New Construction in U.S. Expected to Grow 6.5% This Year

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ATLANTA, Ga. – Construction starts in the United States are expected to increase 6.5 percent and total more than $560 billion in the coming year, according to CMD’s latest quarterly forecast report. An overall recovering economy, including wage and employment growth, increased state and federal spending on infrastructure projects and an improved investment outlook in nonresidential construction are contributing to the forecast. The report, which combines CMD’s proprietary data with macroeconomic factors and Oxford Economics econometric expertise, shows year-end growth came in slightly below expectation. A weaker fourth quarter depressed construction activity, leading to total construction starts growth of 3.7 … Read more

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Construction Firms Add 18,000 Workers in January, Unemployment Falls to 17-Year Low

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Construction firms added 18,000 workers in January, as the industry’s unemployment rate declined to a 17-year low of 8.5 percent, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that the number of construction jobs added in January was down compared to the last three months of 2015 and could reflect either a slowdown in nonresidential construction activity or an inability of contractors to find qualified workers. “While the construction industry continues to add jobs, the January figures mark a significant decline in the rate of growth compared to the end … Read more

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USGBC, Dodge Release World Green Building Trends Report 2016

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WASHINGTON, D.C. – The U.S. Green Building Council and Dodge Data & Analytics partnered to release World Green Building Trends 2016 SmartMarket Report. The new report, conducted in nearly 70 countries, demonstrates that global green building continues to double every three years. The report also finds emerging economies like Brazil, India, Saudi Arabia and South Africa will be engines of green growth, with development varying from two-fold to six-fold over current green building levels. “International demand for green building, due in great part to the LEED green building program’s global popularity, has grown steadily over the years,” said Rick Fedrizzi, … Read more

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Liberty Center Completed On Time, On Budget

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BIRMINGHAM, Ala. – After an intense and compressed 18-month construction schedule, Hoar Construction completed the $146-million Liberty Center, a high-end mixed-use development that includes apartments, office space, retail and dining options off I-75 between Cincinnati and Dayton, Ohio. The 1.1-million-square-foot project has 600,000 square feet of retail space, including Dillards and Dicks’ Sporting Goods department stores, many specialty retailers such as Forever 21 and restaurants including Kona Grill. The development includes 100,000 square feet of Class A office space, a 130-room AC Hotel by Marriott, 220 luxury residential multifamily units and a 60,000-square-foot 14-screen movie theater featuring upscale dining. Liberty … Read more

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Construction Spending Forecast at 9.7 Percent Growth in 2016

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PROVIDENCE, R.I. – Gilbane Building Company has released its winter economic report: Building for the Future Construction Economics: Market Conditions in Construction, which provides an overview of 2015-2016 trends that impact growth, spending and the labor market that shape the construction industry. The report shows that this may end up the most active three-year period of growth in construction in more than 20 years, having been ongoing since 2013-2014 periods. With the forecast for 2016 taken into account, spending growth could reach a new three-year high. For those expecting growth, the nonresidential buildings construction boom could become an historic expansion. … Read more

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