Posts filtered by tag:

Construction Business

View posts
Overturning Mayor’s Veto, Maui County Council Enforces Two-Year Moratorium on Hotels Construction

This week the Maui County Council voted to overturn Mayor Mike Victorino’s veto of a bill that would halt all new hotel construction for the next two years. Councilmember Keani Rawlins-Fernandez, who introduced the bill, said that this isn’t intended to stop tourists from coming to the island; they only want to give the county more time to figure out how to accommodate the increasing number of tourists, as well as find more available low-income housing for Maui residents.

Read story
Lumber Prices, Which Had Begun to Sink, Have Now Rocketed to Record Highs Again

The National Home Builders Association says increasing prices could cause the average new single-family home to increase by $18,600. Lumber prices hit record highs in May of 2021. During a brief price drop, the construction industry hoped to return to pre-pandemic numbers; unfortunately, costs snapped back up.

Read story
Construction Spending Rises Overall with Residential, But Offices Fell Sharply

According to the Commerce Department on January 3rd, Spending on construction projects rose 0.4% in November to a seasonally adjusted annual rate of $1.63 trillion, less than the Wall Street Journal’s prediction of a 0.7% increase.

Read story
Studies From Canada Show Increased Mental Health Problems in Construction

Multiple studies indicate that the COVID pandemic and job insecurity affect workers’ mental health. For example, a Canadian study says construction workers experience more mental health issues than most.

Read story
Japan's Prime Minister Admits Country Has Been Overstating Construction Data for Decades

On December 15th, Japan's Prime Minister admitted overstatements by the government regarding the value of some construction orders; this struck a blow to investors and economists' confidence in the country's official statistics.

Read story
Despite Materials Shortages, New Construction is Up

Census data from last week shows a 12% jump in housing starts in November over October; this occurred amid construction industry struggles such as the labor and materials shortage and all-time highs in construction costs.

Read story
Skyrocketing Construction Costs Are Endangering An In-Progress Zoo Overhaul

Waco, Texas builders feel the heat of post-pandemic materials and labor price hikes. But perhaps no job site feels the pain more than the Cameron Park Zoo, a non-profit that relies on fundraising to expand. The zoo began construction with financing in place—prices spun out of control.

Read story
Construction Company Owner and Employee Charged Related to Deaths

Boston courts failed to charge the Atlantic Coast Utilities construction company with the late February deaths of two contractors. However, the business owner and an employee did catch four counts of perjury charges related to the deaths.

Read story
Thieves Across the Country Are Stealing Construction Materials

Across the United States, in the wake of materials shortages, thieves have been ransacking job sites. They don’t just steal power tools; they take lumber, fixtures, and steel.

Read story
Opposition Grows To “Prison-Like” Dorm Project

UC Santa Barbara students opposed construction of a building expected to house 4,500 students; some refer to it as a prison. The architect resigned in the cloud of a student petition that already contains over 12,000 signatures.

Read story
New Report Shows Construction the #1 Most Targeted Ransomware Victim

According to research from NordLocker, ransomware targets construction companies hardest out of 35 different industries. This information comes from an analysis of 1,200 global companies targeted by ransomware between 2020 and 2021.

Read story
ConTech Company Introduces New Credit Card for Construction Industry

Flexbase, a construction technology company, plans to offer something new: a particular credit card for the construction industry. The card provides up to 60 days of interest-free financing.

Read story
Contractors Lament Having to Hire Worker Who "Have No Idea" How to Do the Job

Construction companies claim that the labor shortage forces them to pay higher wages for lower-skilled workers. Builders, in particular, feel the pinch as the number of skilled laborers trended downward in their industry before the issue spread into a broader economic pool.

Read story
Texas Governor signs $3.3 Billion Bill for Construction of Higher Education Infrastructure

As part of the $39.6 billion allocated to higher education in the American Rescue Plan, Texas lawmakers have designated $3.3 billion to construct new buildings at state universities and some renovations. The bill includes money because colleges and universities remain financially pinched from the pandemic.

Read story
Mosaic Raises $44 Million for Construction Planning Process, Buys Home Builder

Mosaic Building Group, a Phoenix-based construction tech startup, has raised an additional $44 million in Series B funding, bringing their total funding to $68.75 million. Mosaic designed its software to manage construction infrastructure in a way that will allow real estate developers to focus on things like land acquisition, sales, and architecture. Ultimately, Mosaic says, their goal is to make residential construction more scalable.

