New AI Resource Guide Available for Contractors

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Associated Builders and Contractors has released an artificial intelligence technology guide for the construction community, which includes definitions, construction use cases and considerations. The purpose of the guide is to provide a level of knowledge to ensure contractors can be active participants in the construction AI conversation. The guide describes uses of AI during the construction project lifecycle, including preconstruction, construction and building maintenance. It also provides definitions of terms, such as deep learning and predictive AI, as well as best practices in drafting office AI policies. “The possibilities of AI technology may sound endless, but we must first educate … Read more

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ABC Announces 2024 Top-Performing US Construction Contractors

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Associated Builders and Contractors has released its 2024 Top Performers lists that recognize its contractor members’ outstanding achievements in safety, quality, inclusion, project excellence and special designations ranked by number of hours worked. The No. 1 2024 ABC Top Performer by work hours is Turner Industries Group LLC, Baton Rouge, Louisiana; followed by Skanska Building Inc., Franklin, Tennessee; BL Harbert International, Birmingham, Alabama; Brown & Root Industrial Services, Baton Rouge, Louisiana and Performance Contractors, Baton Rouge. “These top contractors build the nation’s most enduring, innovative, high-quality construction projects, and their leadership teams and employees have thriving, growth-centric mindsets, strategic plans … Read more

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ABC: Nonresidential Construction Spending Falls Sharply in January

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National nonresidential construction spending decreased 0.4% in January, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.190 trillion. Spending was down on a monthly basis in 10 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.1%, while public nonresidential construction spending was down 1.0% in January. Healthcare construction decreased slightly from December to January, spending overall in this sector is up 13% from last January. “Despite January’s disappointing data, nonresidential construction spending is still up more than 17% over the past year,” … Read more

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2024 Construction Workforce Shortage Tops Half Million, Says ABC

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The construction industry will need to attract an estimated 501,000 additional workers on top of the normal pace of hiring in 2024 to meet the demand for labor, according to a proprietary model developed by Associated Builders and Contractors. In 2025, the industry will need to bring in nearly 454,000 new workers on top of normal hiring to meet industry demand, and that’s presuming that construction spending growth slows significantly next year. “ABC estimates that the U.S. construction industry needs to attract about a half-million new workers in 2024 to balance supply and demand,” said Michael Bellaman, ABC president and … Read more

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ABC: Monthly Construction Input Prices Surge 1%

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Construction input prices increased 1% in January compared to the previous month, according to an Associated Builders and Contractors’ analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 0.9% for the month. Overall construction input prices are 0.4% higher than a year ago, while nonresidential construction materials prices are 0.7% higher. Prices increased in 2 of the 3 energy subcategories last month. Crude petroleum input prices were up 6.1%, while unprocessed energy materials prices were up 3.8%. Natural gas prices decreased 2.4% in January. “Construction materials prices surged in January, ending a … Read more

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