Construction – International World Of Business

Partial lane closure for MIA garage construction begins May

Press Room Team — Thu, 02 May 2024 12:41:15 +0000

Due to the construction of the Flamingo Parking Garage extension, Miami International Airport’s lower drive (arrivals level) will be reduced to three lanes from concourses G to J (Doors 20 to 33) from May 1, 2024, to November 2024. Dedicated taxi lanes will remain open, and hotel shuttles will now pick up and drop off at the departures level. Airport visitors should plan ahead and allow extra time when traveling through this area. Dedicated Miami-Dade Aviation Department officers will be on-site to assist airport users and ensure the smooth flow of traffic.

On February 20, Miami-Dade County Mayor Daniella Levine Cava, Miami-Dade County commissioners, and leaders from MIA and Lemartec Corporation gathered at MIA to celebrate the groundbreaking for the new 2,240-space, seven-level parking garage extension. The $136-million facility, scheduled for completion in summer 2026, will be located adjacent to MIA’s current Flamingo garage and will substantially increase parking for passengers and employees.

The new garage will also include future-ready features such as 50 spaces for electric vehicle charging, energy-efficient LED lighting fixtures, and a Parksmart Silver Certification design – the global certification program that defines, measures, and recognizes high-performing, sustainable garages.

Miami International Airport, America’s busiest airport for international freight and the second busiest for international passengers, is receiving an unprecedented investment of $7 billion in capital improvements and $1.7 billion in maintenance upgrades. MIA offers more flights to Latin America and the Caribbean than any other U.S. airport and is also the leading economic engine for Miami-Dade County and the state of Florida, generating business revenue of $31.9 billion and approximately 60 percent of all international visitors to Florida annually.

To request materials in an accessible format, Sign Language Interpreters, CART services, and/or any accommodation to participate in any Miami-Dade Aviation Department (MDAD) public meetings and events, please email the ADA Office at ADAcoordinator@miami-airport.com or call the office at 305-876-7747 five days in advance to initiate your request. Persons who are deaf or hard of hearing may also call 711 (Florida Relay Service).

Coalition Letter on Water Infrastructure Program Funding

Press Room Team — Sun, 23 Apr 2023 17:48:35 +0000

The undersigned organizations, representing business, environment, local government, and water sector stakeholders, strongly urge you to fund several key water infrastructure programs authorized in the Infrastructure Investment and Jobs Act (IIJA, P.L. 117-58). These programs were authorized but not provided appropriations in the IIJA and we urge funding as the FY 2024 appropriations process proceeds. Building smart, modern, resilient, and sustainable infrastructure has long been among our top priorities.

We encourage your committee to fund the following issue areas and programs (See Appendix 1 for specific programs of interest):

· Small and disadvantaged communities and environmental justice: Catalyzing assistance for small, rural, disadvantaged, and underserved communities especially around funding for water infrastructure, affordability, lead pipe replacement, especially schools, technical assistance, and access to technologies to address water quality concerns at the household level (e.g., point of use/point of entry water filtration systems). This funding should also include the low-income assistance needs assessment and pilot projects and add to the technical assistance that EPA is already providing. The U.S. Chamber of Commerce recently released its Small and Disadvantaged Community Water Funding Roadmap to help on this important issue.

· Resilience: Promoting resilience, cybersecurity, and sustainability for water and wastewater systems, including through nature-based solutions and leveraging public-private partnerships, as well as deployment of USGS ‘super’ gauges throughout river basins to monitor nutrient loading.

· Technology innovation: Establishing an advanced technology grant program and a pilot for waste-to-energy solutions to drive innovation, lower costs, and improve efficiency.

Our organizations recommend continued full funding for State Revolving Funds and the Water Infrastructure Finance and Innovation Act and also support the Water Reuse Interagency Working Group to integrate approaches to public and industrial water recycling.

We again urge your support for important water and resilience funding in the FY24 appropriations and will follow up with you and your staff to answer any questions you may have. Thank you for your leadership.