Read story
Rancher Sues to Block Construction, Claims Conflict of Interest

A northern Nevada rancher plans to block construction of the United States’ largest lithium mine with a lawsuit; he alleges a conflict of interest on the part of the project’s chief consultant that downplays potential harm to water resources and wildlife.

Read story
Construction Unexpectedly Drops 0.5% In September

According to a report issued Monday from the U.S. Commerce Department, construction spending had a surprising 0.5% drop in the month of September to an annual rate of $1.574 trillion. The rate had grown by 0.1% in August.

Read story
Housing Boom Continues to Break Records—But There’s a Twist

With low mortgage rates, plentiful jobs, and the market’s desire for more space, the housing boom in the United States stands at record levels. Last week the National Association of Home Builders announced a 7% jump from August; such levels haven’t existed since the housing boom in 2007.

Read story
US Homebuilder Sentiment Rebounds Despite Problems

Despite supply chain slowdowns and rising housing costs, builder confidence rose 4 points in the last month to 80 on the National Association of Home Builders/Wells Fargo Housing Market Index. Though down from 85 in October 2020 and down from the record high of 90 in November, analysts consider anything above 50 to be positive.

Read story
"Pricing Insanity" Affecting All Levels of Construction

Whether in board meetings or on job sites, construction employees at all levels express concern regarding the unprecedented hikes in building costs.

Read story
Chinese Economic Growth Shrinking Under Pressure of Construction Slowdown

Amid worldwide growth in construction, the Chinese government takes another tack: deliberate economic reduction. China's economy, the second-largest globally, increased 4.9% year-over-year, compared to the previous quarter of 7.9%. Factory output, retail sales, and construction caused the slowdown.

Read story
Crane Use, a Bell Weather of Commercial and Public Construction, Dips in the US and Canada

Construction economists use crane usage to gauge the state of the industry in specific locations. The Rider Levett Bucknall Crane Count, developed to measure that very thing, indicates that the stats from Q1 to Q3 of 2021 don't look great for commercial and public construction projects.

Read story
Data-Driven Safety is “Still Emerging” in Construction Industry

A report issued by Dodge Data & Analytics and The Blue Book Network cites movement in the construction industry toward data-driven safety and digital record keeping. However, the report also uncovers holes in the adoption of this technology.

Read story
Labor Shortage Will Get Worse, Not Better, Reports Show

It’s no secret that the shortage of skilled labor, both in the United States and worldwide, impacts the construction industry. A report released on September 22nd, 2021 by the U.S. Chamber of Commerce states that 92% of contractors experienced “moderate to high levels of difficulty” finding workers. In addition, 93% of contractors expect hiring to become more complex.

Read story
Despite Warnings of Problems, Dubai Reports Low Construction Accident Rate

At Expo Dubai, construction officials reported a 0.03 accident frequency rate (contrasted against 0.1, The United States latest numbers); this came amid adverse working condition reports. More than 25 million visitors have visited The Expo Dubai, a massive undertaking similar to the World's Fair. Construction for the Expo began more than six years ago.

Read story
14 Mobsters Arrested in Decades-Long Construction Union Shakedown

The Colombo crime family targeted a construction union in Queens (the union remains unnamed in the unsealed court paper). Mobsters demanded monthly payments from the union’s health fund. Andrew Russo made the list of defendants. He acted as the alleged boss of the family, accused of taking $10,000 a month from the union fund.

Read story
Seattle Carpenters Union Votes to Strike, Shutting Down Sites Around the City

Amid a construction community atmosphere already stretched to breaking by labor shortages, a Seattle carpenters union takes an unexpected path by voting to go on strike. The results: 56% for, 44% against striking.

Read story
No End in Sight for Cheaper Residential Construction, Economists Say

Amid declining prices of some building materials, such as lumber, since their early 2021 peaks, other materials costs remain at record highs. Steel, paint, fixtures, and appliances top the list. As a result, economists believe exorbitant prices will persist.

Read story
Famed Manhattan Skyscraper Developer Sued for $125 Million, Plus Damages

In a complaint filed last week, the condo board of 432 Park Avenue says that more than 1,500 construction errors, some deemed to be “life safety issues,” riddle their 96-story building. The building once stood as a media darling with celebrity tenants such as Jennifer Lopez and Alex Rodriguez.

