News

PHOENIX, Ariz. (Jan. 9, 2022) — International property and construction consultancy firm Rider Levett Bucknall (RLB) has released its new Quarterly Cost Report (QCR) for North America. With data current to mid-fourth-quarter and featuring construction cost information for 14 United States and Canadian markets, the QCR provides a statistical view of the state of the construction industry, detailing indicative construction costs for eight building sectors.

HAMILTON, N.J. (Jan. 7, 2022) — The Dodge Momentum Index fell 3% in December 2021 to 166.4, down from the revised November reading of 170.7. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

STRONGSVILLE, Ohio (Jan. 6, 2022) — Foundation Software has announced the acquisition of Estimating Edge, developer of The Edge commercial construction estimating, project management tracking and takeoff software. This acquisition further enables Foundation to serve the construction community by providing software and services that align and strengthen contractors’ back-office operations.

ARLINGTON, Va. (Dec. 22, 2021) — Construction employment increased in nearly two out of three U.S. metro areas between November 2020 and November 2021, according to an analysis by the Associated General Contractors of America (AGC) of new government employment data.

NORCROSS, Ga. (Dec. 28, 2021) — Hyundai Construction Equipment Americas, Inc., recently announced that its parent company, Hyundai Construction Equipment (HCE), plans to invest $170 million in its Ulsan, South Korea, factory to increase production capacity by 50% and simplify its manufacturing processes for increased efficiency.

WASHINGTON (Dec. 21, 2021) — Associated Builders and Contractors (ABC) has released its seventh annual Merit Shop Scorecard, a ranking based on state policies and programs that encourage workforce development, grow career and technical education, strengthen careers in construction and advocate for fair and open competition for taxpayer-funded construction projects.

ARLINGTON, Va. (Dec. 20, 2021) — Only 18 states and Washington, D.C., have added construction jobs since just before the start of the pandemic in February 2020. This is despite a pickup in most states from October 2021 to November 2021, according to a new analysis of federal employment data released by the Associated General Contractors of America (AGC).

SUNNYVALE, Calif. (Dec. 15, 2021) — Trimble has announced it has acquired AgileAssets, a provider of enterprise infrastructure asset management software to private organizations and government, including national road authorities and state-level transportation agencies in the United States.

SAN FRANCISCO (Dec. 16, 2021) — Autodesk, Inc. has announced that it is acquiring ProEst, a cloud-based estimating solution that enables construction teams to create estimates, perform digital takeoffs, generate detailed reports and proposals and manage bid-day processes. Autodesk plans to integrate ProEst with Autodesk Construction Cloud, a comprehensive construction management platform connecting teams, data and workflows across the entire building lifecycle.

SEOUL, South Korea (Nov. 16, 2021) — Hyundai Construction Equipment Co. plans to acquire the whole stake in two overseas units of its affiliate Korea Shipbuilding & Offshore Engineering Co. to focus on the construction machinery business.

SCHAAN, Fla. (Nov. 16, 2021) — The Hilti Group has entered into an agreement to acquire Fieldwire, a San Francisco-based construction technology company, for an approximate $300 million. The strategic acquisition will bring together Fieldwire’s best-in-class product and Hilti’s global brand and market reach to help drive productivity on construction sites.

MOLINE, Ill. (Dec. 16, 2021) — Deere & Company has signed a definitive agreement to acquire majority ownership in Kreisel Electric, Inc., a battery technology provider based in Rainbach im Mühlkreis, Austria.

HAMILTON, N.J. (Dec. 16, 2021) — Total construction starts fell 14% in November to a seasonally adjusted annual rate of $867.8 billion, according to Dodge Construction Network. Nonbuilding and nonresidential building starts bore the brunt of the decline, falling 30% and 21% respectively after seeing sharp increases in October as three large projects broke ground. Residential starts gained a modest 3%.

WASHINGTON (Dec. 15, 2021) — Architecture firms reported increasing demand for design services for the tenth consecutive month in November, according to a report from The American Institute of Architects (AIA).

WASHINGTON (Dec. 15, 2021) — Low financial stress, an expanding housing sector and increased federal spending on infrastructure are expected to propel equipment and software investment growth of 4.6% for 2022. Annual U.S. GDP growth for 2022 is forecast at 3.5%, according to the 2022 Equipment Leasing and Finance (ELFA) U.S. Economic Outlook.

ARLINGTON, Va. (Dec. 15, 2021) — Prices of numerous construction materials soared again in November, outpacing the rate at which contractors raised their bid prices, according to an analysis by the Associated General Contractors of America (AGC) of government data. Association officials said the current steps being taken to address supply chain problems and rising prices have been insufficient and urged public officials to redouble their efforts.

WASHINGTON (Dec. 14, 2021) — Construction input prices increased 1.4% in November compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also increased 1.4% for the month.

BELLPORT, N.Y. (Dec. 9 2021) — Three New York concrete supply and construction companies and their owner, who schemed for 3 years to deny overtime pay to 99 laborers, have been ordered to pay the workers a total of $987,591 in back wages and liquidated damages, plus interest, in a consent judgment entered in the U.S. District Court for the Eastern District of New York.

WASHINGTON (Dec. 8, 2021) — A new report from the American Institute of Architects (AIA) is providing insights on how architecture firms view technology adoption and how firm culture impacts technology management.