From 2020 through 2023, total construction spending will increase by 38% over the prior 4-year period to $9.4 billion using innovative practices, according to a New York Building Congress forecast in a July 20 report.
Shelter-in-place rules, project shutdowns and social distance mandates spurred by COVID-19 have disrupted career starts for this year’s engineering and construction graduate hires and interns—with job commitments and work parameters changing for many.
The Mountainside, N.J.-based firm saw a 10% increase in 2019 regional revenue over the year before and is known for its safety record, with its Experience Modification Rate of 0.581 being well below the industry average of 1.0
As states around the country gradually reopen from the coronavirus shutdown, contractors are being challenged to operate in new ways to prevent the spread of the virus and to accept a slower pace of work as the new normal.
Five regions of New York, but not NYC, open nonessential construction sites on May 15; all New Jersey projects will restart on May 18, with all public permit approvals now extended.