Read story
Attracting New Talent in a Construction Market Where Employees Have the Leverage

The construction industry needs new blood; labor shortages exist everywhere, and methods of attracting new hires increase in complexity.

Read story
Texas Reports Delta Variant is Hammering Construction—Again

Despite the rapidly growing population, the pandemic-driven boom in residential housing sales and the high demand for builders with large backlogs, construction in the Lone Star State looks dismal.

Read story
New Residential Construction Booms, But Watch Out For Your Wallet

Despite a tough eighteen months for the construction industry, residential construction proceeds at a break-neck pace. But increased costs and uncertain build schedules increase the difficulty of home construction. Construction spending sits 8.2% higher than one year ago.

Read story
Hyundai Buys Doosan, Creating One of the Largest Construction Equipment Companies

Last week, Hyundai Heavy Industries purchased Doosan Infracore, creating a combined company in the top ten largest global construction equipment manufacturers. The plan makes Doosan Infracore a subsidiary of Hyundai Genuine group, of which Hyundai Construction Equipment is also a subsidiary. Both Doosan and Hyundai are South Korean companies. After the purchase, they will continue to operate independently.

Read story
Apple and Google Preparing Massive Construction in San Jose Despite Pandemic Setbacks

Tech giant Apple intends to construct a new campus complex in San Jose that will cover 85 acres and include their north office. The building site contains a semi-permanent homeless encampment currently. Apple pledged to help the city deal with its homeless population.

Read story
Nonresidential Construction Prices Up 23% Over 2020

According to new data released from the Bureau of Labor Statistics on August 12, nonresidential construction prices have increased 23.4% since this time last year, including a 0.8% increase over last month.

Read story
ABC: OSHA Requirements Are Minimum Standards, Not Highball

According to the most recent data from OSHA, construction continues its poor streak as the most dangerous industry in the United States, accounting for one in five workplace deaths. The top ten causes of workplace deaths contain three that are specific to construction: Ladders (#6), Scaffolding (#3), and Fall Protection (#1). Fatalities from construction falls have been in the number one place on the list for nine straight years. Additionally, construction fatalities increased by six percent in the last year.

Read story
Bipartisan Infrastructure Bill Includes $100 Million For Construction Technology

The $1.2 trillion infrastructure bill passed in the Senate last week includes an investment in construction technology of $100 million spread over five years. The government intends to focus the funds on digital construction technologies such as BIM, 3D modeling software, and digital project management.

Read story
Construction Spending Bumps Up In June, But Barely

The Commerce Department released a report on August 2nd indicating that construction spending inched up a slight 0.1% in June; this was a tradeoff as private projects increased and public sector construction projects dropped.

Read story
Construction Unemployment Rates Down in 45 States

According to the Associated Builders and Contractors (ABC) report in conjunction with the U.S. Bureau of Labor and Statistics, the national construction unemployment rate dropped 2.6% in June compared to the same month last year. Forty-five states experienced decreases, though the rates have not rebounded back to pre-pandemic levels.

Read story
Mighty Buildings Raises $100 Million for Carbon-Neutral 3-D Printed Homes

Based in Oakland, CA, the construction technology company Mighty Buildings raised $22 million last month, increasing its total funding to more than $100 million as it goes after the sustainable construction market. Mighty Buildings pursues a goal of creating net-zero carbon emission homes by 2028.

Read story
Colorado Contractor Sentenced to Prison For Workplace Death of Employee

Colorado courts sentenced Bryan Johnson, a contractor from Avon, CO, to 10 months in prison. He faced manslaughter and negligent homicide charges after a workplace accident left a man dead in 2018. Johnson didn’t go to trial; he pled guilty to two counts of reckless endangerment and one count of 3rd-degree assault causing injury.

Read story
Architecture Billings Index Indicates More Construction In Pipeline

The Architecture Billings Index (ABI) released its report for May 2021, showing that the demand for architectural services is at a record high. The ABI measures demand through tracking signed contracts. It hit 58.5 in May, up from 57.9 in April. (Anything above 50 indicates an increase over the previous month. Anything lower than 50 marks a decrease.)

