The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during March 2015 was estimated at a seasonally adjusted annual rate of $966.6 billion, 0.6 percent ( ±1.3 percent)* below the revised February estimate of $972.9 billion. The March figure is 2.0 percent ( ±1.6 percent) above the March 2014 estimate of $947.3 billion. During the first three months of this year, construction spending amounted to $206.7 billion, 3.2 percent ( ±1.5 percent) above the $200.4 billion for the same period in 2014. Private ConstructionSpending on private construction was at a seasonally adjusted annual rate of […]
Equipment Leasing & Finance Foundation Releases April 2015 EFI Survey Results
The Equipment Leasing & Finance Foundation recently released the April 2015 Monthly Confidence Index for the Equipment Finance Industry. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $903-billion equipment finance sector. Overall, confidence in the equipment finance market is 70.7, easing from the four-year high of 72.1 in March. When asked about the outlook for the future, MCI-EFI survey respondent Valerie Hayes Jester, president, Brandywine Capital Associates, Inc., said, “We have seen an increase in requests for equipment financing […]
Turner Launches Cloud-Based Platform to Document Diversion of Construction Waste
Turner Construction Company has implemented TurnerTracker, a new, cloud-based tool for tracking construction waste diverted from landfills. Turner formalized its commitment to sustainability in 2004, including establishing company-wide goals for diverting construction waste from landfills. Since then, the company has diverted a total of more than 2 million tons of construction material from landfills, or four times the weight of the world's tallest building, the Burj Khalifa. In 2014 alone, Turner projects reported a diversion rate of 91 percent, a total of more than 446,000 tons of recycled, re-used or salvaged material — enough to fill Yankee Stadium one and […]
Mortenson Signs Contract for Construction on the Shannon Wind Project
MINNEAPOLIS, Minn. — Mortenson Construction’s Wind Energy Group entered into a contract for construction of the Shannon Wind Project located near Windthorst, Texas, which is owned and managed by Alterra Power Corp. Alterra acquired the project from Horn Wind, LLC, a wind developer that has successfully developed two other wind projects in the region — both constructed by Mortenson. This will be the second wind farm Mortenson will construct with Alterra following the completion of the Dokie Wind Project located in Chetwynd, British Columbia, in 2011. Mortenson will be responsible for the construction of the access roads, foundations, turbine […]
Construction Firms Add 45K Jobs in April; Unemployed Workers Drop to 14-Year Low
Construction firms added 45,000 jobs in April and 280,000 over 12 months, as the sector’s unemployment rate fell to a nine-year April low of 7.5 percent, according to an analysis by the Associated General Contractors of America. Association officials noted that even as the industry continues to expand, growth has been erratic and inconsistent. “Construction employment resumed strong growth in April after slipping in March and is now growing at more than double the growth rate for total non-farm employment,” said Ken Simonson, the association’s chief economist. “Nevertheless, job growth remains spotty with the nonresidential building sector losing jobs even […]






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