The Dodge Momentum Index slipped another 0.6% over the month of October, according to McGraw-Hill Construction, a division of The McGraw-Hill Cos. 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 October Momentum Index retreated to 93.3 (2000 = 100), the third consecutive monthly decline following the most recent peak of 96.0 in July. After bottoming out in mid-2011, the Momentum Index had shown a hesitant upward trend through July, with monthly gains outweighing
The value of new construction starts retreated 14% in October to a seasonally adjusted annual rate of $434.9 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Cos. Much of the decline was due to a sharp pullback by the electric power and gas plant category after a robust September. If this volatile project type is excluded from the month-to-month comparisons, total construction starts in October would register a 3% gain. Greater activity was reported in October for the public works sector while both nonresidential building and housing settled back. Through the first 10 months of 2012, total construction
The U.S. green building market continues to accelerate, according to McGraw-Hill Construction’s recently released “2013 Dodge Construction Green Outlook” report. The value of green building has seen growth from $10 billion in 2005 to $78 billion in 2011. In 2012, the total market — non-residential and residential — is expected to be worth $85 billion, and by 2013, overall new green building is projected to rise to between $98 billion and $106 billion. By 2016, this number is expected to reach $204 billion to $248 billion, according to McGraw-Hill Construction, which is also the owner and publisher of ENR Mountain
According to a new study by McGraw-Hill Construction, publisher of ENR Mountain States, both K-12 and universities plan to continue investments in green schools, citing financial and social benefits. The “New & Retrofit Green Schools” study shows social benefits such as improved health and productivity, are critical drivers for the education sector and equally as important as financial drivers. “Over 75% of respondents consider improving indoor air quality and enhancing health and well-being as key drivers, which is nearly the same percentage that cite financial benefits, such as lower operating costs and reduced energy use,” said Harvey Bernstein, vice president, Industry
John Michael Stroud STROUDwas promoted to president of J.B. Henderson Construction Co. in Albuquerque. He has been with the company for 24 years, first as a laborer and pipefitter, then moving up to estimator and project manager. Most recently, Stroud was the firm's Rio Rancho area manager. He holds a bachelor's degree from the University of New Mexico. He has served as project manager on key projects including UNM's Pete and Nancy Domenici Hall and buildings for Los Alamos National Laboratory. Related Links: ENR Southwest Current Issue of ENR Southwest Ray Moyers and Rick Jay have joined Johnson Carlier as
Construction employers added 17,000 jobs in October while the industry’s unemployment rate fell to 11.4%, according to an analysis of new federal data recently released by the Associated General Contractors of America. Association officials noted that total construction employment levels have changed little during the past year while the declines in the industry’s unemployment rate are coming as more former workers leave the industry. “Despite five consecutive months of construction employment gains, the overall employment picture is essentially unchanged from a year ago,” said Ken Simonson, the association's chief economist. “Construction employment appears stuck in a state of mild monthly
Construction spending in September climbed to a nearly three-year high at an annualized rate of $852 billion, as increased spending on houses, apartments and private nonresidential projects outweighed a continuing downturn in public construction, according to an analysis of new federal data recently released by the Associated General Contractors of America. Association officials said they expect both the public and private trends to continue despite the disruption caused by Hurricane Sandy. “It is heartening to see the growth in total spending, but the progress remains fragile and fragmentary,” said Ken Simonson, the association’s chief economist, noting that construction spending had
The Colorado Dept. of Transportation has started the design for various improvements to the North I-25 corridor. The improvements will be comprised of smaller projects that make up Phase 1 of the record of decision for the North I-25 Environmental Impact Statement signed on December 29 by the Federal Highway Administration. The study analyzed potential transportation improvements along the I-25 corridor between Fort Collins/Wellington and downtown Denver, as well as along U.S. 85 and U.S. 287. “The design phase for the North I-25 Reconstruction project is the next step in planning for an effective multi-modal transportation system that is greatly
Editor’s Note: Past “Construction Law Briefs” have published four separate columns dealing with Colorado law on the question of whether defective construction is covered under comprehensive general liability (CGL) insurance policies carried by most contractors and subcontractors. The column has addressed previous Colorado court decisions and the Colorado statute passed in 2010 that was designed to overrule an earlier Colorado Court of Appeals decision. In the latest of those columns, coverage for defective construction was generally left unanswered. However, on October 25, the Colorado Court of Appeals rendered a decision that may answer the question—but not entirely.In the October 2012
The Center for Character and Leadership Development (CCLD), a new building on the campus of the U.S. Air Force Academy, broke ground in mid-October. Designed by Skidmore, Owings & Merrill LLP (SOM), the CCLD is the first new building since 1981 to be erected on the terrazzo (the central square) of Air Force Academy’s campus, which was designed by SOM in 1954 and designated a National Historic Landmark District in 2004. Construction on the CCLD will be complete in early summer 2014. “The CCLD asserts itself as a 21st-Century campus icon, while also deferring to the discipline and rigor of
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