Read story
ABC Reports One Million More Construction Workers Needed

According to a new report from Associated Builders and Contractors, the construction industry—already short on workers before the pandemic—needs to hire 430,000 more laborers in 2021 for a total of 1,000,000before the end of 2022.

Read story
Construction Ripe for Tech Innovation? Yes, But with Conditions

Construction companies understand their industry’s tendency to adopt new tech at a snail’s pace; this makes construction a major target for new tech startups, but there’s a catch.

Read story
Lumber Prices Drop for Nine Straight Weeks

Dropping to the lowest price they've been since January, lumber fell 4% on Friday to $689 per thousand board feet; this represents a dramatic drop over the last nine weeks after the prices topped out at $1670 on May 7th.

Read story
Summer Construction Camp Looking to Draw More Women Into the Skilled Labor Pool

East High School in Des Moines hosts a free construction camp for girls aged 14 to 18. The class includes some lecture time and plenty of hands-on experience, such as wiring a three-way light switch.

Read story
New York Construction Executive Sentenced for Tax Evasion and Bribery

The Manhattan Federal Court sentenced Vito Nigro, a New York construction executive, to 51 months in prison for evading taxes on more than $1.8 million in bribes he received from subcontractors.

Read story
Five Things to Think About When Adopting New Construction Technology

Every week, it seems like a new construction technology claims to revolutionize the industry. But are these technologies right for you, and will they succeed as the claimed magic bullets that completely revamp your workflow? Here are five questions to ask:

Read story
New York City Shuts Down 300 Jobsites Over Safety Violations

After the death of seven construction workers so far this year in New York City, including three in May, the city’s Department of Buildings plans to crack down on safety violations.

Read story
Habitat For Humanity Struggling Under Weight of Material Costs, COVID

Habitat for Humanity, the charity organization that builds homes for the disadvantaged, faces financial trials. The first blow came from the virus; safety precautions severely reduced the number of volunteers they could have onsite. The second came from the lack of revenue from closed ReStores, a chain of reuse stores Habitat for Humanity runs to partially fund their projects. The third blow came from supply chain issues—the same issues faced by all residential contractors.

Read story
Bipartisan Infrastructure Bill Boosts Construction Stocks

After the federal government passed a bipartisan deal for $973 billion in infrastructure spending last Thursday, the S&P 500 posted its best week since April, closing out Friday at new record highs. Shares of construction giants Caterpillar, Martin Marietta Materials, and Vulcan Materials traded higher on the news.

Read story
New Data Shows Input Prices Jumped 24%

Contractors know about massive price jumps in materials. Still, a new report from the federal government shows that non-residential construction input prices rose 23.9% in May over May of 2020, and the prices rose 4.8% since April.

Read story
Report: Construction Errors Led to Mexico City Metro Collapse That Killed 26

A preliminary report issued by the Norwegian company DNV and other international experts—prepared at the request of the Mexican government—found that at least six construction violations led to the collapse of the metro train last month that killed 26.

Read story
New Report Shows Housing Construction 5.5 Million Units Short

A new report from the National Association of Realtors revealed a slowdown in construction over the past twenty years—primarily due to focus on single-family homes rather than multi-family houses. The result: a 5.5-million-unit shortfall.

Read story
Construction Costs May Spoil Europe's Recovery Plan

Like the United States post-pandemic recovery plan, the European Union passed an €800 billion program to speed the continent's recovery. But now, construction executives and organizations warn that a rapid rise in construction costs may cause a significant speed bump in that plan and may stop the recovery altogether.

Read story
Modular Construction Hits the Big Time But Has Historic Roots

Builders chatter about modular construction, particularly over the past few years. Even Warren Buffet entered the market with an ambitious venture into the technology. A new report projects modular construction to be worth $114 billion by 2028.

Read story
Construction Facing "Perfect Storm" For Robotics

ABB, the Switzerland-based engineering group behind much of the world's automotive factories' robotic assembly lines, holds that the post-pandemic state of mass construction and labor shortage indicates a prime time to integrate robotics into the process.

Read story
With a Labor Shortage, Why Is Construction Shedding Jobs?

The economy added 559,000 jobs in May, and the unemployment rate fell from 6.1% to 5.8%. However, despite the job gains and a massive labor shortage that has plagued construction, the industry lost a net 20,000 jobs; this comes after an April with no increase in construction jobs.