The Megadrought Has Massive Implications for Business: Action Is Needed

Press Room Team — Mon, 06 Feb 2023 00:22:15 +0000

Despite recent storms in California, the fact still remains that the state, like the rest of the American West, remains gripped by an ongoing megadrought, the driest 22-year period in the last 1,200 years. While these storms may have temporarily eased drought conditions in California and topped up depleted water supplies, inadequate water infrastructure limits how much water can be captured and stored for drier periods rather than simply flowing out to sea. In any case, according to the U.S. Drought Monitor, California is still experiencing drought conditions, and in some regions, such as the Imperial Valley, drought conditions and water cuts persist. Outside of California, much of the West continues to wither in a prolonged drought, and as the drought moves east, the Mississippi River has dropped significantly while parts of the Missouri River are now at record lows.

We are already seeing the serious impact this drought will have on our country, and it is clear that unless action is taken, that impact will worsen. Beyond the obvious fact that we cannot survive without water, every industry, and every job, depends on sufficient freshwater resources. To adapt to an unfolding water crisis, policymakers at the state and local level should leverage the array of federal funds and other policy tools provided by Congress and the executive branch to meet this challenge head-on.

A critical issue

Lake Powell and Lake Mead, reservoirs providing water to millions of people across the West, are at critically low levels. Even with well above average snowpack in the Colorado River’s headwaters this year, it will have a minimal effect in restoring these critical water supplies in the long run. Recently, a community outside Scottsdale, Arizona had its water supply cut off due to dwindling water supplies from the Colorado River. Even after heavy rains early this year, at the time of writing, California estimates that statewide 386 water systems are now failing and another 431 are at risk of failing—impacting nearly 2 million people. According to a new report on the impact of the drought on California, the amount of idle cropland in the state increased by an estimated 752,000 acres in 2022, as compared to 2019 which accounted for $1.7 billion in revenue losses. In Texas, cotton farmers have been forced to fallow nearly 70% of all cotton they planted in the state in 2022—driving a 21% drop in U.S. cotton crops, while nearly three quarters of all American farmers (74%) reported that they were forced to reduce harvest yields due to drought, according to the National Farm Bureau Federation.

Beyond agriculture and drinking water, water scarcity will seriously affect other sectors. Water is a critical input for countless industries, from manufacturing to mining, and is needed in almost all types of energy generation. Without enough water, the data centers which power the digital economy would overheat—impacting countless areas of our economy and society. If decisive action is not taken, this unfolding water shortage will have a devastating impact: a shortage of food and clean water, less reliable power grids, unstable digital servers, and a crippled manufacturing sector. It is clear, as severe drought conditions persist, it will continue to have a massive impact on our country and the world at large. Action is seriously needed.

States and localities are taking action

In many states and localities, a range of efforts are already in motion. In Colorado, a renewed effort is underway to expand cloud seeding to increase snowfall during winter months, snowfall which feeds the critical Colorado River Basin. In Orange County, California, a new desalination plant was approved last year, which will provide 5 million gallons of freshwater a day. In Nevada, policymakers have led for years in implementing water conservation policies, such as water-efficient plumbing, water reclamation, and reuse. Additionally, in many states, aquifer replenishment is increasingly seen as a vital way to rebuild natural underwater reserves during periods of heavy precipitation, while ensuring water reserves will not simply evaporate during scorching summers. While none of these examples is a ‘silver bullet’ to solve the water crisis, each is an example of the tools at state and local policymakers’ disposal.

Fortunately, significant federal resources are available to states and localities to implement policy solutions such as these to address this water crisis. State and local policymakers should prioritize these resources to increase their water efficiency, such as water reclamation and reuse projects, as well as to make more freshwater resources available by leveraging technologies like cloud seeding and desalination.

