NAICS 23

Construction in Panama City-Panama City Beach, FL

Metro Market Score 38.1 (Moderate), ranked #88 of 342 metros. 1,082 establishments, 7,494 jobs.

Metro Market Assessment

Metro Market Score 38.1
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Moderate

ⓘ Lower is better. Relative to national construction average.

🏭Industry Hub📈Rapid Growth

Panama City-Panama City Beach is a specialized hub for construction, with a location quotient of 1.61 and industry concentration in the upper half. Higher-than-average firm density means more competition for talent and customers, but also a deeper local supply chain and client pool.

Industry Concentration
94.4
LQ: 1.61
Rank #323 of 342 metros
Wage Competitiveness
9.7
$59,362 avg wage
Growth Trend
↑ 80.1
Employment growth index
Rank #69 of 342 metros
Wage Pressure
30.8
YoY wage change index

1,082 Construction Firms in Panama City-Panama City Beach

1,082
Establishments
+4.4% YoY
7,494
Total Employment
+6.0% YoY
$59,362
Average Annual Wage
+3.2% YoY
1.61
Location Quotient
Above national avg

Panama City-Panama City Beach vs Florida Statewide

How this metro's construction market compares to Florida overall. The state ranks #42/51 for entry risk.

Measure Panama City-Panama City Beach FL Statewide
Overall Score 38.1 Moderate 54.5 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #88 of 342 metros #42 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Panama City-Panama City Beach

Other Services 35.0 Professional, Scientific, and Technical Services 35.4 Information 42.1 Retail Trade 50.1 Finance and Insurance 53.2 Real Estate and Rental and Leasing 65.4

Construction in Other Florida Metros

Gainesville 18.0 #7/342 Tallahassee 27.6 #27/342 Ocala 36.4 #72/342 Deltona-Daytona Beach-Ormond Beach 42.3 #122/342 Port St. Lucie 42.5 #123/342 Lakeland-Winter Haven 43.2 #131/342 Sebastian-Vero Beach-West Vero Corridor 43.9 #137/342 Crestview-Fort Walton Beach-Destin 44.9 #145/342 Pensacola-Ferry Pass-Brent 45.4 #150/342 Miami-Fort Lauderdale-West Palm Beach 46.4 #160/342

+ 11 more metros. View all in Florida →

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Panama City-Panama City Beach's construction sector, the industry concentration component (94.4) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.