Your source for construction industry news in the Carolinas
National nonresidential construction spending decreased 0.2% in July, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.21 trillion. Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.4%,…
TEEL Construction, Inc. has named Ronnie Brouillard Vice President of Business Development. In his new role, Mr. Brouillard will serve on the company’s executive team and is charged with leading TEEL’s Business Development and Marketing departments. Mr. Brouillard brings over 40 years of commercial contracting experience in the Greater Washington Metropolitan. Throughout his career, he has held a variety of…
Lovett Industrial, a Houston-based real estate investment firm, recently closed on a 27.4-acre land site and is preparing to break ground on Durham Logistics Center, consisting of 351,030 square feet of Class-A industrial space in Durham, North Carolina. Situated at a prime location facing the intersection of I-85 and I-885 in Durham, North Carolina, the…
Why Do You Need a Geotechnical Report? Imagine this scenario: You find a great deal on a piece of land in a prime location and even have a potential tenant lined up. As you’re wrapping up your due diligence period, you are asked about a geotechnical report. You do some digging and find out it’s…
Marcum LLP, a leading advisory firm, released their 2024 Construction Survey that identifies critical industry trends amid economic uncertainty. Some broad trends are evident in this year’s survey of construction industry leaders. Some are all too familiar, such as the ongoing struggle to find and retain skilled labor. Others show new approaches or opinions in…
The Construction Industry Round Table (CIRT) and FMI recently released their CIRT Sentiment Index, 3rd Quarter 2024. The third quarter 2024 CIRT Sentiment Index declined, indicating respondents are less optimistic about future opportunities. The overall index score fell to 62.6 from 67.0 in the prior quarter. The third quarter Design Index also retreated, dropping to…
Carolinas AGC (CAGC) members and staff, along with Sen. Ross Turner (Greenville) and SCDOT Secretary Justin Powell, were excited to join Gov. Henry McMaster for a ceremonial bill signing of the recently passed Operation Work Zone Awareness legislation. This new law, requested by Carolinas AGC and sponsored by Sen. Turner and Rep. Gary Brewer, requires the Department of Motor Vehicles (DMV) to establish a construction…
Total construction starts moved 10% higher in July to a seasonally adjusted annual rate of $1.1 trillion, according to Dodge Construction Network. Nonresidential buildings and infrastructure starts performed strongly during the month, countering a decline in residential starts. During the month, nonresidential buildings rose 25% and infrastructure starts increased by 19%. Residential starts fell 8% during…
Construction input prices increased 0.4% in July compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices also increased 0.4% for the month. Overall construction input prices are 1.1% higher than a year ago, while nonresidential…
FMI recently released their 2024 third quarter Civil Infrastructure Construction Index (CICI). According to the management consulting firm, the CICI dropped almost six points in the second quarter, signaling a potential cool down in the civil infrastructure space. This quarter respondents said bid prices dropped while new competitors in their markets increased, indicating a tighter…
