Economy


  • Several states cut corporate tax rates for 2023

    Many states are competing for businesses by reducing corporate tax rates as of Jan. 1, the Tax Foundation said.

    By Jim Tyson • Jan. 26, 2023
  • A planned Intel facility in Oregon
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    Permission granted by Intel

    Intel cancels $700M Oregon lab project

    The tech giant planned to use the 200,000-square-foot facility to study sustainable technologies for data centers.

    By Jan. 25, 2023
  • AGC image library construction worker with steel Explore the Trendline
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    Permission granted by Associated General Contractors of America
    Trendline

    Labor

    A roundup of articles about issues affecting the workforce.

    By Construction Dive staff
  • A tall building under construction rises to the sky.
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    CHUNYIP WONG / iStock / Getty Images Plus via Getty Images

    2023 begins with ‘positive momentum’ for construction

    December project starts grew 27%, the first end-of-year monthly gain since 2017, according to Dodge.

    By Jan. 25, 2023
  • Wood-framed apartment building under construction.
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    Maudib via Getty Images

    3 reasons why labor, material and land prices may ease for multifamily developers

    The cost of building new apartments should moderate this year, experts say.

    By Leslie Shaver • Jan. 24, 2023
  • Slinger in helmet and vest controls unloading of metal structures on construction site.
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    Sergey Pakulin via Getty Images

    2023 construction outlook roundup: Proceed with caution

    As they look to the year ahead, contractors want to know how frayed supply chains, inflation and labor shortages will affect their business.

    By Construction Dive Staff • Jan. 23, 2023
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    Courtesy of Associated Builders and Contractors

    Construction input prices log biggest drop since April 2020

    December’s report marks the largest monthly decline since early in the pandemic and the smallest annual increase in nearly two years, according to ABC. But pricing pressures remain.

    By Jan. 20, 2023
  • Walmart hires personal shoppers for the holiday 2020 season.
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    Courtesy of Walmart

    Weak retail sales, manufacturing signal cooling economy

    The Fed’s fight against inflation, while showing some recent signs of success, may dim prospects for economic growth.

    By Jim Tyson • Jan. 19, 2023
  • construction at The Boro in Tysons, VA.
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    Courtesy of Associated Builders and Contractors
    Deep Dive // 2023 OUTLOOK

    Recession watch: Why the next one will be different

    Executives from Skanska, DPR, Suffolk and others see unique characteristics in an economic slowdown this year.

    By Jan. 18, 2023
  • Street view of a tall, blocky silver building with many windows.
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    The image by LittleT889 is licensed under CC BY-SA 4.0
    Q&A

    Construction executive sees opportunity in Texas

    The executive vice president of MAPP, a Baton Rouge, Louisiana-based contractor, expects a bright future for the Sun Belt but predicts office and industrial projects will take a hit this year.

    By Jan. 18, 2023
  • Two construction workers stand as one operates a drone. The drone is in the foreground of the picture, with the two workers who wear hardhats and safety vests.
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    Natnan Srisuwan via Getty Images
    2023 OUTLOOK

    Contech trends to watch in the new year

    As builders adapt to economic, supply chain and labor challenges, they're turning to technology to boost performance.

    By Jan. 11, 2023
  • Slinger in helmet and vest controls unloading of metal structures on construction site.
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    Sergey Pakulin via Getty Images
    2023 OUTLOOK

    New year, new challenges for IIJA

    Inflation, labor shortages and supply chain snarls could hamper federal infrastructure act work in the coming year.

    By Jan. 10, 2023
  • Bridge connecting hospital to Mays Cancer Center, the National Cancer Institute-Designated Cancer Center at UT Health San Antonio
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    Courtesy of UT Health San Antonio
    2023 OUTLOOK

    Sector watch: Lab, hospital projects will keep institutional building healthy

    Government stimulus will help healthcare, education and other institutional projects grow in 2023, according to a construction economist.