Read story
New Construction is Selling for Less Than Existing Homes, But That’s Misleading

The exploding residential market continues to skyrocket, rising as quickly as manpower and material supplies can accommodate. And yet, new national data from the first quarter of 2021 shows that existing homes sell for higher prices than new construction.

Read story
Bureau of Labor Statistics Releases Best Paying Construction Jobs Figures

Due to high demand, of all industries, construction perhaps most seamlessly weathered COVID-19. Hence, construction workers enjoy premium pay. The United States Bureau of Labor Statistics (BLS) forecasts construction employment adding 4% year-on-year from now through 2029, compared to a national job average of 3.7%. The BLS expects to see the most growth in solar photovoltaic installers (up 50.5%), tile and stone workers (up 8.6%), and electricians (up 8.4%).

Read story
Construction Plastics Market to Reach $140.7 Billion by 2028, Study Finds

Adroit Market Research announced that they expect the construction plastics market to reach $140.7 billion by 2028 at a compound annual growth rate (CAGR) of 6.67%. Polyvinyl chloride, polystyrene, polyethylene, polyurethanes, and other materials comprise the construction plastics market. Builders use these materials for various purposes, including roofing, walls and coverings, pipes and ducts, and windows.

Read story
Workrise Raises Over $300 Million to Train New Construction Worker

Every construction company knows about the drastic shortage of skilled labor entering the market. Numerous polls cite this shortage as the number one or two concern among contractors, builders, and owners.

Read story
Warren Buffet’s New Take on Modular Housing: Make it Like IKEA

Danny Forster Architecture, a New York firm, has partnered with MiTek Inc, a company owned by Warren Buffet’s Berkshire Hathaway, to create the Modular Activation Platform (MAP); they intend to solve some of the main problems with modular construction.

Read story
Controversial New Legislation Seeks to Protect From Wildfires

Californians face the increasing severity of wildfires at the beginning of fire season. The Los Angeles City Council seeks to slow fires with a new proposal: City Building Code Fire District 1 Expansion. This initiative expands fire safety measures in dangerous neighborhoods, such as Silver Lake and Pacific Palisades. The proposal severely limits the use of wood framing in large buildings (over 150,000 square feet).

Read story
New Home Construction Slows, Sees Escalation Clauses As Prices Rise

With single-family home starts down 13% in April, compared to March, many potential homeowners wonder why a slowdown persists during a period of high demand. The answer: lack of workers and scarcity of building materials.

Read story
215 Million Square Feet of Office Space Under Construction, But Slowing

A recent consensus from the American Institute of Architects predicted an 11% decrease in office construction. Tech-driven cities such as Manhattan, Boston, Seattle, Los Angeles, and the Bay Area drive the growth. Builders constructed 25 million square feet of office space in the first two months of 2021, with more coming.

Read story
Architectural Booms May Signal Economic Slowdowns

While great economic times foster magnificent architecture—society builds few massive edifices during food shortages—two rising theories posit that booms in architecture could indicate a coming economic bust. More than that, one such theory blames architecture itself for the downturn.

Read story
2022 Construction Looks Bright Despite Labor and Workforce Problems

The Dodge Momentum Index, a monthly measurement of nonresidential building projects in planning, jumped 8.6% last month, climbing to 162.4 over 149.5 in March; this happened despite hitting its nine-year low in January; the index grew 77% over the previous three months. Healthcare and laboratory projects lead the index, while commercial projects have slipped with fewer warehouses in production. Overall, the index sits 31% higher than in April of last year.

Read story
"No Demand": Big Cities Can't Replace Offices with Apartments

With demand for office space in many big cities—from Melbourne to New York City to London—at significant lows, some housing advocates push to turn empty office space into residential apartments. Office vacancy rates in New York City reached 13.2% in March.

Read story
Nonresidential Construction Down 1.1% in March

According to data from the Associated Builders and Contractors (ABC), spending declined in 11 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.9%, while public nonresidential dropped 1.5% in March.

Read story
Materials Shortage Causes Slow in Construction Hiring

Despite the massive worker shortage plaguing construction, new figures from the Bureau of Labor Statistics show that homebuilders have slowed their hiring pace. The trend moves upward at a crawling pace.

Read story
New Home Construction May Finally Be Meeting Demand

With a season of extreme shortages in new home availability, promising signs of increased production might catch up with demand.

