Social networking is coming to construction. So far, it is not a Twitter-like feed of 140 characters or less, nor is it free of charge. But it could be a highly useful tool to help firms engage each other more openly, cut risk and ease tension in a time of economic distress. One such innovator, Textura Corp., appropriately derives its name from the Latin words for “build” and “intertwine.” In just three years it has built a base of 38,000 users—and 25% of ENR Top 400 general contractors—into an innovative bill-pay site. Textura has turned the tedious business of bank
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.