U.S. Commercial Construction Index Finds High Optimism

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WASHINGTON, D.C. – Commercial construction is in high demand across the country and contractors remain optimistic about the current and forward-looking health of the sector, according to the Q3 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index (‘Index’), released recently. Nearly all contractors surveyed this summer (95 percent) expect revenues to grow or remain stable over the next 12 months compared to the prior 12 months, nearly the same percentage as in the Q2 2017 survey. Most contractors (93 percent) also expect to see profit margins stay the same or increase in the next 12 months, reflecting healthy … Read more

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Inaugural ‘Commercial Construction Index’ Indicates High Revenue, Employment Expectations for 2017

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WASHINGTON, D.C. — Commercial construction is in high demand across the country and contractors are confident in the trajectory of the industry, according to the USG + U.S. Chamber of Commerce Commercial Construction Index recently launched. Nearly all contractors surveyed – 96 percent – expect revenues to grow or remain stable this year compared to 2016, with 40 percent expecting an increase and only 3 percent expecting a decrease in revenue. The index is a new quarterly economic indicator designed to gauge what drives the commercial construction industry and its leaders, including specific issues like backlog of work, new business … Read more

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Using Drones on Projects

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Navigating the new drone rules By David R. Cook and Chadd L. Reynolds In recent years, construction contractors and subcontractors have taken advantage of small unmanned aerial vehicles, commonly referred to as drones, in the planning, design and construction of projects. By attaching a camera to a small, lightweight drone, construction companies can mitigate the safety risks and costs posed by current methods used to monitor, inspect and evaluate construction. Although the rules for the use of drones in a commercial setting are ambiguous and undeveloped, newly published rules will provide a clearer regulatory framework for construction companies desiring to … Read more

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Retail Innovation, Renovation Drive Construction Growth in 2016

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CHICAGO, Ill. — A strong retail sector has helped drive 2016 U.S. construction activity with retail construction projects up 24.4 percent year-over-year. But overshadowing the good news is a cloud of economic uncertainty that has companies laser-focused on Lean budgeting and smart spending decisions. According to JLL’s latest report on nonresidential construction activity, U.S. construction employment grew 4.7 percent in the first quarter of 2016 over the first quarter of 2015, with many workers engaged on retail projects. Concerns about China’s steep economic deceleration, combined with a drop in U.S. gross domestic product from 1.4 percent in the fourth quarter … Read more

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Skanska Awarded $94-M Construction Contract for Irving Music Factory

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Skanska has signed a contract with the ARK Group to build the Irving Music Factory in Las Colinas, Texas and will include $94 million in order bookings for Skanska USA in the first quarter 2016. Skanska will convert the 16.8-acre greenfield site into a world-class entertainment destination. It will include an 8,000-seating capacity indoor/outdoor concert hall called the Pavillion, operated by the world’s largest concert promoter, Live Nation. The venue includes seven buildings offering more than 250,000 square feet of entertainment, retail and restaurant space and an eight-screen Alamo Drafthouse Cinema. Additionally, there will be a four-story,100,000-square-foot office tower sitting … Read more

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