Economy

Q&A

Messer Construction avoids layoffs, prepares for future challenges

Although the Cincinnati-based firm has seen very few projects canceled, company leaders are preparing for a decline in backlog, increased competition and a potential second wave of COVID-19.

By Jenn Goodman • June 04, 2020

Q&A

Gilbane exec: COVID-19 will lead to lower material prices

The coronavirus' impact on the supply chain has been "less than expected," Joe Piro, vice president of supply chain for Gilbane Building Co., told Construction Dive.

By Zachary Phillips • June 02, 2020

What new PPP loan guidance means for contractors

The clarifications are intended to make the Paycheck Protection Program more flexible for construction and other businesses while Congress works to expand some of the program's parameters.  

By Kim Slowey • June 02, 2020

Q&A

Construction industry is like 'a rocket about to take off'

The CEO of one of the country's top electrical subcontracting firms sees U.S. construction slowing, but only temporarily.

By Jenn Goodman • May 28, 2020

Coronavirus has affected construction the most in these 10 states

More than any others, these states are dealing with historic levels of construction unemployment, a decline in jobsite activity and government shutdowns.

By Jenn Goodman • May 27, 2020

Mechanics liens up 40% as COVID-19 pandemic disrupts industry

The increase in liens filed from January through March indicates that contractors and suppliers took action to protect their payments as projects began to shut down in response to the novel coronavirus.

By Kim Slowey • May 21, 2020

Q&A

How a Philadelphia contractor is adapting to slower pace of work amid pandemic

Managers at LOTT Restaurant Construction have refined timelines, employed virtual walkthroughs and researched practices from hospital construction to help the firm and clients evolve in a changing business environment.

By Jenn Goodman • May 19, 2020

Contractors challenged by lack of labor, jobsite tension and delays

Even as projects reopen, enhanced unemployment benefits and health fears are keeping construction workers on the sidelines, said experts during a recent AGC webinar.

By Jenn Goodman • May 19, 2020

Deep Dive

How construction firms can prepare for a potential second wave of COVID-19

Although work is restarting in most jurisdictions, contractors can't let their guard down regarding coronavirus precautions for the future.

By Kim Slowey • May 18, 2020

California transit, road work to continue despite $54B state budget deficit

Gov. Gavin Newom's revised budget instructs the state's DOT to accelerate projects and improve roads as a way to restart California’s economy. 

By Jenn Goodman • May 15, 2020

What contractors need to know about the Paycheck Protection Program

Attorneys say the big takeaway for construction firms that use PPP loans is to document everything — from the decisions that led to their applications to how they used the proceeds.

By Kim Slowey • May 13, 2020

Backlog, the industry's 'protective shield' continues to decline in every category, region

Some owners are delaying, canceling or rebidding projects in what is perceived to be an emerging buyer's market, said ABC Chief Economist Anirban Basu.

By Jenn Goodman • May 12, 2020

Construction loses record-breaking 975K jobs in April amid pandemic

The March-to-April 2020 drop, representing 13% of the industry's workforce, is its largest ever, according to Associated General Contractors.

By Kim Slowey • May 11, 2020

Report: Q1 hotel construction pipeline strong despite pandemic

Hotel projects under construction in the first quarter were at an all-time high, but hotel owners are extending their opening and construction start dates by four to six months.

By Kim Slowey • May 05, 2020

Column

Modular Monitor: Offsite offers unique answers to healthcare systems in a crisis, Part 2

A month after the niche leapt to the occasion to address immediate, mid- and long-term needs, we have a snapshot of its successes and shortcomings, and a revised look at the future.

By Joe Beeton • May 04, 2020

Deep Dive

The new normal: 8 ways the coronavirus crisis is changing construction

U.S. jobsites are reopening but construction will not look the same as before the COVID-19 outbreak. Are you ready for the paradigm shift?

By Jenn Goodman • April 30, 2020

Construction materials manufacturer Continental takes heat over $5.5M PPP loan

The 445-employee Continental reported more than $111 million in revenue last year, and some have pointed to the owners' alleged relationship with President Trump as a reason the company was able to secure so much in short order.

By Kim Slowey • April 28, 2020

Contractor confidence plummets to record low amid crisis

In the latest Construction Confidence Index from Associated Builders and Contractors, firms reported historic declines in expectations for sales, profit margins and staffing levels.

By Jenn Goodman • April 24, 2020

Architectural billings continue historic decline

The record drop in demand for design services and new project inquiries reflects the dramatic deceleration of the U.S. economy since the COVID-19 pandemic began.

By Jenn Goodman • UPDATED: May 20, 2020 at 10:14 a.m.

Cash and the coronavirus: 4 ways contractors can collect and borrow

The ability to maximize cash during and after the pandemic is key to a contractor's survival, financial experts told Construction Dive.

By Kim Slowey • April 22, 2020

In coronavirus crisis, US construction firms begin turning to layoffs, furloughs

After years of not having enough labor, more construction employers are going to start having to turn job seekers away on a large scale, says Associated Builders and Contractors' chief economist.

By Jenn Goodman • UPDATED: April 14, 2020 at 10:44 a.m.

Shutdown-impacted businesses taking PPP loans may risk losing CARES Act tax benefits

Until rules are out, it's not clear paying expenses with stimulus loan funds will help your business come tax time.

By Robert Freedman • April 07, 2020

AECOM cuts executive and board pay by 20%, CEO Burke remains for now

The company's reported merger talks with Canada-based WSP have also likely stalled due to the coronavirus crisis.

By Jenn Goodman • April 06, 2020

Katerra CEO's salary cut to $0 amid layoffs, operation shutdowns

Coronavirus-related stay-at-home orders have forced a business slowdown that necessitates furloughs and layoffs impacting 3% of its staff and significant pay cuts for "higher-paid employees" at the firm, CEO Michael Marks announced.

By Joe Beeton • April 03, 2020

Analysts predict a temporary coronavirus-related halt to commercial lending

Large transactions will be challenging to consummate now, but the outbreak's impact on U.S. commercial lending will be more like that of 9/11 than the Great Recession, a RCLCO Real Estate Advisors​ official told Construction Dive.

By Jenn Goodman • April 03, 2020