In 2015 the construction industry faces the aftermath of the recent recession, during which many experienced construction professionals moved to other industries. As construction demand bounces back and increases its need for competent, long-term employees, both general contractors and subcontractors must find ways to attract and retain people to fill key executive-level positions. One method for doing so is to introduce an incentive compensation plan, which can motivate employees to adopt ownership thinking, resulting in strategic actions and decision-making that lead to business growth. This is especially true for companies experiencing or preparing for a transition, which might include a
New construction starts in December retreated 16% to a seasonally adjusted annual rate of $568.2 billion, according to Dodge Data & Analytics. The decline follows the 13% increase reported for total construction starts in November, when activity reached its highest level in 2014, with the lift coming from several exceptionally large projects. Those included a massive lithium ion battery manufacturing plant, an airport terminal redevelopment program and a liquefied natural gas terminal.Both nonresidential building and nonbuilding construction in December witnessed substantial percentage declines relative to their robust November amounts. At the same time, residential building managed a modest gain in
A $2.5-million grant from the U.S. Dept. of Energy to a coalition of organizations, including the University of Colorado Boulder, will be used to help improve wind-energy forecasting in mountain and valley regions. The grant is led by Vaisala, an international company based in Finland with offices in Louisville, Colo., which specializes in environmental and industrial measurements. The research will target ways to improve the wind energy industry’s weather models for short-term forecasts.According to CU-Boulder project leader Julie Lundquist, an assistant professor in the Dept. of Atmospheric and Oceanic Sciences, better forecasting will help integrate renewably generated electricity into the
The confidence of Colorado business leaders has increased slightly going into 2015, according to the Leeds Business Confidence Index (LBCI) recently released by the University of Colorado Boulder’s Leeds School of Business. The index is more stable than in has been its 11-year history. “We’ve gone seven quarters with very low volatility quarter to quarter after having very high volatility quarter to quarter for the previous run of the entire survey,” said economist Richard Wobbekind, executive director of the Leeds School’s Business Research Division, which conducts the LBCI. “When business people are assessing the environment they’re seeing it as really
Shailen Bhatt will be the next executive director for the Colorado Dept. of Transportation. He will begin at CDOT in mid-February. The announcement was made by the governor’s office on Jan. 5. Photo courtesy of CDOT Shailen Bhatt will begin his tenure at CDOT in mid-February. Bhatt most recently served as cabinet secretary for the Delaware Dept. of Transportation (DelDOT), where he directed nearly a billion-dollar budget and managed 2,800 employees in the state’s transportation system. During his term, Bhatt delivered $2 billion in infrastructure investments, managed the disaster recovery of two hurricanes and strengthened the financial stewardship of the department
The Conference Board Consumer Confidence Index, which had declined in November, improved in December. The index now stands at 92.6 (1985=100), up from 91.0 in November. The Present Situation Index rose to 98.6 from 93.7, while the Expectations Index decreased to 88.5 from 89.3 in November. Consumers’ appraisal of current conditions was considerably more favorable in December. Those saying business conditions are “good” was unchanged at 24.8%, while those claiming business conditions are “bad” decreased from 21.8% to 19.6%. Consumers were also more positive in their assessment of the job market, with the proportion stating jobs are “plentiful” increasing from
Construction firms added jobs in 38 states and the District of Columbia between November 2013 and November 2014 while construction employment increased in 26 states and D.C. between October and November, according to a recent analysis of Labor Dept. data by the Associated General Contractors of America. Association officials noted that the list of states gaining jobs has varied significantly from month to month as the market remains extremely variable. “Construction job growth remains positive overall but volatile,” said Ken Simonson, the association’s chief economist. “Although more than three-quarters of states have added construction jobs from year-earlier levels throughout 2014,
At a seasonally adjusted annual rate of $677.8 billion, new construction starts in November climbed 13% from the previous month, according to Dodge Data & Analytics (formerly McGraw Hill Construction). Nonresidential building had a particularly strong month, lifted by the start of several unusually large projects, including two massive manufacturing plants and an airport terminal redevelopment. The nonbuilding construction sector also contributed to the latest month’s surge, boosted by a liquefied natural gas facility. Meanwhile, residential building retreated in November, as multifamily housing settled back from its brisk pace in October. For the first 11 months of 2014, new construction
The Utah construction industry is mourning the loss of Dale Campbell, 68, one-time president and recent executive vice president of marketing and development for Ogden-based R&O Construction. Campbell died unexpectedly on December 5. Photo courtesy of R and O Construction Dale Campbell “Dale’s caring way and many talents leave a large hole to fill,” R&O’s management said in a statement. “But please know that R&O will move forward with Dale’s number one priority, which is taking care of our clients and community. We thank each of you who played a role in working with Dale to build what is truly
Construction starts in Colorado next year are expected to increase by 21%, with total new construction reaching $13.4 billion, according to a recent forecast from Dodge Data & Analytics (formerly McGraw Hill Construction). Related Links: Colorado Poised for Continued Job Growth ARTBA Forecasts Growth for U.S. Transportation Infrastructure DDA predicts that 2014 will finish with a little more than $11 billion in new work in Colorado. If the 2015 totals are achieved, it would return the state to the prerecession highs of the early 2000s.In Utah, 2014 starts are headed toward a 4% increase over 2013, at $6.3 billion, and
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