FMI Predicts 2015 U.S. Construction Put in Place Will Reach $1.04 Trillion

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RALEIGH, N.C. — FMI announces the release of its 2015 U.S. Markets Construction Overview. FMI researchers predict 2014 will end with approximately 7 percent growth in construction put in place. This rate of growth is expected to continue with a total CPIP of $1.04 trillion in 2015. The overview consists of three sections: a synopsis of the key energy market trends impacting the construction industry, industry sector challenges and a detailed economic forecast. A few highlights: The oil and gas industry in North America is driving growth in the industrial market, but could be draining talent and resources from other … Read more

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Construction Firms Add 20,000 Jobs Last Month

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Construction industry employment hit a new five-year high in November as the sector added 20,000 jobs and its unemployment rate fell to 7.5 percent, the lowest rate for November in seven years, according to an analysis by the Associated General Contractors of America. Association officials cautioned, however, that the latest figures include signs that demand for public-sector and non-residential construction may be weakening. “November was another good month overall for construction workers and businesses,” said Ken Simonson, the association’s chief economist. “Yet the recent declines in public works and nonresidential building construction employment may indicate some underlying weakness in the … Read more

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Dodge Momentum Index Moves Higher in November

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NEW YORK, N.Y. — The Dodge Momentum Index increased in November, climbing to 125.0 (2000=100) for the month, up 0.6 percent from October’s reading of 124.3 according to Dodge Data & Analytics. The momentum index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. After retreating from July through September, the momentum index has now registered gains for two consecutive months, indicating that the nonresidential building market continues to trend upward even with the occasional setback. The momentum … Read more

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Using Prefab in Construction of New Denver Hospital Saves $4.3M

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Using prefabricated elements in the construction of the new Saint Joseph Hospital in Denver, Colorado, cut 72 workdays off the construction schedule and resulted in $4.3 million in savings, according to a study by University of Colorado Boulder engineers. The study, by Matthew Morris and doctoral student Eric Antillon, both of the Department of Civil, Environmental and Architectural Engineering, is one of the first to try and quantify the full costs and benefits of using prefabricated elements in a large-scale construction project. The study was done in partnership with Mortenson construction, which built the new 831,000-square-foot Saint Joseph Hospital. Developers … Read more

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Construction Complete on Patient Tower at St. Jude Medical Center

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FULLERTON, Calif. — The design-build team of Petra Integrated Construction Strategies, McCarthy Building Companies, Inc. and Taylor Design recently completed construction of the St. Jude Medical Center Northwest Tower in Fullerton, California. The new $228-million (construction cost) healthcare facility, which opened in November 2014, was completed five months early and more than 10 percent under the original construction budget. Located on the northern side of the St. Jude Medical Center campus at Bastanchury Road and Harbor Boulevard, the new tower replaces an existing tower and meets California’s strict seismic requirements for both the structure, as well as its contents. An … Read more

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