For the first time in over three years, the construction industry is seeing signs that the deep industry recession has bottomed out and the market is turning around.

Many design firms in infrastructure markets are seeking alternative financing sources for projects. Parsons Corp. is taking the next step by creating a new group, Parsons Enterprises, to help create alternative financing plans and, in the right cases, invest in the projects themselves. Photo: Courtesy Parsons Related Links: The Top 500 Design Firms: 2010-2011 at a Glance “The joke has been that you would go to conferences on alternative financing and discuss the same three projects over and over,” says Ruth McMorrow, new executive vice president at Parsons. McMorrow helped arrange public-private deals on civil works as an investment banker

Interest in solar power is increasing, spurred in part by international demand for alternative energy and a recent increase in the price of oil. As a result, there is more demand for the chemical vital to photovoltaic solar panels: polycrystalline silicon, or polysilicon. Photo: AP Wideworld Related Links: The Top 500 Design Firms: 2010-2011 at a Glance Polysilicon is not a new. It serves as the base for most integrated circuits. Now, many design firms, including CDI Engineering Solutions, see demand for polysilicon growing exponentially. “China has announced that it is committed to solar power and is supplying low-interest loans

For the first time, in the nine quarters that ENR has been conducting the Construction Industry Confidence Index survey, executives at the nation�s largest construction and design firms see the light at the end of the tunnel. Industry Optimism Finally Improves The seemingly boundless optimism of the construction industry has been sorely tested over the past two and a half years. The market recession that hit nearly every market in every region of the U.S. has cast a pall over the industry, which has seen projects and opportunities dry up, firms large and small fall by the wayside and unemployment

The seeming boundless optimism of the construction industry has been sorely tested over the past two and a half years. The market recession that hit nearly every market in every region of the U.S. has cast a pall over the industry, which has seen projects and opportunities dry up, firms large and small fall by the wayside and unemployment rates in the trades of over 20%. The mantra for recovery has been “Wait till next year.” But amid this gloom, a new sense of hope is beginning to appear in the industry, according to the most recent ENR Construction Industry

Maybe it is the gains on Wall Street. Maybe it is the recent midterm elections. Maybe it is the general optimism of the construction industry at work. Whatever the reason, major contractors, design firms and subcontractors are feeling decidedly less pessimistic about construction market prospects than they did just three months ago, according to the ENR Construction Industry Confidence Index survey for the fourth quarter of 2010. + Image Related Links: Forecast: A Weak Recovery Checks Inflation Equipment: Why Few Are Debating the New Federal Fuel Economy Rules Lumber: Chinese Demand Props Up Prices International: Recession Relinquishes Grip On Global

The global construction market has been taking its lumps over the past two years, and many large international firms are scrambling to maintain their size. However, as the slump grows in duration, a few things are becoming clear: The construction recession is not universal, some regions and market sectors are doing well, and many international firms are thriving. Photo: Art Credit Strabag SE Related Links: View Complete Global Sourcebook with Rankings General Building: Firms Say World Market Is Thawing, Albeit Slowly Transportation: Asia Bright Light in Otherwise Dim Sector Power: Growing Demand Fuels Worldwide Boom Environment: Global Expansions Yield Opportunities

As the construction recession drags on, industry firms look to those who hire them and write the checks to see when the downturn will end. While many owners believe the worst is past, most think there will be no quick turnaround in construction in the near future. When the market does turn around, owners worry about who will be there to take up the burden of rebuilding the nation’s industrial and public infrastructure. Photo: Courtesy San Jose International Airport + Image Related Links: The Top Owners Sourcebook Complete Report Roads & Bridges: Lack of Long-Term Funds Stymies Local DOTs Aviation:

For many firms in the construction industry, the market recession is well into its third year, and most executives believe it shows no signs of abating. Specialty contractors and subcontractors have been hit particularly hard; few had healthy backlogs to tide them over for an extended period of time. Many large specialty contractors have gone into survival mode, accepting lower revenue levels, pursuing only those projects that make sense and only working with customers and partners they trust. The impact of the downturn can be measured by the results of the ENR Top 600 Specialty Contractors survey. The Top 600

By its nature, the construction industry is an optimistic group. However, by the end of the “summer of recovery,” firms’ rosy view that better times were right around the corner has been tested and found wanting. Major contractors, engineers, subcontractors and construction service firms have concluded that the industry recession will last for the foreseeable future and that they need to be prepared to hold on for as long as it takes. + Image Related Links: Economics: With Margins Cut to the Bone and No Demand, Costs Are Left With Nowhere To Go Cement: New EPA Regs Pose Cost Problems