New Study Pegs Equipment Theft at $1 Billion Annually and Growing As Crime Rings Expand
Equipment theft could be costing owners $1 billion a year and the problem is growing as crime rings get into the act, according to National Equipment Register, New York City.
A new study by the security firm found that skid-steers remain the most commonly stolen construction item at about 23% of all incidents, followed by backhoes at 20% and loaders at 12%. Texas, North Carolina, Florida, California and Georgia have the most thefts, accounting for 33% of all stolen machines. "There is more equipment in some states than others [and] I think that is the overriding factor," says NER President David Shillingford.