Equipment Leasing and Finance Association Announces Top 10 Equipment Acquisition Trends for 2022

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The Equipment Leasing and Finance Association, which represents the nearly $1 trillion equipment finance sector, revealed its Top 10 Equipment Acquisition Trends for 2022. Real private investment by U.S. businesses in equipment and software is forecast to be almost $2 trillion in 2022, with a substantial amount of that investment activity financed, so these trends impact a significant portion of the U.S. economy. ELFA President and CEO Ralph Petta said, “The pandemic is the underlying theme throughout the trends this year as equipment acquisition continues to drive supply chains across all U.S. manufacturing and service sectors. Nearly eight in 10 … Read more

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Governor Hochul Signs Construction Industry Public Contracting Advisory Council Bill into Law

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The Construction Industry Public Contracting Advisory Council bill (Ch. 782, Laws of 2021) has been signed into law by New York State Governor Kathy Hochul. The new law will set in motion the process to reform the public works contracting process for construction contractors and subcontractors across New York state. The new law brings together state legislators, regulators, construction contractors and subcontractors, labor and other stakeholders for the first-time ever and they will form a 23-member temporary Construction Industry Advisory Council on Public Contracting Reform. Its objective is to analyze the many vexing contractual issues that negatively impact contractors and … Read more

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Nonresidential Construction Spending Projected to Increase through 2023

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According to a new report from the American Institute of Architects, the nonresidential building sector is expected to see a healthy rebound through next year after failing to recover with the broader economy last year. The AIA’s Consensus Construction Forecast panel—comprising leading economic forecasters—expects spending on nonresidential building construction to increase by 5.4% in 2022, and accelerate to an additional 6.1% increase in 2023. With a 5% decline in construction spending on buildings last year, only retail and other commercial, industrial and healthcare facilities managed spending increases. This year, only the hotel, religious and public safety sectors are expected to … Read more

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U.S. Department of Labor Seeks Nominations for Employee Representative on Advisory Committee on Construction Safety and Health

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The U.S. Department of Labor’s Occupational Safety and Health Administration is requesting nominations to fill one vacant employee representative position on the Advisory Committee on Construction Safety and Health. The 15-member group advises the Secretary of Labor and Assistant Secretary of Labor for Occupational Safety and Health on developing standards and policies affecting the construction industry. Committee members represent employees, employers, state safety and health agencies and the public. Members generally serve two-year staggered terms, except the representative designated by the Department of Health and Human Services and appointed by the Secretary of Labor, who serves indefinitely. Submit nominations electronically … Read more

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Build-to-Suit Facilities for Northrop Grumman under Construction

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Two build-to-suit facilities leased by Northrop Grumman, one of the largest defense contractors in the world, are under construction in Huntsville, Alabama. The project team includes general contractor Robins & Morton, Corporate Office Properties Trust and Powers Brown Architecture. The two buildings, located in Huntsville’s Redstone Gateway development, total 236,000 square feet and stand five stories tall. Construction began in February 2021. The buildings are primarily concrete structures, built using a tilt-wall process. Robins & Morton poured, then erected, 76 concrete panels earlier this fall to assemble the building’s exterior structure. The team used a 1.9 million pound crane to … Read more

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