Economy: Page 25
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Lenders' top tips for weathering the COVID-19 crisis
The coronavirus pandemic has made contractors’ relationships with their banks more important than ever. Here’s how to ensure a smooth partnership even during difficult times.
By Jennifer Goodman • June 16, 2020 -
Beyond PPP: Federal loans, tax credits for contractors
Here's the lowdown on some options other than the Paycheck Protection Program for financial assistance including Main Street loans and CARES Act tax credits.
By Kim Slowey • June 15, 2020 -
Explore the Trendline➔
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TrendlineTop 5 stories from Construction Dive
Construction Dive editors curate some of the industry’s top stories from this year.
By Construction Dive staff -
PPP loans now only require 60% of funds for payroll use
Several sought-after changes to make the loan program more useful to contractors and others were signed into law by President Donald Trump.
By Robert Freedman • June 8, 2020 -
Photo by Free To Use Sounds on Unsplash
Construction employment sees record rebound in May
New government employment data points to a sooner-than-expected economic recovery, according to ABC economist Anirban Basu.
By Jennifer Goodman • June 8, 2020 -
Permission granted by Messer Construction
Q&AMesser Construction avoids layoffs, prepares for future challenges
Although the Cincinnati-based firm has seen very few projects canceled, company leaders are preparing for a decline in backlog, increased competition and a potential second wave of COVID-19.
By Jennifer Goodman • June 4, 2020 -
Q&A
Gilbane exec: COVID-19 will lead to lower material prices
The coronavirus' impact on the supply chain has been "less than expected," Joe Piro, vice president of supply chain for Gilbane Building Co., told Construction Dive.
By Zachary Phillips • June 2, 2020 -
What new PPP loan guidance means for contractors
The clarifications are intended to make the Paycheck Protection Program more flexible for construction and other businesses while Congress works to expand some of the program's parameters.
By Kim Slowey • June 2, 2020 -
Q&A
Construction industry is like 'a rocket about to take off'
The CEO of one of the country's top electrical subcontracting firms sees U.S. construction slowing, but only temporarily.
By Jennifer Goodman • May 28, 2020 -
Coronavirus has affected construction the most in these 10 states
More than any others, these states are dealing with historic levels of construction unemployment, a decline in jobsite activity and government shutdowns.
By Jennifer Goodman • May 27, 2020 -
PhotoMIX Ltd. via Pexels
Mechanics liens up 40% as COVID-19 pandemic disrupts industry
The increase in liens filed from January through March indicates that contractors and suppliers took action to protect their payments as projects began to shut down in response to the novel coronavirus.
By Kim Slowey • May 21, 2020 -
Contractors challenged by lack of labor, jobsite tension and delays
Even as projects reopen, enhanced unemployment benefits and health fears are keeping construction workers on the sidelines, said experts during a recent AGC webinar.
By Jennifer Goodman • May 19, 2020 -
Q&A
How a Philadelphia contractor is adapting to slower pace of work amid pandemic
Managers at LOTT Restaurant Construction have refined timelines, employed virtual walkthroughs and researched practices from hospital construction to help the firm and clients evolve in a changing business environment.
By Jennifer Goodman • May 19, 2020 -
Permission granted by Austin AGC
Deep DiveHow construction firms can prepare for a potential second wave of COVID-19
Although work is restarting in most jurisdictions, contractors can't let their guard down regarding coronavirus precautions for the future.
By Kim Slowey • May 18, 2020 -
California transit, road work to continue despite $54B state budget deficit
Gov. Gavin Newom's revised budget instructs the state's DOT to accelerate projects and improve roads as a way to restart California’s economy.
By Jennifer Goodman • May 15, 2020 -
What contractors need to know about the Paycheck Protection Program
Attorneys say the big takeaway for construction firms that use PPP loans is to document everything — from the decisions that led to their applications to how they used the proceeds.
By Kim Slowey • May 13, 2020 -
Permission granted by Built Robotics
Backlog, the industry's 'protective shield' continues to decline in every category, region
Some owners are delaying, canceling or rebidding projects in what is perceived to be an emerging buyer's market, said ABC Chief Economist Anirban Basu.
By Jennifer Goodman • May 12, 2020 -
Construction loses record-breaking 975K jobs in April amid pandemic
The March-to-April 2020 drop, representing 13% of the industry's workforce, is its largest ever, according to Associated General Contractors.
By Kim Slowey • May 11, 2020 -
Report: Q1 hotel construction pipeline strong despite pandemic
Hotel projects under construction in the first quarter were at an all-time high, but hotel owners are extending their opening and construction start dates by four to six months.
By Kim Slowey • May 5, 2020 -
Danielle Ternes / Construction Dive
ColumnModular Monitor: Offsite offers unique answers to healthcare systems in a crisis, Part 2
A month after the niche leapt to the occasion to address immediate, mid- and long-term needs, we have a snapshot of its successes and shortcomings, and a revised look at the future.
By Joe Beeton • May 4, 2020 -
Adeline Kon/Construction Dive
Deep DiveThe new normal: 8 ways the coronavirus crisis is changing construction
U.S. jobsites are reopening but construction will not look the same as before the COVID-19 outbreak. Are you ready for the paradigm shift?
By Jennifer Goodman • April 30, 2020 -
Construction materials manufacturer Continental takes heat over $5.5M PPP loan
The 445-employee Continental reported more than $111 million in revenue last year, and some have pointed to the owners' alleged relationship with President Trump as a reason the company was able to secure so much in short order.
By Kim Slowey • April 28, 2020 -
Contractor confidence plummets to record low amid crisis
In the latest Construction Confidence Index from Associated Builders and Contractors, firms reported historic declines in expectations for sales, profit margins and staffing levels.
By Jennifer Goodman • April 24, 2020 -
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Architectural billings continue historic decline
The record drop in demand for design services and new project inquiries reflects the dramatic deceleration of the U.S. economy since the COVID-19 pandemic began.
By Jennifer Goodman • Updated May 20, 2020 -
Cash and the coronavirus: 4 ways contractors can collect and borrow
The ability to maximize cash during and after the pandemic is key to a contractor's survival, financial experts told Construction Dive.
By Kim Slowey • April 22, 2020 -
"Michigan Avenue in the Loop, CDPH Ad to Wash Hands" by Raed Mansour is licensed under CC BY 2.0
In coronavirus crisis, US construction firms begin turning to layoffs, furloughs
After years of not having enough labor, more construction employers are going to start having to turn job seekers away on a large scale, says Associated Builders and Contractors' chief economist.
By Jennifer Goodman • Updated April 14, 2020
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