Economy
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Can Louisiana handle $32B of industrial construction?
Developers plan on combating a shortage of skilled labor with alternative strategies like modularization and the use of robotic devices.
By Kim Slowey • Aug. 21, 2019 -
What are the construction industry's top economic bellwethers?
From Caterpillar’s earnings to stock prices and architect billings, construction leaders rely on a variety of economic signs and signals to know when a recession is imminent. What are your top indicators?
By Jenn Goodman • Aug. 21, 2019 -
Fluor re-evaluates risk, project selection amid $555M Q2 loss
"We must take a more disciplined approach to risk assessment," CEO Carlos Hernandez said. "We're focusing on profitability and cash generation."
By Joe Beeton • Aug. 07, 2019 -
On $97M quarterly loss, Granite Construction shifts to smaller projects
Disputes on recent multi-billion-dollar projects in the firm's heavy civil sector have caused Granite to re-evaluate its project delivery methods and its roll in P3 contracts and JVs.
By Jenn Goodman • Aug. 03, 2019 -
Plumbing company settles EEOC claims that it assigned only Latino workers to sewer duty
When a worker complained, a supervisor told him to return to the sewer, threatened to replace him and referred to him by a pejorative, the EEOC said.
By Lisa Burden • July 29, 2019 -
Caterpillar had to raise prices in light of tariffs last quarter
The steel and aluminum tariffs imposed in 2018 cost the construction equipment manufacturer an extra $70 million in the second quarter, making it hard to maintain margins.
By Shefali Kapadia • July 26, 2019 -
Construction's hourly wages 10% higher than private sector's
Despite increasing hourly wages 3.2% over the year to an industry average of $30.73 and offering other incentives, construction firms still face challenges attracting jobsite workers.
By Jenn Goodman • July 19, 2019 -
Trump proposes tighter Buy American limits on steel, iron
Under the new rules, material would be prohibited on many federal contracts if even 5% of its value comes from foreign content.
By Kim Slowey • July 18, 2019 -
SponsoredCredentials: why do they matter?
Credentials are a vital piece of our workforce development system and offer a path to a successful and lucrative career.
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Report: 60% of US construction activity concentrated in 10 states
Of the more than 11,200 U.S. projects GlobalData tracks, California by far leads with $524.6 billion in the works, followed by Texas, New York and Florida.
By Kim Slowey • July 10, 2019 -
Construction spending slides in May despite predictions
Recent reports underscore the volatility of the construction business since the Great Recession — or maybe the variations in how different agencies and groups gauge the economics.
By Kim Slowey • July 02, 2019 -
Construction industry confidence makes a comeback in Q2 report
A new study from USG Corp. and the U.S. Chamber of Commerce found two primary drivers of contractor optimism — backlog and confidence in new business — rebounded in the second quarter of 2019.
By Kim Slowey • June 19, 2019 -
Analysts: Infrastructure, modularization, resiliency top industry drivers
While a recession is likely on the horizon, several segments of the construction industry will experience massive growth in the next few years, say experts from McKinsey and Dodge.
By Jenn Goodman • June 11, 2019 -
SponsoredMaking up for the construction labor shortage with technology
Construction has had a complicated relationship with technology, but the shortage of skilled labor has forced the industry to re-evaluate.
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Top construction execs reveal challenges, opportunities
Leaders at AECOM, PCL and STO Building Group discuss labor, tariffs, integrated project delivery and preparing for a potential slowdown.
By Jenn Goodman • May 30, 2019 -
Facebook receives tax incentive to build fifth Altoona, Iowa, data center
The city will waive property taxes in exchange for the tech giant's $400 million investment.
By Jenn Goodman • May 10, 2019 -
FAA projects massive growth in commercial drone use
The administration said the number could triple by 2023, far outpacing the consumer drone market, which it said appears to be slowing down.
By Jason Plautz • May 08, 2019 -
NYC region holds lead in struggling retail construction sector
While the decline of brick-and-mortar shopping caused double-digit decreases in the value of retail work underway in many metros, the city and its suburbs' work increased 4% last year, finds a new report.
By Kathleen Brown • May 06, 2019 -
Construction industry unemployment at record low
The case for an economic downturn over the next 18 months is fading fast, said an ABC economist, citing 103 months of continuous job creation.
By Kathleen Brown • May 06, 2019 -
Jacobs Engineering tops ENR's 2019 design firm rankings
The AEC powerhouse claimed the top spot for the second year running in a field where "technology now is the price of entry."
By Kathleen Brown • May 01, 2019 -
Construction, engineering M&As hit record in 2018: FMI
Companies are focused on growing while the economy remains strong and expanding tech capabilities as a differentiator against tough competition.
By Kathleen Brown • May 01, 2019 -
Steel Dynamics CEO: Quotas 'likely' to replace tariffs
A handful of quota supporters see them as a necessary evil that would stabilize the market after an initial period of shock, but opponents seem to be more vocal so far.
By Emma Cosgrove • April 29, 2019 -
World's most expensive place to build is now San Francisco
The city's average construction costs of $416 per square foot increased 5% in 2018 to surpass New York City.
By Kim Slowey • April 11, 2019 -
Developer-builder to invest $1B in heartland opportunity zones by 2022
Decennial Group aims to direct up to $20 billion of construction to the economically challenged tax havens during the next 10 years.
By Kim Slowey • April 09, 2019 -
Total February spending up 1%, highway segment up 9.5%
The numbers exceeded expectations and represented a rebound from weak spending at the end of 2018.
By Kim Slowey • April 05, 2019
