Peoria, Ill.-based equipment manufacturer Caterpillar Inc. announced on July 30 it will build a $426-million, 850,000-sq-ft mining equipment plant in Winston-Salem, N.C. Construction of the facility is scheduled to begin in November, with production to start in 2012. North Carolina approved a $16.8-million incentives package of tax rebates, credits and grants contingent on the company meeting hiring goals for 11 years. Winston-Salem and Forsyth County put up $23 million, making the total incentives package worth almost $40 million.
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.