The leaders of regional contracting firms say that 2014 is unfolding as part of a slow, steady recovery, despite a dip in revenue last year for most GCs. The ranking of top contractors in this issue is based on 2013 revenue, which was down for most area firms. Related Links: New Xactware HQ in Lehi Built for Efficiency CU Boulder Rec Center Upgrade Seeks LEED Platinum This year "is a little healthier than 2013, led by the industrial, health care and office markets," says Rob Moore, president of Big-D Construction Corp., Salt Lake City. "Generally speaking, we are in a
Nowadays, it seems that almost every business and profession has an LLC after its name. That’s intended to indicate a “limited liability company.” What most people don't seem to realize is that those three letters alone don’t always mean “limited liability.” The idea of a limited liability company is generally good. If properly organized and maintained, limited liability companies have some of the benefits of corporations and some of the benefits of partnerships. There may be income tax advantages; company members have almost unlimited ability to make their own rules governing the activities, and their personal liability to third parties
The Conference Board Consumer Confidence Index, which had increased in July, improved further in August. The Index now stands at 92.4 (1985=100), up from 90.3 in July. The Present Situation Index increased to 94.6 from 87.9, while the Expectations Index edged down to 90.9 from 91.9 in July. Consumers’ appraisal of current conditions continued to improve through August. Those saying business conditions are “good” edged up to 23.9% from 23.3%, while those claiming business conditions are “bad” declined to 21.5% from 22.8%. Consumers’ assessment of the job market was also more positive. Those stating jobs are “plentiful” increased to 18.2%
Construction employment expanded in 223 metro areas, declined in 72 and was stagnant in 44 between July 2013 and July 2014, according to a new analysis of federal employment data recently released by the Associated General Contractors of America. As employment grows, 25% of firms report labor shortages are forcing them to turn down work, according to a new survey conducted by SmartBrief, an industry leader in curated business news and custom content, in partnership with the association.“Many construction firms looking to expand their payrolls are finding a surprisingly tight labor market,” said Ken Simonson, the association's chief economist. “These
The Dodge Momentum Index erased the gains made over the last two months, falling 4.4% in July to 121.4 (2000=100). This marks the index’s first decline in four months, 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.While the Dodge Momentum Index stumbled in July, on a year-over-year basis it remains 16.5% higher than a year earlier. The July decline therefore may simply be
The last three months have shown steadily increasing demand for design services and the Architecture Billings Index (ABI) is now at its highest level since 2007. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the July ABI score was 55.8, up noticeably from a mark of 53.5 in June. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 66.0, following a very strong mark of 66.4 the
New construction starts in July climbed 6% to a seasonally adjusted annual rate of $588.8 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial. Nonresidential building continued to advance, supported by yet another robust month for manufacturing plant projects as well as improvement for commercial building. The nonbuilding construction sector (public works and electric utilities) also advanced, helped by the start of a large mass transit rail project. At the same time, residential building was unchanged from its pace in June. For the first seven months of 2014, total construction starts on an unadjusted basis were reported
New government data show the uneven nature of the construction industry’s recovery, as the sector added 22,000 jobs in July but suffered a pullback in spending in June, according to a recent analysis by the Associated General Contractors of America. “Construction employment and spending are both rising at a moderate year-over-year clip, but there have been some setbacks,” said Ken Simonson, the association’s chief economist. “While prospects for private construction remain largely favorable, inadequate public investment still threatens to keep too many workers idle.”Construction employment totaled 6,041,000 in July, the highest total since May 2009, while the industry’s unemployment rate
The Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) improved to 56.8 from 56.1 in July. The readings for the favorable and unfavorable factor indices improved, from 62.4 to 63.7 for the favorable factor index, marking the highest point in over four years, and from 52.0 to 52.2 for the unfavorable factor index. The latter is below marks set earlier in the year but is trending in direction. “The overall sense is that real progress in economic recovery is being made and the future looks brighter,” said NACM Economist Chris Kuehl, about the July CMI report.
The Aspen Art Museum reopened to the public on August 9 in a 24-hour-long celebration in its new building located downtown at Spring Street and Hyman Avenue. The museum, which attracts 35,000 visitors a year from around the world, had outgrown its old facility. Rendering by Shigeru Ban Architects/Cottle, Carr and Yaw Architects The museum features an iconic woven-wood exterior. Rendering by Shigeru Ban Architects/Cottle, Carr and Yaw Architects The museum's sweeping interior grand staircase. The $45-million, 33,000-sq-ft building, funded entirely by private donations, features a striking glass exterior screened in criss-crossed wooden strips to resemble a giant woven basket.
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