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Construction Industry News Bulletin: January 5
By Editor
Friday - January 5, 2018 12:42 pm     Article Hits:144     A+ | a-

US Construction Spending Hit Record High in November

U.S. builders spent 0.8 percent more on construction projects in November, the fourth consecutive monthly gain.

The November advance follows October's revised 0.9 percent gain, the Commerce Department said Wednesday. The increase brought total construction spending for the month to a seasonally-adjusted annual rate of $1.26 trillion, an all-time high.

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The most expensive mile of subway one earth

The estimated cost of the Long Island Rail Road project, known as “East Side Access,” has ballooned to $12 billion, or nearly $3.5 billion for each new mile of track — seven times the average elsewhere in the world. The recently completed Second Avenue subway on Manhattan’s Upper East Side and the 2015 extension of the No. 7 line to Hudson Yards also cost far above average, at $2.5 billion and $1.5 billion per mile, respectively.

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Seventy five percent of construction firms plan to expand headcount in 218, contractors are optimistic about strong economy, tax and regulatory cuts

Seventy-five percent of construction firms plan to expand their payrolls in 2018 as contractors are optimistic that economic conditions will remain strong as tax rates and regulatory burdens fall, according to survey results released today by the Associated General Contractors of America and Sage Construction and Real Estate. Despite the general optimism outlined in Expecting Growth to Continue: The 2018 Construction Industry Hiring and Business Outlook, many firms report they remain worried about workforce shortages and infrastructure funding.

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Houston’s Water Innovation Hub Hopes to Avoid Harvey-Like Near Disasters

During Hurricane Harvey’s rains in August, engineer Drew Molly and his colleagues at the Northeast Water Purification Plant in Houston waded through hip-deep water, did some quick calculations and with the help of a contractor — and at the behest of the city’s mayor – kept the plant operating and the city’s water system safe with just hours to spare.

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