NATIONAL (Jan. 27, 2020)—Nonresidential construction spending on buildings is projected to grow by just 1.5% through 2020, and less than a 1% increase in 2021, according to a new consensus forecast from The American Institute of Architects (AIA).

Does your company offer work in New York? If it doesn't currently, you might want to consider it. There's potentially a wealth of opportunity in the next few years for infrastructure contractors, thanks to New York Governor Andrew Cuomo.

McDermott International, an energy contractor headquartered in Houston, Texas, announced in a press release this week that it is filing for a Chapter 11 bankruptcy as part of a restructuring strategy.

The plan includes the sale of its asset, Lummus Technology, to The Chatterjee Group and Rhône Group for $2.7 billion. The sale must be approved by a bankruptcy judge through an auction process, though.