    By Jan. 10, 2023
  • A person in a reflective vest and utility mask bends over their work, with unfinished concrete bridge parts in the background.
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    John Moore via Getty Images
    2023 OUTLOOK

    What’s keeping contractors up at night?

    Supply chain chaos and an impending recession are among builders’ top concerns in 2023, according to a new survey.

    By Jan. 9, 2023
  • A rendering shows plans for two new leading-edge Intel processor factories in Licking County, Ohio.
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    Courtesy of Intel
    2023 OUTLOOK

    Sector watch: Overall commercial starts to tumble this year

    Manufacturing and data center projects will prop up U.S. construction as work slows on retail projects, warehouses and offices.

    By Jan. 9, 2023
  • Aerial view of planes and airport infrastructure.
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    Mario Tama via Getty Images

    New York-area infrastructure gets a boost from $8.3B Port Authority budget

    The 2023 approved capital budget includes $2.9 billion to redevelop three major airports and replace the Midtown Bus Terminal in New York City.

    By Jan. 3, 2023
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    kali9/E+ via Getty Images
    2023 OUTLOOK

    Inflation could sap infrastructure act’s buying power this year

    High costs for materials, fuel and labor mean jurisdictions aren’t getting as much of a budget bump as they’d hoped from the federal legislation.

    By Jan. 3, 2023
  • rendering of the Harbor-UCLA Medical Center campus
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    Courtesy of Harbor-UCLA Medical Center

    Nonresidential construction starts plunge 25%

    Higher interest rates and recession fears likely restrained starts activity in November, said Dodge Construction Network Chief Economist Richard Branch.

    By Dec. 21, 2022
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    Win McNamee via Getty Images

    Fed raises main rate by half point, signals higher level in 2023

    Fed Chair Jerome Powell said that recent progress in reducing inflation is not enough to forestall increases in borrowing costs in 2023.

    By Jim Tyson • Dec. 15, 2022
  • One of MYCON's industrial building projects
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    Courtesy of MYCON General Contractors
    Q&A

    Dallas GC plans Sun Belt expansion to weather 2023 slowdown

    A MYCON exec mapped out how the firm will go on the offensive to deal with an expected recession next year.

    By Dec. 13, 2022
  • Aerial view of London
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    Tom Shaw via Getty Images

    Balfour Beatty predicts higher profits in year-end update

    The London-based contractor expects to end the fiscal year with more cash and a higher backlog than anticipated.

    By Dec. 12, 2022
  • ABC construction at The Boro in Tysons, VA
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    Courtesy of Associated Builders and Contractors

    Construction input prices tick down as supply chains improve

    Although the cost of most materials has declined, contractors still face financial challenges on the labor side, according to Associated Builders and Contractors.

    By Dec. 9, 2022
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    Blue Planet Studio via Getty Images

    US could skirt recession, former Fed economist says

    Inflation and economic uncertainty top business leaders’ worries, but easing supply chain pressures and a strong labor market could help avert a recession.

    By Grace Noto • Dec. 9, 2022
  • Workers talking at construction site reviewing plans
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    ljubaphoto via Getty Images

    Construction planning numbers increase for third consecutive month

    Despite growth, labor challenges, supply shortages and high interest rates could decelerate planning activity over the next 12 months, according to Dodge Senior Economist Sarah Martin.

    By Dec. 8, 2022
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    Maria Turova via Getty Images

    Tech sector decline saps office construction comeback

    In-office occupancy is at the highest level since the pandemic began, but Big Tech's woes have undercut the office sector's recovery, a Newmark report says.

    By Dec. 7, 2022
  • A new building is being constructed with use of tower crane
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    ilkercelik via Getty Images

    5 charts that hint at what’s in store for construction in 2023

    The industry will continue to face labor shortages, high materials costs and other headwinds, but infrastructure will be a bright spot.

    By Dec. 6, 2022