---|
| MA Division of Professional Licensure | Contractor licenses, trade certifications, disciplinary actions |
| Boston Permits (BPDA) | Commercial/institutional permit trends, pipeline by neighborhood |
| CT Siting Council Filings | Data center and energy facility approvals/denials |
| Eversource / National Grid Interconnect | Power demand signals for industrial/DC projects |
| BLS Boston-Cambridge-Newton MSA | Construction sector employment, wages, turnover |
| JOLTS Northeast Region | Job openings and quits in construction trades |
| ENR New England Rankings | GC revenue and backlog in NE |
| OSHA Region I Records | Safety violations, incident rates by contractor |
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