Category: Financial

March 28, 2023

The 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, […]

March 27, 2023

For 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 […]

March 24, 2023

The 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 […]

March 16, 2023

The 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, […]

March 14, 2023

Phoenix 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 […]

March 7, 2023

Local 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 […]

March 2, 2023

Spending 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 […]

February 7, 2023

Philadelphia’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 […]

January 31, 2023

The 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 […]

January 30, 2023

Many 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 […]

January 30, 2023

I 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 […]

January 19, 2023

In 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 […]

January 10, 2023

The 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 […]

January 9, 2023

Average 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 […]

January 4, 2023

Distributing 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 […]

December 14, 2022

The 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. […]

November 28, 2022

In 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, […]

November 16, 2022

Construction 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 […]

October 31, 2022

General 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 […]

October 25, 2022

Nonresidential 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 […]