Economy: Page 2

Banks went all in on construction lending in Q2, despite delinquencies

Some banks aggressively pursued nonresidential lending for new projects, even amid nonpayment on outstanding loans. Wells Fargo and JPMorgan Chase topped the list of commercial lenders, according to S&P.

By Joe Bousquin , Jenn Goodman • Sept. 02, 2020

What contractors need to know about the payroll tax deferral program

Many employers will opt out of President Donald Trump's relief program, which begins today, on concerns they could be left holding the bag for back taxes.   

By Robert Freedman • Aug. 31, 2020

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Trendline

Labor

A roundup of articles about issues affecting the workforce.

By Construction Dive staff

Q&A

Despite coronavirus challenges, financing is available for the right projects

Capital is available for new construction, especially for multifamily and industrial work, but projects have been slower to get started, according to EBI Consulting's Frank Cook.

By Jenn Goodman • Aug. 28, 2020

Deep Dive

The COVID-19 conundrum: Money is available for new construction projects, but few are breaking ground

While financing is available for the right projects, owners and developers aren't so eager to take a risk on ground-up construction during the uncertainty of the coronavirus pandemic.

By Joe Bousquin • Aug. 24, 2020

Marriott trims US hotel plans, cancels development meeting

The hotel giant's shrinking pipeline is due to "a lackluster lending environment and owner uncertainty,” according to CEO Arne Sorenson.

By Joe Bousquin • Aug. 20, 2020

Infrastructure starts plummet 31% in July, other sectors make small gains

Nonresidential building gained 3%, providing some evidence that a recovery may be underway, according to Dodge Data & Analytics. Another construction analyst was more bearish on the results. 

By Joe Bousquin • Aug. 19, 2020

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Why compliance education is still a smart investment during the pandemic

Forgoing yearly training for your compliance staff during the pandemic could be a huge mistake.

Architectural billings continue to decline

The AIA Billings Index fell again in July, albeit at a slower pace than earlier this year when the index dropped to an historic low.

By Joe Bousquin • UPDATED: Aug. 24, 2020 at 7:27 a.m.

AECOM ups guidance after mixed Q3 results, resumes talks to sell units

Essential status of its infrastructure projects insulated the firm from COVID-19 initially, and AECOM beat Wall Street estimates. But the results came on lower revenue, and private business slowed in June.

By Joe Bousquin • Aug. 05, 2020

$9.6B worth of infrastructure projects delayed or canceled during COVID-19

The American Road & Transportation Builders Association released a report detailing projects that have been delayed or canceled by 44 states, transportation authorities and local governments. 

By Joe Bousquin • Aug. 04, 2020

Top 10 cities for construction workers

Small and midsize cities pay above-average construction wages and boast modest costs of living that make them excellent locations for workers in the industry, according to a new analysis.

By Jenn Goodman • Aug. 03, 2020

Readers Respond: COVID-19 will disrupt construction for at least another year

Construction Dive readers who answered our latest survey voiced a growing acceptance, and concern, over the novel coronavirus persisting well into 2021 and beyond.  

By Joe Bousquin • July 30, 2020

Q&A

How a Pennsylvania contractor employs a team approach to COVID-19 challenges

Poole Anderson Construction President Stephanie Schmidt talks about furloughs, safety protocols and finding the most comfortable face coverings for her employees.

By Jenn Goodman • July 23, 2020

Readers Respond: PPP loans help keep workers on payroll

Of the 92% of respondents to a Construction Dive survey who received Paycheck Protection Program funding, many hope the loans will be forgiven.

By Jenn Goodman • July 16, 2020

Report: AEC proposal activity at lowest level in a decade

While proposal activity shrank due to COVID-19, a few construction sectors experienced growth in Q2, according to PSMJ Resources.

By Jenn Goodman • July 15, 2020

Materials prices rise for second straight month since COVID-19 crisis began

New analysis shows soaring lumber and petroleum costs were the biggest contributors to rising materials prices for contractors, with lumber prices up 50% since mid April.

By Jenn Goodman • July 12, 2020

Take our survey: What's your experience with PPP loans?

Construction Dive wants to know: How many of your employees is the Paycheck Protection Program helping to support?

By Jenn Goodman • July 10, 2020

Q&A

McHugh Construction rethinks budgets, schedules to focus on new normal

The president of the 123-year-old Chicago-based construction firm talks about tracking virus-related project costs and his fear of complacency.

By Jenn Goodman • July 09, 2020

Friday Feedback: Should construction be halted in areas showing a rise in COVID-19 cases?

When the coronavirus outbreak first hit the U.S., states and jurisdictions limited nonessential work, including construction. Is it time to consider new shutdowns in order to keep workers safe? Let us know.

By Jenn Goodman • June 19, 2020

Q&A

McCarthy regional office is on the front line of key projects

McCarthy Southern California Region President Mike Myers talks about the company's work on essential projects in healthcare, research and infrastructure and its extensive protocols for dealing with COVID-19.

By Jenn Goodman • June 18, 2020

Lenders' top tips for weathering the COVID-19 crisis

The coronavirus pandemic has made contractors’ relationships with their banks more important than ever. Here’s how to ensure a smooth partnership even during difficult times.

By Jenn Goodman • June 16, 2020

Beyond PPP: Federal loans, tax credits for contractors

Here's the lowdown on some options other than the Paycheck Protection Program for financial assistance including Main Street loans and CARES Act tax credits.

By Kim Slowey • June 15, 2020

PPP loans now only require 60% of funds for payroll use

Several sought-after changes to make the loan program more useful to contractors and others were signed into law by President Donald Trump. 

By Robert Freedman • June 08, 2020

Construction employment sees record rebound in May

New government employment data points to a sooner-than-expected economic recovery, according to ABC economist Anirban Basu.

By Jenn Goodman • June 08, 2020

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