Construction firms added jobs in 36 states between August 2013 and August 2014, while construction employment increased in 28 states between July and August, according to a recent analysis of Labor Department data by the Associated General Contractors of America. Association officials noted that construction activity continues to spread even as employment gains remain uneven by month and state. “The number of states with increases in construction employment over the last 12 months moderated in August but remained strongly positive as construction activity continues to spread across most of the nation,” said Ken Simonson, the association’s chief economist. “While most
All major categories of construction spending increased in July, and total construction reached the highest level since December 2008, according to a recent analysis by the Associated General Contractors of America. Association officials welcomed the robust spending figures but cautioned that growing demand will put new pressure on an already tight labor market. “It is encouraging to see signs of a broad-based recovery in private construction along with a recovery—at least for now—in public construction investment,” said Ken Simonson, the association's chief economist. “Private nonresidential construction should remain strong through the rest of 2014 and beyond, while residential spending is
The Dodge Momentum Index rose slightly in August, increasing to 118.8 (2000=100) for the month, up 0.2% from the July reading. The improvement in August is on the heels of a 5.7% decline in July, according to McGraw Hill Construction, a division of McGraw Hill Financial. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The momentum index is now 13.9% higher than one year ago and continues to point to recovery in the sector.The
The Equipment Leasing & Finance Foundation (the Foundation) recently released the September 2014 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827-billion equipment finance sector. Overall confidence in the equipment finance market is 60.2, an increase from the August index of 58.9. MCI-EFI survey respondent Valerie Hayes Jester, president, Brandywine Capital Associates Inc., said, “We are experiencing stronger demand than in the past several months, which bodes well for a
Construction materials prices were unchanged in August but are 1.7% higher than this time last year, according to a Sept. 16 producer price index (PPI) release by the U.S. Dept. of Labor. Inputs to nonresidential construction, which also remained unchanged in August, are 1% higher than in August of 2013. “In general, nonresidential construction remains stable, despite the recent uptick in demand for inputs in North America,” said Associated Builders and Contractors Chief Economist Anirban Basu. “There are a number of factors at work, including an unexpectedly weak European economy and a surprisingly strong U.S. dollar. While the Euro has
A new study led by the University of Colorado Boulder found that different strategies used by states to reduce power plant emissions—such as setting emissions caps and encouraging renewable energy—are both effective. The study is the first analysis of its kind. The findings are important because the success of the Environmental Protection Agency’s proposed Clean Power Plan depends on the effectiveness of state policies in reducing power plants’ carbon dioxide emissions. The plan would require each state to cut CO2 pollution from power plants by 30% from 2005 levels by the year 2030.“In addition to suggesting that the EPA’s Clean
Helix Electric Nevada Inc., a Las Vegas-based turnkey electrical contractor, has quietly become an industry giant with a 400-employee work force and $83 million in revenue last year. The company anticipates 10% growth in 2014 due to a recovering economy and demand for solar power and multifamily housing. Helix attributes its success to a combination of business diversity, strong customer service and employee training, and little turnover. “Roughly 70% of our revenue comes from repeat business by approaching client issues as partners and problem solvers,” says Victor Fuchs, company president. “We supported many of our clients during the recession, and
The University of Colorado Boulder’s Baker Hall, closed for the past 15 months for its first major renovation in more than 75 years, welcomed 456 students in late August with a modernized interior that better addresses the needs of today’s students while retaining the building’s original charm. Photo by Patrick Campbell, University of Colorado Boulder The $41.5-million renovation of 1937 Baker Hall includes 115,000 sq ft, 456 beds, 256 student rooms, a hall director apartment, a faculty apartment, four classrooms and 10 faculty offices. Photo by Patrick Campbell, University of Colorado Boulder Each student room has smart heating and cooling
The U.S. General Services Administration rededicated its U.S. Custom House Federal Building at 721 19th St. in Denver on September 10. The building received new mechanical and electrical systems to improve its energy efficiency, along with replacement of 750 windows. Photo courtesy of Matsuo Engineering and Centerre Construction The U.S. Custom House remodel included raising the height of interior ceilings to their original elevations and restoring all wood base, trim and doors. The GSA anticipates that the improvements will lower energy consumption by 20% as well as increase tenant security.The project budget was $43.5 million, and at its peak, it
RSS