Building Costs Increases Slow in the First Quarter of 2023

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Turner Construction Company has released its First Quarter 2023 Turner Building Cost Index — which measures costs in the nonresidential building construction market in the United States — had increased to the value of 1349. This represents a 1.28% quarterly increase from the fourth quarter 2022 and a 7.49% yearly increase from the first quarter 2022. The building costs and price trends tracked by the index may or may not reflect regional conditions in any given quarter. The cost index is determined by several factors considered on a nationwide basis, including labor rates and productivity, material prices and the competitive … Read more

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Bobcat Prototype Arrives at NIHF Museum

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A legendary piece of construction history arrived April 19 at the National Inventors Hall of Fame Museum in Alexandria, Virginia. Joe Keller, the son of 2023 National Inventors Hall of Fame Inductee Louis Keller and nephew of Inductee Cyril Keller, was on a cross-country trip with the Keller brothers’ invention — a 1958 prototype skid-steer loader. Keller brought the loader to the museum, where the prototype will be part of an exhibit at the National Inventors Hall of Fame Museum honoring the 2023 Class of Inductees, who will be recognized in October during NIHF’s 50th anniversary Induction Ceremony. Photo credit: … Read more

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ACPA’s Safety Campaign Microsite Wins Hermes Creative Award

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The American Concrete Pumping Association has announced that WeAreSaferTogether.org has been recognized with a Gold Award by the Hermes 2023 Creative Awards. Marketing consultant and association management services firm AOE worked with the ACPA to develop the microsite as a key component of a safety campaign that brings heightened awareness of ASME B30.27, the safety standard for material placement systems, to concrete pumpers and contractors. The campaign highlights the responsibilities of each trade working with or around a concrete pump under the standard, with the ultimate goal of keeping every person on a jobsite safe. The microsite serves as an … Read more

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National Science Foundation Awards Research Funding to Advance Performance-Based Fire Design for Cold-Formed Steel Structures

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A research project progressing from the American Iron and Steel Institute’s Small Project/Fellowship Program has received significant funding through the National Science Foundation to advance performance-based fire design for cold-formed steel structures. Thomas Gernay, Ph.D., assistant professor in the Department of Civil and Systems Engineering at Johns Hopkins University, was named a recipient of the NSF’s Faculty Early Career Development Award for nearly $580,000 over five years. The award will enable research to develop an advanced science-based framework for assessing the fire performance of cold-formed steel structures that results in more accurate modeling to ensure increased public safety, resource efficiency … Read more

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Market Report Reveals $97B in Additional Material, Labor Costs for Subcontractors in 2022

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Billd has released its third-annual construction industry market report, the 2023 National Subcontractor Market Report: $97 Billion in Extra Weight on the Shoulders of America’s Subcontractors. Billd surveyed nearly 900 commercial construction professionals across the country, largely consisting of business owners and executives. The report indicates that subcontractors continued to bear the brunt of rising input costs for materials and labor in 2022 to the tune of $97 billion in unplanned expenses. Rising material costs and price volatility are not new issues for subcontractors, with 81% of those surveyed reporting a negative effect on their businesses in 2022; 80% expect that trend to continue. It is … Read more

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