What needs to be done

The Infrastructure Investment and Jobs Act provided $8.3 billion in funding for water resilience to Western states and localities through discretionary grants administered by the U.S. Bureau of Reclamation. This includes significant funding for a range of uses including funding for water recycling, desalination, and water efficiency projects. This includes $1 billion for water recycling, $1.15 billion for projects to improve water storage, $1 billion for rural water projects, and $250 million for desalination projects and studies. With these funds, states can build desalination plants to increase freshwater supply for coastal population centers, use water more efficiently with modernized water storage systems and water recycling, and ensure farmers have the water resources they need with investments in rural water infrastructure.

Many states also still have ample American Rescue Plan Act (ARP) funds available. At the local level, according to data from the National Association of Counties, National League of Cities, and Brookings Metro, cities and counties still have nearly half of their allocated ARP funds remaining. Recently, Congress passed legislation as part of this year’s omnibus which allows states and localities greater flexibility to use these COVID relief funds for infrastructure projects and disaster relief. States should take advantage of this new flexibility to use their COVID relief funds projects to counter the water crisis.

Finally, the President should declare a federal disaster for the ongoing megadrought to free up further federal emergency resources for drought-stricken states as a group of Western governors have previously requested. As the Western Governors noted in their 2021 letter to the President, the Stafford Act specifically allows for a federal disaster declaration for drought. Under the Stafford Act, an emergency declaration would allow for the Federal Emergency Management Agency (FEMA) to deploy significant federal emergency resources for direct assistance to individuals and businesses, as well as public assistance to state and local governments and hazard mitigation assistance.

While the President did declare a disaster for recent flooding in California, this assistance is limited to efforts related to flooding, and offers no assistance for the ongoing drought and the water crisis it has created. By declaring a federal drought disaster, the President can unlock these seriously needed federal emergency resources for states and localities as well as provide direct federal assistance to impacted individuals and businesses to alleviate the damage inflicted by this ongoing natural disaster.

The United States is facing a truly epochal challenge: a water shortage not seen in over a millennium. It is imperative that policymakers at the state and local level leverage every available resource to implement policy solutions to use the water they have more efficiently and to increase the amount of available freshwater. At the same time, Congress and the White House must take action to make further resources available to states and localities. By doing so, policymakers at all levels of government can help build greater water resiliency, ensuring that the United States can address and overcome this challenge.

How the Construction Industry Is Working to Increase Diversity and Inclusion

Press Room Team — Thu, 27 Oct 2022 23:52:00 +0000

Disparities in infrastructure have cost too many communities valuable resources, time, effort, and money, leading to fewer opportunities for economic growth. For many communities – whether minority, Appalachian, tribal, urban, or rural – the dream of an inclusive social and economic infrastructure is still not a reality.

The U.S. Chamber of Commerce supports inclusive infrastructure investments for the simple fact that equality within infrastructure can lead to closing the opportunity gap that still impacts so many Americans in the 21st century. The recently passed Infrastructure Investments and Jobs Act (IIJA) can transform these communities that have been historically underserved and left behind as well as significantly improve the quality of life of ALL people.

One key to inclusive infrastructure investment is improving diversity and inclusion in the construction industry. The Associated General Contractors released a report in 2018 outlining six reasons why diversity and inclusion are strategically valuable in generating corporate/industry innovation, increasing profitability, and ensuring a positive and sustaining legacy of progress. As the report states, “the arguments presented for a company including diversity and inclusion as a key business strategy go beyond the moral imperative of ‘doing the right thing’ and focus on the measurable and tangible financial results that can be achieved with effective implementation.”

According to data from the Bureau of Labor Statistics, in 2021 only 9.9% of construction professionals were women, 6.2% were Black, and 2% were Asian. Workplace diversity adds creativity to an otherwise homogeneous group, increasing workplace productivity and performance alongside new perspectives. The Associated General Contractors highlight that diverse suppliers not only meet or exceed expectations but also generate positive financial returns. It is imperative that every company comes together to cultivate change among themselves and industry partners.

