The Utah Chapter of the Associated General Contractors held its 93rd annual convention Jan. 22-24 in Salt Lake City, with praise for members’ past work and an eye on building the state’s future. Transportation funding and the $1-billion-plus construction of a new state prison loom large in the annual session of the Utah state legislature, which began Jan. 26. Photo by Brian Fryer Executive Director for the Governor's Office of Economic Development Val Hale addresses attendees during opening day of the 2015 AGC of Utah convention. Utah Chapter 2014 Chairman Doug Watts sits to Hale's right, along with economist Natalie
Construction input prices dipped 1.4% during the final month of 2014 and are down nearly 1% on a year-over-year basis, according to the Jan. 15 producer price index release from the U.S. Dept. of Labor. Inputs to nonresidential construction fell even farther, down 1.7% for the month and 1.9% year over year. December’s report marks the sharpest decline in input prices since late 2008 during the global financial crisis and the fifth consecutive month construction materials prices have failed to rise.“Without question, financial markets have been unnerved by the recent declines in oil, copper and other commodity prices, although that
The Conference Board Consumer Confidence Index, which had increased in December, rose sharply in January. The index now stands at 102.9 (1985=100), up from 93.1 in December. The Present Situation Index rose to 112.6 from 99.9, while the Expectations Index increased to 96.4 from 88.5 in December. Consumers’ assessment of present-day conditions was considerably more favorable in January than in December. Those saying business conditions are “good” increased from 24.7% to 28.1% while those claiming business conditions are “bad” decreased from 18.9% to 16.8%.Consumers were also much more positive in their assessment of the job market. Those stating jobs are
The U.S. construction industry added 48,000 jobs in December, including 22,800 jobs in nonresidential construction, according to the Bureau of Labor Statistics (BLS) preliminary estimate released on Jan. 9. November’s estimate was unchanged in the release, remaining at 20,000 net new construction jobs, but nonresidential construction’s November jobs figure was upwardly revised to 7,100 jobs. “The U.S. economy added an average of 289,000 jobs per month during the final three months of 2014, indicating that momentum is surging as we transition into 2015,” said Associated Builders and Contractors Chief Economist Anirban Basu.“This represents good news for the construction industry in
Lakewood-based Red Rocks Community College has landed a $1-million grant to expand its Arvada campus. The grant was made by Community First Foundation, a 40-year-old foundation that aims to improve the quality of life and create positive change. Renderings courtesy of RRCC The new Arvada Health Professions and Science Building will cluster all of the college's health-professionals programs into one place. The money will go toward building the Arvada Health Professions and Science Building. It is the largest private gift in the college’s $22.5-million campaign to triple the size of the Arvada campus. It is also one of the largest
Associated Builders and Contractors Rocky Mountain Chapter held its annual Chapter Awards dinner and board of directors installation on Jan. 15 at the Denver Marriott City Center. Around 110 ABC members and guests were in attendance for the event. Photo courtesy of ABC Rocky Mountain Chapter Jeff Erker (left) of FCI Constructors Inc. accepts the ABCer of the Year award from previous years winner Scott Oglesby of Bauerle and Co. Chapter Awards are presented to leaders within the commercial construction industry who have shown outstanding commitment and dedication to the chapter, industry, and the merit shop philosophy through their participation
In 2015 the construction industry faces the aftermath of the recent recession, during which many experienced construction professionals moved to other industries. As construction demand bounces back and increases its need for competent, long-term employees, both general contractors and subcontractors must find ways to attract and retain people to fill key executive-level positions. One method for doing so is to introduce an incentive compensation plan, which can motivate employees to adopt ownership thinking, resulting in strategic actions and decision-making that lead to business growth. This is especially true for companies experiencing or preparing for a transition, which might include a
New construction starts in December retreated 16% to a seasonally adjusted annual rate of $568.2 billion, according to Dodge Data & Analytics. The decline follows the 13% increase reported for total construction starts in November, when activity reached its highest level in 2014, with the lift coming from several exceptionally large projects. Those included a massive lithium ion battery manufacturing plant, an airport terminal redevelopment program and a liquefied natural gas terminal.Both nonresidential building and nonbuilding construction in December witnessed substantial percentage declines relative to their robust November amounts. At the same time, residential building managed a modest gain in
Fox Business News’ “Money with Melissa Francis” erroneously reported recently that federal gas taxes can be used to finance the construction of museums and other non-transportation projects, officials with the Associated General Contractors noted in a letter sent to the show’s host in late January. Association officials added that the error is significant because it incorrectly leaves viewers with the impression that some portion of the federal gas taxes they pay are being wasted on projects that do nothing to improve the safety and reliability of their commutes, when in fact the opposite is true.“We understand that you and some
Eighty percent of construction firms plan to expand their payrolls in 2015 while only 7% expect to reduce headcounts according to survey results released in late January by the Associated General Contractors of America. The survey, conducted as part of “Ready to Hire Again: The 2015 Construction Industry Hiring and Business Outlook,” indicates that most contractors are optimistic about the year ahead and ready to expand but will have to cope with challenges, including worker shortages and regulatory burdens. “Contractors are extremely optimistic about the outlook for 2015,” said Stephen E. Sandherr, the association’s chief executive officer. “Indeed, if their
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