Articles from Construction Dive

In the second quarter, the U.S. hotel construction pipeline saw a 3% year-on-year increase. The growth is driven by higher-tier and extended stay hotels, with expansion expected to continue into 2025 according to Lodging Econometrics. This trend highlights a robust demand for luxury and long-term accommodation options.

The Boston-based construction firm Suffolk is expanding its operations in Southern California, focusing particularly on healthcare projects. This strategic move aims to increase its presence in the healthcare sector within the region. According to General Manager Stephen Green, the company sees significant opportunities for growth in the Golden State's healthcare construction market.

Nonresidential construction spending has decreased for the sixth time in seven months. This slowdown is attributed to uncertainties surrounding tariffs and labor, leading many construction owners to delay or cancel planned projects. The challenges in the industry might be linked to external economic factors affecting the overall confidence among stakeholders.

A new white paper highlights the slow adoption of construction technology (contech) as a potential barrier to data center projects, which are crucial for the development of artificial intelligence globally. The report warns that without broader technology implementation, the construction sector might hinder progress in AI advancements. It stresses the need for the industry to embrace innovative technologies to keep pace with the global demand for data infrastructure.

The construction industry faces a shrinking talent pool, prompting a call for new strategies to attract workers back to the sector. Industry expert Ratan Lal suggests various untapped sources to refill the labor supply. This is becoming crucial as the industry continues to witness workforce shortages.

Stanley Black & Decker, the world's largest toolmaker, plans to raise prices again as it navigates an $800 million tariff impact. The company is adjusting its supply chain and implementing a cost reduction program to enhance profitability. These measures are part of its strategy to mitigate the effects of the tariffs.

Granite Construction, in partnership with Japan's Obayashi Corporation, has secured a $158 million contract for a missile defense project in Guam. This project will take place near Marine Corps Base Camp Blaz, where other works are already underway. The joint venture highlights international collaboration in defense infrastructure development. The involvement of Obayashi indicates a strong international interest in this project's execution.

Recently, six construction technology firms attracted a total of $208 million in investment. The capital has been mainly directed towards the development of autonomous machinery retrofits and artificial intelligence solutions. These investments highlight the growing interest in innovative technologies within the construction sector.

A new survey conducted by Gusto reveals that nearly half of the workforce is proactively preparing for changes brought by AI, focusing on safeguarding their financial and vocational prospects. This proactive stance comes amid growing concerns about how AI technologies will reshape the professional landscape. The survey highlights a significant shift in employee attitudes towards technology and its impact on employment.

The Federal Reserve's decision to maintain the current interest rates has disappointed those hoping for a summer cut. Despite this, builders in the construction industry are adapting their strategies to continue their operations. The steady interest rates impact planning and budgeting, requiring adjustments in project approaches to stay competitive.

The recent increase in immigration enforcement on construction sites has led to a rise in worker absenteeism and potential delays in project timelines. Experts predict that there may be a shift in policies addressing this issue in the future. The crackdown is impacting the construction industry's labor pool significantly, with a focus on how it will adapt moving forward.

Mars, the company behind Snickers, plans to invest $2 billion into U.S. manufacturing through 2026. This investment focuses on expanding production capabilities and fostering innovation in the U.S., where most of its products are already produced locally. The initiative aims to ensure that 94% of its U.S.-sold products continue to be made within the country.