Last week we celebrated Construction Inclusion Week, an industry-wide awareness effort that fosters conversations among industry leaders and businesses around the construction industry’s efforts to increase diversity and inclusion among contractors, subcontractors, and suppliers.

Construction Inclusion Week provides educational and business resources for the construction industry, including live-streamed content, facilitator tools, and robust curriculum. By participating in Construction Inclusion Week companies made a pledge and took action to jumpstart important conversations and work together to implement measurable change. Only when the business community comes together to work collaboratively will we be able to see concrete change and move our nation forward.

Inclusive infrastructure investment is imperative to America’s competitiveness. Let’s make this reality by working together to transform communities, both economically and through improved quality of life.

How broadband infrastructure impacts greenhouse gas emissions

Press Room Team — Fri, 04 Mar 2022 16:54:11 +0000

You might be reading this blog post on your smartphone, using your mobile broadband network which might be 4G or 5G. But as you read this, have you ever thought that the infrastructure of the mobile broadband you’re using has an impact on the environment?

The environmental impact of different broadband network options is not well understood. The good thing, though, there is widespread interest in providing universal broadband connectivity and improving the environmental sustainability of infrastructure.

We analyzed both aspects simultaneously in our recent research (publication forthcoming) in one of the most dynamic digital markets of South America: Chile. The findings reveal how strategies for achieving universal broadband through 4G and 5G could impact greenhouse gas emissions over the next decade.

Infrastructure operated to provide broadband requires electricity which releases carbon and other emissions into the atmosphere. Our assessment for Chile estimates net emissions for carbon dioxide (CO2), nitrogen oxides, sulfur oxides, and particulate matter (PM10) up to 2030.

Our early results indicate that 5G with a fixed fiber backhaul can be the least demanding energy strategy among the four approaches we looked at (which included 4G with fixed or wireless backhaul and 5G with fixed or wireless backhaul). This is explained by the fact that more sites are required for 4G than 5G to meet the per-user capacity targets, therefore increasing energy demand and atmospheric emissions. Moreover, wireless backhaul requires more power to operate relative to fiber, again increasing atmospheric emissions.

Higher capacity = higher emissions

Findings show a strong trend that higher per-user capacity targets lead to higher carbon emissions because more assets are required to provide greater system capacity, increasing the quantity of operational electricity required to deliver universal broadband.

In addition to producing carbon emissions, energy production also releases numerous undesirable pollutants into the atmosphere, such as nitrogen oxides, sulfur dioxides, and particulate matter. See figure 1 below which visualizes the corresponding carbon emissions produced from using on-grid power in Chile, based on the current energy generation mix in operation.

Figure 1. Assessment of carbon emissions for universal broadband options in Chile

Note: To connect mobile phone towers back to the internet, network operators need to build a “backhaul” connection using fiber optic cable or via a set of wireless links. In the figure above, (F) indicates fiber backhaul; (W) indicates wireless backhaul. One kiloton of CO2 is equivalent to the annual greenhouse gas emissions (GHG) of 217 passenger vehicles. (Source: Oughton and Comini calculations, 2021, publication forthcoming)

The research also estimates the potential quantity of nitrogen oxides, sulfur oxides, and particulate matter emissions across the various scenarios, capacity targets, and technology strategies. In line with the CO2 emissions forecast, 5G with a fiber backhaul is the most climate-friendly technology. Moreover, 5G-related emissions increase less significantly than 4G when extra capacity per user is considered, thanks to the spectral efficiency improvements between these generations when the capacity target per user is held constant. For instance, nitrogen oxide emissions from 5 to 20 Mbps increase by 32 percent in the case of 5G with fiber backhaul, while it rises by 151 percent in the case of 4G with wireless backhaul.