Read story
Work Zone Fatalities Reach 15-Year High

According to new data released from the Federal Highway Association (FHWA), in 2019 (the year with the most recently compiled data), 842 fatalities occurred in work-zone crashes, compared to 757 in 2018, representing an 11.2% increase; this means the highest number of deaths in work zones since 2004.

Read story
“Uber of Construction” Raises $6 Million in Funding

Curri, a new company referred to as the “Uber of Construction,” gains investors as it seeks to disrupt a stagnant distribution model.

Read story
Construction Materials Shortage Getting So Drastic It’s Leading to Theft

Nobody in the construction industry sees the material shortage as new news; lumber has climbed more than 300% since March of 2020. According to a survey from the Associated Building Contractors, lack of materials competes for top concern among contractors, alongside the labor shortage.

Read story
Autodesk’s 2021 Construction Report: “The Market Is Back”

Autodesk published its 2021 Construction Outlook, which analyzes the current construction situation and forecasts the upcoming year. In an interview with Forbes, Autodesk Senior VP and General Manager, Jim Lynch, gave an optimistic assessment: “The big takeaway is that the market is back.”

Read story
March Home Construction Booms, But is There a Bubble?

U.S. housing construction grew at the fastest pace since 2006 in March as builders recovered from the February weather-related slowdowns. Builders began construction on new homes at a seasonally adjusted rate of 1.74 million units in March, up 19.4% over February when building fell 11%. As the fastest boom in growth since the 2006 housing craze, some economists are pleased while others are wary.

Read story
New NYC Marijuana Law Causing New Construction Rules Woes

On March 31, 2021, Governor Andrew Cuomo signed into law a bill that makes recreational marijuana legal in New York. Anyone over the age of 21 can possess up to 3 ounces of the drug. As far as construction crews, a simple solution seems obvious: make a rule that no one may work while impaired. But the problem's complexity requires a more involved solution.

Read story
As COVID Begins to Fade, Construction Woes Linger

Despite the blockbuster residential market, as a post-vaccination country re-opens for business as usual, construction industry problems remain. Two issues hang over the construction industry's head: material and supply chain and labor shortages.

Read story
New Jobs Report Shows 110,000 New Construction Hires in March

The unemployment rate dropped to 6%, adding 916,000 jobs to the economy. The construction industry, with 110,000 new jobs, represented a significant portion of the employment growth.

Read story
LA Tackling Housing Crisis Through Backyard Tiny Homes

Los Angeles, one of the largest metropolitan areas in the world, faces a massive housing shortage. Many people live in wooden barracks. The Los Angeles Department of Building and Safety plans to react to their crisis by launching the Accessory Dwelling Unit Standard Plan Program. Based on a 2017 statewide law, their directive enables the city to approve the construction of tens of thousands of “high-design, minimal dwellings” in-home backyards throughout the city.

Read story
Residential Construction Booms in These Ten Cities

The massive boom in residential construction remains in the news, even with a slowdown at the beginning of 2021. Most anticipate the market to stay strong throughout the remaining year.

Read story
Construction Company Owner Defrauded SBA with Veteran Claims

This week in Texas, a federal grand jury returned an indictment on Michael Angelo Padron with one conspiracy charge to commit wire fraud and eight counts of wire fraud, along with two co-conspirators. According to the charges, Padron placed a service-disabled veteran, Ruben Villareal (one of the co-conspirators), as frontman at his construction company to acquire Small Business Association contracts reserved for veteran-owned businesses.

Read story
Housing Takes A Big Fall in February

The residential housing market, which has boomed for the last year, dropped 10.3% in February, a significant fall. Applications for new homes also fell by 10.8%.

Read story
Massive $20 Billion Chicago Project One Step Closer to Breaking Ground

The $20 billion megaproject, One Central, in Chicago appears to be moving forward, following a dispute with Metra Electric, Chicago’s commuter rail system. Landmark Development, the developer of One Central, reached a tentative agreement this week to work “above, below, and around the tracks in the area without disrupting commuter operations.” Also, Landmark will spend $3.8 billion on a transit connection.

Read story
COVID and Labor Shortage Means Perfect Conditions for Women to Enter Construction

A Fox Business report this week cites an increase in women moving into the construction industry. Within the past 12 months, many more women than men lost their jobs due primarily to womens’ prominence in the retail, hospitality, and travel industries.

