Your source for construction industry news in the Carolinas
With online marketing, there’s a debate raging among experts over which strategy is best to grow your construction business. Would SEO or social media marketing be the better option? Often, construction businesses will hire an SEO expert or agency to increase their visibility in the search engines without even thinking about social media and the…
Average costs for U.S. employers that pay for their employees’ health care will increase 6.5 percent to more than $13,800 per employee in 2023, according to Aon (NYSE: AON), a leading global professional services firm. This projection is more than double the 3 percent increase to health care budgets which employers experienced from 2021 to 2022; but is…
Associated Builders and Contractors today released the following statement in response to the publication of a proposed rule, Federal Acquisition Regulation: Use of Project Labor Agreements for Federal Construction Projects, implementing President Biden’s Executive Order 14063, which requires federal construction contracts of $35 million or more to be subjected to controversial project labor agreements. “The Biden administration continues…
The Conference Board Leading Economic Index® (LEI) for the U.S. decreased by 0.4 percent in July 2022 to 116.6 (2016=100), after declining by 0.7 percent in June. The LEI was down by 1.6 percent over the six-month period from January to July 2022, a reversal from its 1.6 percent growth over the previous six months. “The US LEI declined for a…
The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, released the following statement in response to the release of new federal rules that will soon require procurement officials to impose project labor agreements for federal construction projects valued at $35 million or more: “Today’s proposed rules requiring procurement officials to impose project…
Total construction starts rose 48% in July to a seasonally adjusted annual rate of $1.36 trillion, according to Dodge Construction Network. This gain results from the start of three large manufacturing plants and two LNG export facilities. However, even without these projects, total construction starts would still have increased 7%. Nonresidential building starts rose 79% in…
The industrial real estate market showed signs of slowing after an unprecedented expansion, according to the latest NAIOP Industrial Space Demand Forecast, released today. According to the report, “amid lower pressure on global supply chains, increasing inventory carrying costs, a cooling economy, and a decrease in the rate of e-commerce expansion, retailers and logistics firms have…
Associated Builders and Contractors released the following statement after the U.S. House of Representatives passed Senate Democrats’ $740 billion tax-and-spend bill: “Democratic lawmakers now own the consequences of sending this radical bill to the president’s desk, including potential economic fallout, additional inflation, more workforce shortages and high materials prices that we could see in the near…
he American Institute of Architects (AIA) is applauding Congressional passage of the Inflation Reduction Act (H. R. 5376), which addresses the association’s policy priorities including provisions for building codes, climate tax incentives, and affordable housing. The Inflation Reduction Act includes about $370 billion in energy and climate-related spending, making it the largest federal investment to…
Ingevity Corporation (NYSE:NGVT) today announced it has reached an agreement to acquire privately-owned Ozark Materials, LLC and Ozark Logistics, LLC (“Ozark Materials”) in an all-cash transaction valued at $325 million. The acquisition is subject to regulatory approval and other customary closing conditions, and Ingevity expects to close on the transaction by early Q4 2022. Ozark…