According to estimates by GSMA, the number of cellular sites using off-grid diesel generators in Chile is approximately 2 percent, raising concerns around the environmental sustainability of such sites. Given the existing commitment in Chile regarding renewable energy sources, figure 2 explores the sustainability benefits from shifting cellular sites from diesel generators to renewable sources, such as photovoltaic and wind power systems. The results are reported for a capacity per user target of about 10 Mbps. Implementing renewable energy power for all cellular sites using diesel generators leads to CO2 emission savings of up to 19 percent, for example, when using 5G with a wireless backhaul link.

Figure 2. Assessment of off-grid renewable power strategies for universal broadband options in Chile

Note: Each bar graph reflects the baseline adoption scenario, whereas the interval bars reflect the difference between the low and high adoption scenarios. (Source: Oughton and Comini calculations, 2021, publication forthcoming)

Diesel vs. renewable energy generators

Chile emits approximately 86 megatons of CO2 annually, so the estimated emissions here—across different scenarios—are well below 1 percent of annual emissions. This shows how the impact on emissions of a cellular broadband network is relatively limited compared to other infrastructure sectors. GHG emissions depend on the share of mobile sites using diesel generators. Switching from diesel to renewable sources reduces CO2 and GHG emissions and has a positive impact on the environment.

So what can this mean for the future of green infrastructure? While the Chile case study gives us a specific example of how broadband can impact emissions there, these impacts could be much larger in countries with a larger share of off-grid mobile towers using diesel generators. At the same time, providing universal connectivity can be an important part of our toolkit to help us reduce emissions around the planet.

We look forward to continuing our research to better understand how more environmentally-friendly broadband infrastructure can be part of long-term policy and planning to support climate change mitigation and adaptation strategies.

Awards Governor DeSantis $11 Million to Support Infrastructure in North Florida Rural Communities

Press Room Team — Tue, 22 Feb 2022 18:50:44 +0000

MADISON, Fla. February 2022.- The Governor Ron DeSantis awarded nearly $11 million to support infrastructure in Madison, Suwannee, and Putnam counties through the Rural Infrastructure fund and the Community Development Block Grant program administered by the Florida Department of Economic Opportunity (DEO). Since the beginning of 2021, Governor DeSantis has traveled the state to award more than $62 million in funding through the Florida Job Growth Grant Fund and more than $800 million through the Community Development Block Grant programs, with a command focus on supporting rural counties and small cities.

“Our administration has focused on investing in meaningful projects that improve infrastructure and create opportunities for employers and families in rural communities,” said Governor Ron DeSantis. “There is strong demand in our state and especially in rural communities for economic expansion and I will continue working with the Florida Legislature to fund projects like these.”

“I am proud to stand with Governor DeSantis as he champions Florida’s rural communities yet again,” said Secretary Dane Eagle. “Under the Governor’s leadership, more than $70 million has been awarded to Florida’s small and rural communities to promote their economic success.”

Through the Rural Infrastructure Fund, Governor DeSantis awarded:

$300,000 to Madison County for preparation of a feasibility study and preliminary engineering services to extend centralized water and sewer services to the route along the Honey Lake health facility clinic.
$340,000 to the City of Palatka in Putnam County for the expansion of a lift station located at St. John’s Avenue and Zeagler Drive in the City of Palatka.

The purpose of the Rural Infrastructure Fund (RIF) Grant is to facilitate the planning, preparing, and financing of infrastructure projects in rural communities which will encourage job creation, capital investment, and the strengthening and diversification of rural economies. The RIF program is intended to facilitate access of rural communities to infrastructure funding programs, such as those offered by the Small Cities Community Development Block Grant, United States Department of Agriculture – Rural Development, and the United States Department of Commerce – Economic Development Administration.

Through the CDBG-CV program we are awarding:

$5 million to Suwannee County for a new multi-use building.
$5 million to the City of Palatka to widen sidewalks and paths in and around the downtown commercial area.

