California Water Commission Approves $2.6B for Reservoir Construction
California took a big step Friday toward launching a new multibillion-dollar wave of reservoir construction. After being accused of being overly tightfisted with taxpayer dollars, the California Water Commission released updated plans for allocating nearly $2.6 billion in bond funds approved by voters during the depths of the drought. The money will help fund eight reservoirs and other water-storage projects, including the sprawling Sites Reservoir in the Sacramento Valley and a small groundwater "bank" in south Sacramento County.
Robots Bring Change to Construction Industry
Ready-Campbell formed a start-up called Built Robotics. The San Francisco, California-based company develops technology to produce self-driving heavy equipment. Ready-Campbell says the company’s goal is to make construction safer, faster and less costly.
Social media campaign attracts women, minorities to construction industry
A local electrician and telecommunication company launched a social media campaign targeted toward women and people of color in an effort to increase diversity in the workforce.
The campaign, launched jointly by IBEW Local 103 and Millennium Partners Boston, utilized platforms such as Facebook, YouTube, Snapchat, Pandora and Google to reach prospective workers, according to the campaign report. The results were record-breaking, with 452 out of 687 applicants being people of color — the largest number of minority applicants for a Boston construction apprentice program in history.
Front Line: Construction Industry Faces a Labor Shortage
Construction contractors are accustomed to dealing with complications that can delay projects. Bad weather, material shortages, and union strikes, for example. Add to that list a relatively recent situation: a shortage of skilled workers that seems to be affecting most of the U.S. According to the USG + U.S. Chamber of Commerce Commercial Construction Index, about 65 percent of small contractors report they have trouble finding skilled workers.
Report: Construction costs continue to increase amid tariff uncertainty
April marked the 18th month that North American construction costs increased, reported IHS Markit, with uncertainty around steel prices as a result of the United States' recently imposed steel tariff.
Growth Opportunities in the Global Construction Industry
The future of the global construction industry looks good with opportunities in residential, non-residential, and infrastructure. The global construction industry is expected to reach an estimated $10.5 trillion by 2023, and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023. The major drivers for the growth of this market are increasing housing starts and rising infrastructure due to increasing urbanization and growing population.
Construction decelerating, but not declining, experts say
Despite the construction industry decelerating, it is not in a decline, according to industry experts who participated in a webinar titled "Is the Construction Expansion Decelerating?" hosted by Dodge Data & Analytics April 3.