Welcome to our Construction Industry News page, where we bring you the latest updates on mergers and acquisitions, key new hires, and significant industry shifts. Stay informed with breaking news and in-depth reporting to keep up with the fast-paced changes shaping the construction business.
BIRMINGHAM, Ala. (June 7 , 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Deltek + ComputerEase.
The live, online event, “How Work in Progress Can Work for You,” will take place July 28, 2022, at 1 p.m. CDT and will highlight how contractors can use work-in-progress (WIP) reports to stay on top of every project and maximize profitability.
WASHINGTON (June 22, 2022) — The White House announced President Biden is calling on Congress and states to take additional legislative action to provide direct relief to American consumers who have been hit with the price hike. Specifically, he is calling on Congress to suspend the federal gas tax for three months, through September, without taking any money away from the Highway Trust Fund.
DUBLIN (June 21, 2022) — FlowForma aims to maintain its position as a leader in the fast-growing ‘no code’ software market with a funding round that raised $4.2M million from new and existing investors, and a next-generation product scheduled for end-of-year release. To support the strategy, Colm Heffernan, previously chief operating officer at Fenergo, has been appointed as chairman, bringing a decade’s experience in growing global businesses to the company.
HAMILTON, N.J. (June 17, 2022) — Total construction starts rose 4% in May to a seasonally adjusted annual rate of $979.5 billion, according to Dodge Construction Network. Nonresidential building starts rose 20%, while residential starts fell by 4% and nonbuilding lost 2% during the month.
WASHINGTON (June 14, 2022) — Associated Builders and Contractors (ABC) reports that its Construction Backlog Indicator increased to nine months in May from 8.8 months in April, according to an ABC member survey conducted May 17 to June 3. The reading is up one month from May 2021.
DEERFIELD, Ill. (June 14, 2022) — Caterpillar Inc. announced it will move its global headquarters to the company’s existing office in Irving, Texas, from its current location in Deerfield, Illinois.
“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” said Chairman and CEO Jim Umpleby.
MOLINE, Ill. (June 14, 2022) — John Deere announced an expanded relationship with Wacker Neuson, a leading manufacturer of compact and construction machines, for 0-9-metric-ton excavators, to include North America.
CINCINNATI (June 14, 2022) – Stack Construction Technologies announced today its partnership with construction industry cost data experts BNi Building News. Stack's platform will integrate with BNi’s national and regional item cost data within its estimating solution. By embedding BNi’s materials and labor cost data in its estimating solution, contractors will be able to create accurate estimates optimized for their project location.
NEW YORK (June 7, 2022) — COWI, in joint venture with CHA Consulting, Inc. (CHA) as the owner's engineer, provided quality oversight to support the Triborough Bridge and Tunnel Authority (TBTA) in the completion of five design-build contracts worth $123 million to rehabilitate the Hugh L. Carey and Queens Midtown Tunnels. The upgrade project has advanced current systems, enhancing public safety and reliability of the city’s transport network.
HAMILTON, N.J. (June 7, 2022) — The Dodge Momentum Index (DMI) jumped 7% in May to 176.2 (2000=100), up from the revised April reading of 165.2. The Momentum Index, issued by Dodge Construction Network, 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 May, the institutional component of the Momentum Index rose 9%, and the commercial component increased 6%.
BIRMINGHAM, Ala. (May 24, 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with DivvyPay Inc.
The live, online event, “5 Ways Construction Businesses Can Cut Costs & Improve Cash Flow in 2022,” will take place June 16, 2022, at 1 p.m. CDT and will share how contractors can boost their bottom line by cutting costs, managing expenses and improving cash flow.
TOKYO (May 23, 2022) — According to Reuters, the White House is weighing an emergency declaration to release diesel from a rarely used stockpile in a bid to address a major supply crunch and blunt rising prices, an administration official said on Monday.
Diesel is essential for the U.S economy, powering farms and the construction sector along with the trucks, trains and boats that help move goods. Rising diesel prices will help drive up inflation, which has hit 40-year highs.
MILWAUKEE (May 19, 2022) — The Association of Equipment Manufacturers (AEM) released The Future of Building, a white paper detailing the drivers influencing how the construction industry could transform over the next 10 years in North America.
WASHINGTON (May 18, 2022) — According to Reuters, the United States will grant employers as many as 35,000 further H-2B visas for seasonal guest workers starting jobs between April 1 and Sept. 30.
The expansion of the H-2B visas, used to employ landscapers, housekeepers, hotel employees and construction and carnival workers, among others, for the busy summer vacation season comes amid record job growth and a U.S. labor crunch despite worries over some economic headwinds.
HAMILTON, N.J. (May 17, 2022) — Total construction starts rose 3% in April to a seasonally adjusted annual rate of $945.8 billion, according to Dodge Construction Network. Nonresidential building starts rose 6% and residential starts increased by 4%, while nonbuilding starts fell 4%.
WASHINGTON (May 16, 2022) — The U.S. Department of Transportation (DOT) announced that the application process is now open for communities of all sizes to apply for $1 billion in Fiscal Year 2022 funding to help them ensure safe streets and roads for all and address the national roadway safety crisis.
MOLINE, Ill. (May 10, 2022) — Even with supply chain issues and labor shortages, U.S. equipment rental revenue, including both construction and general tool, is expected to grow by 11.1% to reach nearly $56 billion in 2022, according to the latest quarterly forecast released by the American Rental Association (ARA).
PORTLAND, Ore. (May 10, 2022) — KEEN Utility, the work boot division of KEEN Inc. (KEEN), launched the She Builds Grant Program to champion the next generation of tradeswomen. The program pledges $1M in much needed product and financial support over the next five years to trailblazing nonprofit organizations in the United States and Canada dedicated to the empowerment and education of women seeking a career in the skilled trades.
HAMILTON, N.J. (May 6, 2022) — The Dodge Momentum Index (DMI) moved 6% higher in April to 164.8 (2000=100), up from the revised March reading of 155.0. The Momentum Index, issued by Dodge Construction Network, 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.
BIRMINGHAM, Ala. (May 5, 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with LaborChart, a Procore Company.