Administered by the Florida Department of Economic Opportunity (DEO), Community Development Block Grant-CV (CDBG-CV) funds are federally awarded by the United States Department of Housing and Urban Development (HUD) and designed to help local governments prepare for, prevent, or respond to the health and economic impacts of the pandemic. The activities must be critical to their locality and primarily for the benefit of low- and moderate-income residents. Local governments are encouraged to include activities that benefit workforce housing, training, and sustainability, as well as broadband infrastructure and planning.

Battles WrapRoof™ Against Material Shortages and Hurricanes with New Product

Press Room Team — Mon, 05 Jul 2021 11:02:47 +0000

MIAMI, July 5, 2021 — As experts warn against another active 2021 hurricane season, roofing material shortages are already causing significant delays for roof replacements. WrapRoof is urging property owners and contractors to plan ahead with its market-leading temporary roofing solution that is quick to install, safe, and reliable. WrapRoof, was awarded over 40 United States Patent Claims for its innovative solution for protecting damaged roofs without adding additional damage or sandbags. WrapRoof is installed with their proprietary membrane and offers nationwide installations with a one-year warranty against leaks.

Insurance companies require homeowners to protect their homes from further damage until a permanent solution is found. As mentioned on FEMA’s website, Operation Blue Roof is intended to last 30 days. Many roofing materials are currently 6 months out. WrapRoof provides the solution that property owners need.

The WrapRoof system:

Is available for all roof types
Is the most effective and safer way to protect roofs damaged by hurricanes
The material is installed without sandbags and without adding any holes into the roof system
Easy to remove
Easy to inspect
Recyclable
Slip resistant
Does not add any further damage to the existing roof system
Waterproof
Has an 18 month UV additive
Prevents mold growth
Offers a smooth and sleek aesthetic while leaving the roof fully functional and leak free

“Time is of the essence when a homeowner has experienced roof damage, so our nationwide team is ready to assist property owners as quickly as possible once damage has occurred,” says Larry Bond, WrapRoof co-owner. “The product is often available within just 48 hours of the initial call and usually installed within a matter of hours.

WrapRoof has installed more than 1,000 units across the United States and has secured over 40 U.S. patent claims. The service and product offered are first of its kind. Its staff and licensed partners are fully trained, provide our top-quality products and ensure exceptional service.

Property owners or Licensed Contractors who are interested in installing this market-leading temporary roofing solution, should contact Marcelo Romero at 1.855.668.2777 or through email at MR@WrapRoof.com Once contacted, a WrapRoof property inspector will visit and provide an estimate for the property owner to obtain approval from its insurance company or adjuster. As soon as it’s approved, WrapRoof will install the warrantied product.

About WrapRoof
WrapRoof is the inventor of the most effective temporary roofing solution available. Its state-of-the art product and service is available nationwide, for both residential and commercial properties. We provide our clients the highest quality of product and exceptional service that is available for all types of roofs.

Mattamy Homes Significantly Expands Footprint in Phoenix’s East Valley

Press Room Team — Fri, 02 Jul 2021 16:46:14 +0000

SCOTTSDALE, Ariz., July 2, 2021 /PRNewswire/ – Mattamy Homes, North America’s largest privately owned homebuilder, is pleased to announce that it has closed on a significant land purchase in the Town of Queen Creek, AZ. The 153-acre property, known as Empire Pointe, will be purchased for a total of $33 million and is approved for 533 home sites. The first phase of the deal closed on Thursday July 1, 2021.

SCOTTSDALE, Ariz., July 2, 2021 /CNW/- Mattamy Homes, North America’s largest privately owned homebuilder, is pleased to announce that it has closed on a significant land purchase in the Town of Queen Creek, AZ. The 153-acre property, known as Empire Pointe, will be purchased for a total of $33 million and is approved for 533 home sites. The first phase of the deal closed on Thursday July 1, 2021.

“Our team is extremely enthusiastic about this major acquisition, as it represents the latest example of our company’s commitment to having an important presence in the East Valley, and of our confidence in the future of housing locally,” says Don Barrineau, President of Mattamy’s Phoenix Division. “Queen Creek is one of the most highly desirable and fastest-growing areas in the market, with good schools, excellent recreation opportunities and up-and-coming employment centers. We’re excited that Mattamy is going to be a big part of the future growth here.”

