Your source for construction industry news in the Carolinas
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, improved 5.7% (2000=100) in September to 183.2 from the revised August reading of 173.4. The DMI is a monthly measure of the initial report for nonresidential building projects in planning, shown to lead construction spending for nonresidential buildings by a full year. In September, the commercial component…
A new study from Dodge Construction Network and Versatile®, a construction technology pioneer using artificial intelligence (AI) and the internet of things (IoT) to optimize construction processes, found using data-backed measurements and benchmarks is the most effective way to enhance site organization efforts. A fundamental task of every construction project is site organization; however, various obstacles can prevent general contractors…
Boom Supersonic, the company building the world’s fastest airliner, optimized for speed, safety, and sustainability, today announced that it has selected Advanced Integration Technology (AIT) as the tooling and automation provider and integrator for the Overture final assembly line. This strategic partnership is an important prerequisite for aircraft production at the Overture Superfactory in Greensboro, North Carolina. Site…
Mortgage rate hikes, a weak stock market and general economic concerns, particularly regarding the housing market, combined to deter many buyers from purchasing a luxury second home in Q3 2022 resulting in a 28% quarter-over-quarter decline in mortgage rate locks across the country, according to data analyzed by Pacaso’s research team. “Remote work has become…
The construction industry added 19,000 jobs on net in September, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has risen by 292,000 jobs, or 3.9%. Nonresidential construction employment increased by 13,100 positions on net, with growth in two…
The American Institute of Architects (AIA) By the Numbers report for 2021 showcases the annual performance of the architecture and engineering firm signatories of the 2030 Commitment. The By the Numbers report can be explored on AIA’s website. With buildings contributing almost 40 percent of U.S. carbon dioxide emissions, architecture and design firms have the opportunity to transform their…
The National Apartment Association (NAA) and IREMⓇ (Institute of Real Estate Management), in partnership with Lobby CRE, a centralized platform for financial and operational data across commercial real estate properties, have released nationwide, real-time property benchmarks for 2022. An unprecedented 9600 submissions were collected from real estate operators across the country through an innovative digital process…
Harbor Freight Tools for Schools Recognizes Outstanding CTE Educators The Harbor Freight Tools for Schools Prize for Teaching Excellence was presented to 20 teachers across the United States this week, including 12 registered SkillsUSA instructors. The prize recognizes outstanding instruction in the skilled trades in U.S. public high schools and the teachers who inspire students…
Duke Energy Progress today asked North Carolina regulators to review its rates as the company continues to strengthen the electricity grid, reducing power outages for customers and facilitating a clean, secure energy future in a manner that supports economic development across the state. Over the past five years, infrastructure upgrades helped avoid more than 1.3 million extended…
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today announced its updated and final damage estimates for Hurricane Ian. According to this new data analysis, total flood and wind losses are between $41 billion and $70 billion. This estimate (Table 1) includes wind loss, re-evaluated insured and uninsured storm surge loss and…
