Wells Fargo Reveals Top 2023 Reflections of the Construction Industry
Wells Fargo released its 2023 Construction Industry Forecast, a survey designed to gather insights on sentiment and current business conditions in the construction industry. This year’s survey indicates a level of cautious optimism prevailing among nonresidential contractors and distributors. Most notably, respondents shared several top concerns, including the availability of skilled workers, rising interest rates,…
Construction Workforce Shortage Tops Half a Million in 2023, Says ABC
The construction industry will need to attract an estimated 546,000 additional workers on top of the normal pace of hiring in 2023 to meet the demand for labor, according to a proprietary model developed by Associated Builders and Contractors. “The construction industry must recruit hundreds of thousands of qualified, skilled construction professionals each year to…
Need Construction Legal Advice? Look No Further Than Poyner Spruill’s Matt Bouchard
On any given day, you can find Poyner Spruill LLP partner Matt Bouchard busy negotiating commercial construction contracts, resolving multi-million dollar disputes, or counseling clients on successful project completion. Bouchard leads the firm’s Construction Law Practice Area, a group of five attorneys who focus on commercial construction matters in the Carolinas. The team handles everything…
Designing for Resiliency: Introducing Flexible Design into Our Built Environment
There is a concept in architecture that continually speaks to me. I’ve seen its absence create constraints, added costs and sometimes an unnecessary plan for new construction or demolition. Its presence, on the other hand, reimagines the built environment as dynamic, easily and proficiently adapting to change. I’m talking about flexible architecture, which is often…
The 2023 Economy: Taking a Look at the World, the Nation, and the Carolinas
With 2023’s first month behind us and more 2022 data in hand, this is a good time to look closer at the year just ended and consider images now forming for the year ahead. An assessment of the world situation by the global consultancy PwC presented a few weeks ago at the Davos World Economic…
Balfour Beatty Awarded $242.35 Million Design-Build Contract by North Carolina Department of Transportation
North Carolina Department of Transportation (NCDOT) has awarded Balfour Beatty a $242.35 million design-build contract to deliver improvements to Interstate U.S. 70 between the Havelock Bypass and east of Thurman Road in Craven County. The project will upgrade the 6.4-mile section of U.S. 70 to improve mobility and military interconnectivity, support economic development and increase…
Boom Supersonic Begins Construction on Overture Superfactory
Boom is joined by North Carolina Governor Roy Cooper and Senate Leader Phil Berger at groundbreaking event in Greensboro, NC Boom Supersonic, the company building the world’s fastest airliner, kicked off construction of its Overture Superfactory today in Greensboro, North Carolina. The Overture Superfactory is a state-of-the-art manufacturing facility located on a 62-acre campus at the Piedmont Triad International Airport. This site will…
Architecture Billings Continue to Decline
Demand for design services from U.S. architecture firms continued to contract in December, according to a new report from the American Institute of Architects (AIA). The pace of decline during December slowed from November, posting an Architecture Billings Index (ABI) score of 47.5 from 46.6 (any score below 50 indicates a decline in firm billings)….
What Construction Firms Need to Know about ESG
While the environmental, social and governance (ESG) movement started with institutions and financial firms, it has become increasingly relevant for the construction industry. Many project owners and financiers are now requiring construction companies to report on ESG measures because activities completed by contractors are considered part of the owner’s value chain and must therefore be…
Business Facilities Names North Carolina ‘State of the Year’
North Carolina has been named 2022 State of the Year by Business Facilities for the state’s successful year in project announcements, capital investment and job creation. This is the second time North Carolina has been awarded this accolade since 2007 when the magazine’s highest state honor began. The state previously won in 2020. “A succinct…