The acquisition of Empire Pointe, which comes on the heels of Mattamy’s substantial land closing in San Tan Valley last month, represents the largest real estate purchase for Mattamy Homes in Arizona in the last 10 years and the largest for Mattamy Homes US in the last three years.

Mattamy will introduce newly-developed floorplans at Empire Pointe, consisting of 35′-wide, 45′-wide and 55′-wide single-family homes. A centrally located amenity area is anticipated that will include a fitness center, outdoor pool and hot tub, social spaces with seating, fireplace and cooking areas, pickleball and basketball courts, park areas with play equipment, covered ramadas and walking paths. The community will be located at the northwest corner of Empire Boulevard and Gary Road in the Town of Queen Creek, AZ, Maricopa County.

Growth within Queen Creek has been considerable over the last few years, especially given the immense demand for housing across the valley. It was recently ranked a top 10 suburb in the nation to move to in 2021 by homes.com, which noted average home price and quality of schools among other factors in the ranking and transforming this once small town into a thriving community.

Construction of eight model homes at Mattamy’s Empire Pointe community is expected to being in July 2022 with an anticipated community opening in October 2022.

For more information:

https://mattamyhomes.com/arizona/phoenix/

About Mattamy Homes

Mattamy Homes is the largest privately owned homebuilder in North America, with 40-plus years of history across the United States and Canada. Every year, Mattamy helps more than 8,000 families realize their dream of home ownership. In the United States, the company is represented in 11 markets – Dallas, Charlotte, Raleigh, Phoenix, Tucson, Jacksonville, Orlando (where its US head office is located), Tampa, Sarasota, Naples and Southeast Florida – and in Canada, its communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton. Visit www.mattamyhomes.com for more information.

New Study Finds Commercial Construction Facing Shortages Due to COVID

Press Room Team — Fri, 18 Dec 2020 03:15:47 +0000

The Q4 2020 U.S. Chamber of Commerce Commercial Construction Index (CCI), released today, has found that most contractors in commercial construction are fighting materials shortages due to the coronavirus pandemic. In addition, the Index score rose slightly to 60 this quarter, up from 57 in Q3. However, this is still far below the score of 74 from the first quarter of 2020 before the full impact of the pandemic.

This quarter, contractors were much more likely to report shortages of products used in construction and to link those shortages to the pandemic. Forty-one percent of contractors say less availability of building products and materials is a severe consequence of the pandemic, up from just 15% saying the same last quarter. Furthermore, most (71%) contractors say they face at least one material shortage, up 17 points from 54% in Q3. The most reported material shortage is wood/lumber, which has seen higher demand from a boom in residential construction during the pandemic. Now, 31% of commercial construction contractors report a shortage of lumber, up 20 points from 11% last quarter. Of those contractors experiencing shortages, 89% say it is having a moderate to high level of impact on their business, up from 75% saying so in Q3.

Overall, contractors’ outlooks are stabilizing, if not slowly improving. All three of the Index’s main indicators rose: Contractors’ confidence in new business opportunities over the next year inched up one point to 57, revenue expectations increased four points to 52, and backlog rose two points to 70. This mirrors recent federal government data: according to the U.S. Census Bureau nonresidential (commercial) construction spending broke a four-month string of declines by remaining flat in October.

“The pandemic has exacerbated issues contractors were already facing in availability and cost of materials from tariffs and a shortage of skilled workers,” said U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley. “But there’s reason for optimism. More than one in three contractors plan to hire more workers in the next six months, and most see sufficient new business in the coming year.”

“The industry is a positive indicator of where the rest of the economy is going, but it’s likely confidence won’t fully return until companies and workers have the confidence to get back to work safely,” Bradley added. “That’s why the U.S. Chamber is urging lawmakers to come together before the end of the year on additional pandemic relief.”

