Nonresidential Construction Spending Slips for Second Consecutive Month

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Nonresidential construction spending slipped 1 percent in September but has still managed to expand 4.2 percent on a year-over-year basis, according to the Nov. 1 release from the U.S. Census Bureau. Spending for the month totaled $596.1 billion on a seasonally adjusted, annualized basis while the government slightly revised the August spending figure from $603.7 billion to $601.9 billion. “September’s drop in nonresidential construction spending is disappointing given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators,” said Associated Builders and Contractor Chief Economist Anirban Basu. “Based on a combination … Read more

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Mortenson Construction Completes Windthorst II Wind Farm for OwnEnergy

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Windthorst II Wind Farm located in Windthorst, Texas, approximately 110 miles northwest of Dallas, was recently completed. OwnEnergy developed the project and, a fund managed by asset manager BlackRock, purchased a majority interest in the project in December 2013. Mortenson Construction was responsible for the engineering, procurement and construction of the project, including the erection of 28 2.4-MW Siemens turbines; foundations; underground collection; 69kv substation and access roads. Approximately 160 jobs were created throughout the course of construction. The Windthorst II project is the 26th wind facility the renewable energy contractor has built in the state out of a total … Read more

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PCL Construction Completes Tenant Improvements at UCLA Wasserman Building

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LOS ANGELES, Calif. —   PCL Construction and UCLA recently dedicated the Edie & Lew Wasserman Building, a new landmark research and patient-care facility at UCLA in Los Angeles, California.   Designed by Richard Meier and Partners Architects, the $115.6-million project was completed by Morley Builders (shell and core) and PCL Construction (interior build-out). The LEED Gold, six-story building completes a long-held vision for a trio of UCLA facilities—including the Jules Stein Eye Institute and the Doris Stein Eye Research Center—dedicated to restoring and preserving eyesight. PCL Construction’s work at UCLA’s Wasserman Building included 83,000 square feet of tenant improvements … Read more

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Employers Add Thousands of Jobs in October; Unemployment at 8-Year Low

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Construction employers added 12,000 jobs in October and the sector’s unemployment rate fell to 6.4 percent, the lowest rate for October since 2006, according to an analysis released by the Associated General Contractors of America. Association officials said the construction employment gains, along with rising wages and weekly hours, are consistent with survey results showing more firms are having a hard time finding enough qualified workers to fill available positions. Construction employment totaled 6.95 million in October, the highest total since May 2009, with a 12-month gain of 231,000 jobs or 3.9 percent, Ken Simonson, the association’s chief economist, noted. … Read more

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Construction Industry to Experience More Balanced Growth in 2015

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WASHINGTON, D.C. — Dodge Data & Analytics released its 2015 Dodge Construction Outlook. The report predicts that total U.S. construction starts for 2015 will rise 9 percent to $612 billion, a larger gain than the 5 percent increase to $564 billion estimated for 2014. “The construction expansion should become more broad based in 2015, with support coming from more sectors than was often the case in recent years,” said Robert Murray, chief economist and vice president for Dodge Data & Analytics. “The economic environment going forward carries several positives that will help to further lift total construction starts. Financing for … Read more

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