Nonresidential Construction Spending Dips in November

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Nonresidential construction spending fell 1 percent on a monthly basis in November, but has still managed to expand 4 percent on a year-over-year basis according to the recent release from the U.S. Census Bureau. Spending for the month totaled $617 billion on a seasonally adjusted, annualized basis. Moreover, the government revised the October spending figure up from $611.8 billion to $622.9 billion. “November’s drop in nonresidential construction spending ends four consecutive months of spending growth, but represents only a minor dip in the industry’s momentum,” said Associated Builders and Contractors Chief Economist Anirban Basu. “November’s figure would have represented a … Read more

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Construction Spending Declines in November, Reports AGC

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Construction spending edged down in November but outlays for the year remained on track for a modest increase over 2013 totals, according to a recent analysis by the Associated General Contractors of America. Association officials said the new spending figures come as the group’s members prepare a new push for action on a series of federal infrastructure programs, including funding for highway and transit upgrades and to maintain clean water systems across the country. “Today’s figures continue the seesaw pattern that has characterized residential, private nonresidential and public construction throughout 2014,” said Ken Simonson, the association’s chief economist. “Overall construction … Read more

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Bridgestone Americas Celebrates Groundbreaking for Headquarters in Downtown Nashville

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NASHVILLE, Tenn. — Bridgestone Americas, Inc., a subsidiary of Bridgestone Corporation, celebrated the groundbreaking for its new 30-story, more than $200-million headquarters to be located in the SoBro area of downtown Nashville, Tennessee. When completed in mid-to-late 2017, the new facility will house more than 1,700 employees — 1,100 in Nashville and 600 new jobs from three out-of-state business units being relocated to the city. Bridgestone has outgrown its current leased headquarters facility on Marriott Drive near Nashville International Airport. With its lease expiring in late 2017, the company launched an extensive search for a new headquarters location to support … Read more

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Construction Employment Increases as Demand Rebounds, Labor Shortages Cause Concern

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Construction employment expanded in 224 metro areas, declined in 64 and was stagnant in 51 between November 2013 and November 2014, according to a new analysis of federal employment data recently released by the Associated General Contractors of America. Association officials said contractors in many parts of the country were benefitting from growing demand, yet labor shortages threaten to undermine the sector’s recovery. “It is good news that construction employment is now rising in two-thirds of the nation’s metro areas,” said Ken Simonson, chief economist for the association. “But now that the unemployment rate for construction workers has fallen to … Read more

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Skanska Executes Unusual Concrete Pour

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In Miami, Florida, Skanska recently executed one of the world's most unusual concrete pours: creating a martini glass-shaped, 500,000-gallon seawater aquarium tank through a non-stop 25-hour, 1,200-cubic-yard placement. The stakes were very high for this aspect of Skanska's new $101-million Patricia and Phillip Frost Museum of Science project: The tank can"t have any cracks large enough to let water pass through, which essentially means no cracks at all, and certainly not any construction joints. When the science museum opens as expected in summer 2016, visitors will be able to walk below the suspended, conical tank and view sharks and other … Read more

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