Material Costs Concerns Remain High

The survey finds that contractors are looking to increase spending on equipment, but many are also focused on fluctuating costs—especially for lumber. More contractors (36%) plan to spend more on tools and equipment in the next six months, up from 30% in Q3, but concern about fluctuations in the cost of building materials remains high. Most (74%) contractors indicate cost fluctuations have a moderate to high impact on their business, up 11 points from 63% in Q3.

Of those who said the fluctuations have a considerable impact, 61% said wood/lumber is the product of most concern, up from 21% in Q3, followed by steel (30%). Meanwhile, a quarter (24%) of contractors say steel and aluminum tariffs will have a high degree of impact on their business in the next three years, although this is down from 29% in Q1, and from 40% in Q4 2019.

Contractor Confidence Improves

Despite ongoing uncertainty over the future of commercial construction, contractors signal that they are cautiously optimistic about their medium to long term prospects. Most (85%) report a moderate to high level of confidence in the construction market to provide enough new business in the next 12 months, up slightly from 83% in Q3, and up 10 points from 75% in Q2.

While the majority (61%) of contractors expect their revenue to remain about the same over the next year, more (25%) expect an increase, up from 22% in Q3, and fewer (14%) expect a decrease, down from 19% in Q3. Additionally, 20% of contractors expect to see profit margins increase over the next year, compared to 17% last quarter.

Additional survey findings include:

A skilled labor shortage is creating challenges. Most (83%) contractors report moderate to high levels of difficulty finding skilled workers. Of those, 83% are asking skilled workers to do more work, 71% report struggling to meet schedule requirements, and 39% are turning down work.
Contractors are more decisive on hiring plans. More contractors (37%) indicate they plan to employ more people over the next six months, up five points from 32% in Q3. Meanwhile, 12% expect to reduce their staffing, also up five points from 7% in Q3.
83% of contractors are experiencing project delays due to COVID-19. Contractors report the average share of delayed projects is 26%. Looking ahead six months, that drops to 18%.
64% say worker health and safety remains a top concern for their business, followed by more project shutdowns/delays (53%), and less availability of building products and materials (41%).

Methodology and Headline Results
The Index is comprised of three leading indicators to gauge confidence in the commercial construction industry, generating a composite Index on the scale of 0 to 100 that serves as an indicator of health of the contractor segment on a quarterly basis. The survey was conducted online from October 1-6, 2020; and November 10-15 for the COVID-19 questions.

The Q4 2020 results from the three key drivers were:

Backlog: The backlog indicator increased by two points to 70 (from 68 in Q3).
New Business Confidence: The overall level of contractor confidence increased to 57 (up one point from Q3).
Revenue: Contractors’ revenue expectations over the next 12 months increased to 52 (up 4 points from Q3).

The research was developed with Dodge Data & Analytics (DD&A) by surveying commercial and institutional contractors.

The Home Depot distributes third quarter dividends of $1.50

Press Room Team — Mon, 23 Nov 2020 01:48:57 +0000

ATLANTA,November, 2020 /PRNewswire-HISPANIC PR WIRE/ — The Home Depot®, the world’s largest home renovation retailer, today announced that its board of directors distributed cash dividends for the third quarter of $1.50 per share. Dividends will be paid on 17 December 2020 to shareholders registered at the close of trade on 3 December 2020. This is the 135th consecutive quarter in which the company pays dividends in cash.

The Home Depot is the world’s largest home renovation retailer with 2,295 retail stores in all 50 states, the District of Columbia, Puerto Rico,the U.S. Virgin Islands, Guam,10 Canadian provinces and Mexico. In fiscal 2019, The Home Depot recorded sales of $110.2 trillion and profits of $11.2 billion. The company employs more than 400,000 partners. The Home Depot shares are traded on the New York Stock Exchange (NYSE: HD) and are included in the Dow Jones industrial average and the Standard & Poor’s 500 index.