Construction Processes, Financial
March 28, 2023
Via: Construction DiveThe delay follows warnings from construction industry experts on growing concerns around financing, especially following the closures of Silicon Valley Bank and Signature Bank a few weeks ago. Contractors can expect tightening and some tension from small and regional banks, […]
Construction Processes, Financial
March 27, 2023
Via: Construction DiveFor construction companies considering a transfer of ownership, succession planning is a powerful process with tools that can ensure a smooth transition. But even the best-laid plans can go awry if the company hasn’t included one of their most important […]
Construction Processes, Financial
March 24, 2023
Via: ENRThe initial congressional hearing on President Joe Biden’s 2024 budget proposal for the US Dept. of Transportation showed evidence of continued strong bipartisan support for infrastructure, though the parties differed on the specifics. Also at the March 23 Senate transportation […]
Construction Processes, Financial
March 16, 2023
Via: Construction DiveThe 2,505 full-time OSHA positions sought in the budget is 35% higher than fiscal year 2022 figures — which the text says reflect “actual” employment, as opposed to budgeted. But filling those positions is easier said than done. The long, […]
Construction Processes, Financial
March 14, 2023
Via: Construction DivePhoenix and Orlando, Florida, are expected to experience price inflation above 5% within the next six months to a year. Most other cities will see price inflation above normal — in the 3% to 5% range — and the report […]
Construction Processes, Financial
March 7, 2023
Via: Construction DiveLocal and state government contracts for highway, road and bridge projects dramatically increased between 2021 and 2022, a sign that bipartisan infrastructure funds are starting to have an impact, but contracts for rail and transit projects slowed significantly since the […]
Construction Processes, Financial
March 2, 2023
Via: Construction DiveSpending in the nonresidential sector continues to outpace inflation on a year-over-year basis, said Basu. That’s because of massive spending in the manufacturing sector. Manufacturing construction spending jumped 5.9% in January, reaching $139.78 billion. Meanwhile, transportation spending increased 1.7% in […]
Construction Processes, Financial
February 7, 2023
Via: ENRPhiladelphia’s recently launched water infrastructure revitalization plan is set to receive a $500-million boost in federal funding, including $340 million from a low-cost U.S. Environmental Protection Agency loan, officials announced Feb. 3. The city’s efforts are aimed at replacing miles […]
Construction Processes, Financial
January 31, 2023
Via: ENRThe Biden administration has picked nine high-profile surface transportation projects to share nearly $1.2 billion in Infrastructure Investment and Jobs Act grants, topped by a $292-million award for an early-phase element of a mammoth planned New York-New Jersey Hudson River […]
Construction Processes, Financial
January 30, 2023
Via: ENRMany construction and engineering companies are so focused on winning projects that they overlook the importance of managing plant and equipment cost-effectively. With sector margins tight, it’s a dangerous oversight. Chris Knight, Global Industry Director for Construction and Engineering at […]
Construction Processes, Financial
January 30, 2023
Via: ENRI was working for a general contractor on several fast-track student housing projects in the late 1990s to fill a need in the Boston area, especially on smaller campuses that had limited space. One fast-tracked campus apartment project I remember […]
Construction Processes, Financial
January 19, 2023
Via: ENRIn the latest chapter in a long-running controversy, 18 business organizations—including several in construction and related industries—have asked the Federal Highway Administration to cancel a controversial 2021 guidance document recommending how state departments of transportation should prioritize projects that draw […]
Construction Processes, Financial
January 10, 2023
Via: ENRThe request for qualifications didn’t exactly stir a frenzy of competition. A $265-million to $310-million design-build highway improvement project advertised by Washington State transportation officials in November and due early last month attracted only Guy F. Atkinson Construction and Walsh […]
Construction Processes, Financial
January 9, 2023
Via: Construction EuropeAverage hourly earnings for workers in production and non-supervisory roles increased to US$33.15 last month. That represented a jump of 6.1% on December 2021, according to analysis by the Association of General Contractors (AGC). The rise exceeded the 5% increase […]
Construction Processes, Financial
January 4, 2023
Via: ENRDistributing even more funds from the Infrastructure Investment and Jobs Act, the Biden administration has announced the award of $2.1 billion in grants for four major bridge projects through the statute’s competitive Bridge Investment Program. To announce the awards of […]
Construction Processes, Financial
December 14, 2022
Via: Construction DiveThe move illustrates the whipsaw cadence of construction since the beginning of the pandemic, when new projects have stumbled to get out of the gate due to supply chain and labor challenges but the demand to build has remained high. […]
Construction Processes, Financial
November 28, 2022
Via: Construction DiveIn the construction world, money talks but moves slowly. The average day’s sales outstanding (DSO) for the construction industry is 51 days, among the worst of any sector in the nation. While this issue has plagued the industry for decades, […]
Construction Processes, Financial
November 16, 2022
Via: Construction DiveConstruction payments firm Billd secured a $100 million debt facility to fund its subcontractor customers’ short-term cash flow needs, the company announced. The warehouse-lending finance structure was led by Philadelphia-based asset-backed securities investor LL Funds. On top of the debt […]
Construction Processes, Financial
October 31, 2022
Via: Construction DiveGeneral contractors have a lot on their plates: collaborating with clients, hiring subcontractors and managing tight project timelines, to name a few. But payment issues in construction tend to take center stage, even for the most proactive GCs. While each […]
Construction Processes, Financial
October 25, 2022
Via: Construction DiveNonresidential growth in New York City over the next three years will be driven by large investments in healthcare facilities and new offices, according to the report. Office valuations in New York City are forecasted to decline by as much […]