Read story
Two Reports Show Positives and Negatives of Construction Outlook

Both Dodge Data and Analytics (Dodge) and Associated Builders and Contractors (ABC) released reports this week that predict 2021's construction industry positives and negatives.

Read story
California Construction Company Intends to Send Tourists to Space

With more companies and countries getting a toe-hold into space, it's only natural that a massive construction project intends to make big profits from future tourist space travel.

Read story
Despite Massive Unemployment, Construction Still Struggles to Fill Job Vacancies

In a year that has seen massive layoffs and millions of people looking for work, you'd think that construction—an industry that has historically suffered from significant labor shortages—would fill vacancies with the flood of unemployed workers. Construction companies have found increasing difficulty hiring skilled laborers.

Read story
New York Creates More Complete Registry of On-the-Job Construction Deaths

New York lawmakers hope to reduce on-the-job construction industry injuries and deaths with a new bill. The New York State senate signed Bill S1302 into law on February 16th; this bill expands on a registry of information related to construction incidents that result in fatal injuries. The bill's language qualifies workers in the following groups: “direct employees, contracted employees, subcontracted employees, independent contractors, temporary or contingency workers, apprentices, interns, volunteers.” It also expands the term “contractor” to include direct employers, contractors, and subcontractors.

Read story
JLL Predicts Less Construction Activity Until Late 2021

2021 looks to be a challenging year for construction, reports Jones Lang LaSalle (JLL), a worldwide real estate conglomerate. JLL predicts a 5% to 8% drop in overall nonresidential construction.

Read story
Construction Contractor Convicted of Mail and Wire Fraud and Defrauding the U.S. Treasury

The IRS convicted Hugo Cruz-Medina, a 33-year-old from Jacksonville, Fl., of several counts of mail and wire fraud, conspiracy to defraud the United States, and illegally entering the country after being deported. He received a three-to-five-year sentence in federal prison and orders to pay his victims $3,266,506.33 in restitution, as well as a punitive amount of $1,408,712.08, which were the proceeds of his mail and wire fraud.

Read story
Australian Construction Company Working in Manhattan Sees Profits Drop 26%

The Australian construction company Lendlease reported last week that its operating profit had fallen 26% from the same period in 2019, from AU $278 million (U.S. $219 million) to AU$205 million ($162 million.) It also cut its dividend by 50%.

Read story
Level 10 Construction Hits Historic Safety Milestone

On February 12, exactly one year after the California-based company, Level 10 Construction, announced it had reached 6 million man-hours worked without a lost-time incident, they announced the next milestone: 7-million hours and seven straight years without a lost-time incident.

Read story
Fortune Magazine Publishes Most-Admired Construction and Engineering Firms

Fortune magazine has published its annual ranking of most admired companies in all sectors, including construction and engineering. The category leader was AECOM, followed by Jacobs, Quanta Services, MasTec, and KBR.

Read story
New York City Faces One of Its Largest Facelifts in Modern History

Of the five boroughs of New York City, perhaps none is as infamous as Riker’s Island, a 413-acre island that houses one of the country’s largest prisons. The New York City Council has marked Riker’s Island as a target for tear down and renovation; most New Yorkers agree with this sentiment.

Read story
New AGC Report Shows How Much Work is Left to Get Construction Back to "Normal"

The Associated General Contractors of America's "2021 Construction Hiring and Business Outlook" report uncovers a significant post-pandemic slowdown. The information also doesn't predict a return to typical construction in 2021.

Read story
Construction Costs Increased in 2020

According to the RLB Comparative Costs Index report, the boomtime residential market has driven up 2020 construction costs despite the pandemic slowdown in the first half of the year.

Read story
Autodesk Acquires Spacemaker, an Artificial Intelligence-based Urban Planner

Autodesk, the maker of Revit and AutoCAD, has acquired Spacemaker, an artificial intelligence-based software company to increase automation opportunities for its portfolio.

Read story
Number of Skyscrapers Completed in 2020 Down 20%

2020 saw 106 new skyscrapers (buildings that stand over 200 meters in height) compared to 133 in 2019. This structural decline takes its place as the lowest since 2014.

Read story

Discover Categories

Want to discover the complete PowerTools blog?
Visit Blog