Welcome to our Construction Industry News page, where we bring you the latest updates on mergers and acquisitions, key new hires, and significant industry shifts. Stay informed with breaking news and in-depth reporting to keep up with the fast-paced changes shaping the construction business.
WASHINGTON (November 25, 2013) — The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $827 billion equipment finance sector, showed their overall new business volume for October was $7.6 billion, unchanged from new business volume in October 2012.
(November 22, 2013) - Construction employment increased in 39 states during the past 12 months, the most widespread gains since April 2012, according to an analysis today by the Associated General Contractors of America of Labor Department data. Association officials said action on needed infrastructure investments for water and transportation projects would help support continued employment growth for the industry.
PHILADELPHIA (November 20, 2013) — The U.S. Green Building Council (USGBC) announced that LEED v4, the newest version of the LEED green building program, launched at the annual Greenbuild International Conference and Expo in Philadelphia on Nov. 20. LEED has been a benchmark for the design, construction and operation of high-performance green buildings since 1998.
WASHINGTON (November 20, 2013) – The U.S. Environmental Protection Agency (EPA) has made available $2 million in funding for rebates to help public and private construction equipment owners replace or retrofit older diesel construction engines. The rebates will reduce harmful pollution and improve air quality in local areas.
WASHINGTON (November 19, 2013) – Associated Builders and Contractors (ABC) filed a request for an injunction in the U.S. District Court for the District of Columbia against an Aug. 27 rule from the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) that drastically alters federal contractors’ existing affirmative action and nondiscrimination obligations for individuals with disabilities.
NEW YORK (November 19, 2013) – A spike in construction-related fatalities coupled with a looming labor shortage highlight the need for a renewed focus on safety and leadership within the construction industry, Marsh said in a new report. According to the U.S. Bureau of Labor Statistics (BLS), private construction sector deaths in the U.S. increased 5 percent to 775 in 2012, marking the first annual increase in work-related fatalities since 2006.
CHICAGO (November 15, 2013) - The National Geospatial-Intelligence Agency (NGA) in Springfield, Va., has earned national recognition in the 2013 Innovative Design in Engineering and Architecture with Structural Steel awards program (IDEAS2). In honor of this achievement, members of the project team will be presented with awards from the American Institute of Steel Construction (AISC) during a ceremony at the project site on Nov. 19.
NEW YORK (November 15, 2013) - U.S. construction firms on average paid more for their insurance in the first half of 2013 as underwriters continue to seek price increases across the breadth of their contractor portfolios, according to a report published by Marsh.
RALEIGH, N.C. (November 15, 2013) – FMI, a provider of management consulting and investment banking* to the engineering and construction industry, announces the release of its 2013 U.S. Construction Industry Talent Development Report. The report is based on responses nationwide from a mix of general contractors and construction managers at firms of all sizes and specialties, including mechanical/plumbing and heavy/highway/civil.
NORCROSS, Ga. (November 14, 2013) – Hyundai Heavy Industries Group, Hyundai Construction Equipment’s parent company, recently made a donation of $200,000 via the Korean Red Cross in the wake of Typhoon Haiyan, which caused catastrophic damage to the Philippines.
The company also dispatched a 21-ton class excavator, a backhoe loader and experienced operators to the area to assist in recovery efforts.
WASHINGTON (November 12, 2013) — The U.S. Green Building Council (USGBC) announced the LEED Fellows Class of 2013. The LEED Fellows program recognizes exceptional contributions to the green building community as well as significant achievements within a growing community of LEED Professionals.
(November 8, 2013) - Construction employment hit a 50-month high as employers added 11,000 jobs in October, the fifth consecutive month of sector job gains, and the industry unemployment rate fell to 9 percent, according to an analysis of new government data by the Associated General Contractors of America.
RALEIGH, N.C. (November 7, 2013) — FMI, a provider of management consulting and investment banking* to the engineering and construction industry, announced the release of its 2014 U.S. Markets Construction Overview. With construction put in place at the end of 2013 expected to be at $909.6 billion, researchers at FMI predict CPIP growth rates to be slightly ahead of the GDP in 2014.
Other predictions include the following:
SEOUL, South Korea (November 6, 2013) - Doosan announced that Scott Park has been appointed president and CEO of Doosan Infracore Construction Equipment (DICE), replacing Tony Helsham, who will retire in February.
WAUKESHA, Wis.-(Nov. 1, 2013) - Generac Holdings Inc., a leading designer and manufacturer of generators and other engine powered products, announced the closing of the purchase agreement with Baldor Electric Company (“Baldor”), a wholly-owned subsidiary of ABB Group, to acquire substantially all of the assets of Baldor’s generator products division (“Baldor Generators”).
The Association of Equipment Manufacturers (AEM) announces the 2013 inductees into the AEM Hall of Fame, which recognizes and celebrates outstanding individuals in the off-road equipment industry, and their legacy of innovation, service and leadership.
MOLINE, Ill. (November 4, 2013) - Total equipment rental revenue in North America for 2013 is expected to reach $38.0 billion, according to the latest figures released by the American Rental Association (ARA) from its ARA Rental Market Monitor service updated in late October. This figure represents a 6.2 percent increase over 2012 with fourth quarter revenue growth projected to be 7.1 percent.
MOLINE, Ill.(October 31, 2013) - Congressman Charles Boustany (R-LA) and Congressman Ami Bera (D-CA) introduced legislation Oct. 30 that would provide relief across the country by delaying the health insurance tax (HIT) scheduled to begin Jan. 1, 2014.
RALEIGH, N.C. (October 28, 2013) – FMI, a leading provider of management consulting and investment banking* to the engineering and construction industry, announces the release of its 2013 study on prefabrication and modularization in construction. The report is based on the survey results from construction managers, general contractors, as well as electrical and mechanical contractors.
CHICAGO (October 29, 2013) - Barclays Center in Brooklyn, N.Y., has earned national recognition in the 2013 Innovative Design in Engineering and Architecture with Structural Steel awards program (IDEAS2). In honor of this achievement, members of the project team will be presented with awards from the American Institute of Steel Construction (AISC) during a ceremony at the project site on Oct. 30 at noon.
