The hidden financial engine behind America’s building boom
Source: Fortune ·
America’s building boom depends on more than concrete and capital. Reinsurance helps make the risks manageable.
From the source
Across the country, massive new factories, semiconductor plants, and football-field-sized AI data centers are reshaping America’s landscape. More than 1,500 data centers are under development nationwide. Construction spending has surged to nearly two-and-a-half times what it was five years ago, and this year the United States is on pace to spend roughly $2.2 trillion—almost the GDP of Canada—on construction. Ironically, America is building more at the exact moment the world is becoming far more dangerous to build in. In each of the past six years, natural catastrophes such as wildfires, hurricanes, and floods have caused at least $100 billion in insured losses globally, and the U.S. often bears the brunt. And yet the concrete keeps pouring. Why? Because behind nearly every major project in America is a resilient financial infrastructure that helps manage risk and sustain investment. Yet because this financial infrastructure operates largely behind the scenes, its contributions to…