National Equipment Dealers, LLC Acquires Three Independent Equipment Dealers in Fastest Growing Regions in the USA

National Equipment Dealers, LLC Acquires Three Independent Equipment Dealers in Fastest Growing Regions in the USA

In a multi-faceted transaction that closed on Friday, January 5, National Equipment Dealers acquired Four Seasons Equipment, May Heavy Equipment, and Earthmovers Equipment, as well as some assets of International Iron.

This is a truly exceptional opportunity for NED to expand in what is recognized as the three fastest growing economic areas in the US: Texas (Houston and Dallas), the Carolinas (Raleigh, Lexington, Charlotte, Columbia, Greenville/Spartanburg, Charleston) and Florida (Orlando).

Financing for the merger and ongoing operations was supplied by a syndication of four banks led by BOK Financial. The other participating banks are Fifth Third Bank, Bank of the West and First Tennessee Bank.

Mitch Nevins, CEO, and Kerry Vickar, Chairman, state that employees of each company are expected to continue their respective jobs in the same previous manner as no operational changes will be made upon bringing these businesses together. They believe collective success will be realized by all employees working together, sharing best business practices and equipment fleets, and benefitting from the synergies of a larger company footprint.

Collectively NED represents 10 major manufacturers across a three-state territory, each embracing the combined operations in NED. It is expected that there will be a significant growth in size, both in terms of the number of locations and employees, as well as by geographic diversification, that will provide substantially enhanced opportunities for them as well as NED.

FCA Announces Plan to Invest More than $1 billion in Michigan Plant, Add 2,500 New Jobs and Pay $2,000 Bonus to U.S. Employees; Actions Supported by U.S. Tax Reform

  • Investment will modernize Warren Truck Assembly to produce Ram Heavy Duty
  • Ram Heavy Duty truck production will relocate from Mexico to Michigan in 2020
  • Plant will add 2,500 new U.S. jobs to support production of heavy-duty truck
  • Approximately 60,000 FCA employees in the U.S. will receive special bonus payment
  • Total U.S. investment grows to more than $10 billion since 2009, with over 25,000 jobs created to date
  • Production move solidifies the U.S. as the global manufacturing hub for Ram products

FCA announced today two actions made possible in part by the passage of U.S. tax reform legislation late last year – an additional investment in its U.S. manufacturing operations and a special payment to recognize employees for their continued efforts towards the success of the Company.

First, the Company confirmed that it will invest more than $1 billion to modernize the Warren Truck Assembly Plant (Michigan) to produce the next generation Ram Heavy Duty truck, which will relocate from its current production location in Saltillo, Mexico, in 2020. This investment is in addition to the announcement made in January 2017 which committed to spending a portion of $1 billion in Warren Truck Assembly to expand the Jeep® product line with the addition of the all-new Jeep Wagoneer and Grand Wagoneer. The Saltillo Truck Assembly Plant will be repurposed to produce future commercial vehicles for global distribution.

To support the increased volume at the Warren facility, 2,500 new jobs will be created, above and beyond the jobs announced as part of the January 2017 announcement.

Second, the Company confirmed that it will make a special bonus payment of $2,000 to approximately 60,000 FCA hourly and salaried employees in the U.S., excluding senior leadership. The payment, which recognizes employees for their continued commitment to the Company’s success, will be made in the second quarter of this year, and will be in addition to any profit sharing and salaried performance bonuses that employees would otherwise be eligible to receive in 2018. The special bonus will be paid to all eligible employees of the FCA automotive and components operations in the U.S.

“These announcements reflect our ongoing commitment to our U.S. manufacturing footprint and the dedicated employees who have contributed to FCA’s success,” said Sergio Marchionne, Chief Executive Officer, FCA. “It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the U.S. business environment by investing in our industrial footprint accordingly.”

Investment in U.S. Manufacturing Grows
FCA has invested $10 billion in its U.S. manufacturing operations since June 2009. Most recently, the Company announced investments totaling $3.5 billion, with the addition of 3,700 new jobs, to strengthen its U.S. manufacturing base, and align U.S. capacity to extend the Jeep and Ram product lines.

Those investments and related actions involved production shifts at three plants in Illinois, Ohio, and Michigan to gain the capacity for the Jeep Cherokee, Jeep Wrangler and Ram Light Duty truck, and the introduction of three new Jeep models at plants in Ohio and Michigan.

The investments include:

  • $350 million in the Belvidere Assembly Plant (Illinois) to produce the Jeep Cherokee, which moved from Toledo, Ohio in 2017. More than 300 new jobs were added to support production.
  • $700 million in the Toledo Assembly Complex (Ohio) to retool the North plant to produce the next generation Jeep Wrangler. Approximately 700 new jobs will be added to support production.
  • $1.5 billion in the Sterling Heights Assembly Plant (Michigan) to build the next generation Ram 1500 truck. More than 700 new jobs will be added to support production.
  • $1 billion in the south plant of the Toledo Assembly Complex to prepare the facility to produce an all-new Jeep truck, and in the Warren Truck Assembly Plant to modernize the plant to build the all-new Jeep Wagoneer and Grand Wagoneer. More than 2,000 new jobs will be added at these two plants to support production.

The plant investment actions announced today are subject to the negotiation and final approval of incentives by state and local entities.

About FCA
Fiat Chrysler Automobiles N.V. (“FCA”), the seventh-largest automaker in the world based on total annual vehicle sales, is an international automotive group. FCA is listed on the New York Stock Exchange under the symbol “FCAU” and on the Mercato Telematico Azionario under the symbol “FCA.”

Industry Professionals from 34 States on Roster of “Safety Certified” Transportation Project Professionals

Industry professionals from 34 states, representing 43 companies and state agencies have earned the “Safety Certification for Transportation Project Professionals™” (SCTPP) credential between the September 2016 launch and December 2017, the American Road & Transportation Builders Association (ARTBA) Foundation announced today.  The certification is valid for three years.

The SCTPP program is aimed at the thousands of transportation project workers, supervisors, foremen, inspectors, managers, manufacturers and materials suppliers, designers, equipment operators and owners who could make a huge, industry-wide safety impact by learning core competencies necessary to identify and mitigate potentially life-threatening on-site risks.

The list of “Safety Certified Transportation Project Professionals” includes:

  • Juan Abrigo, Area Safety Manager, Austin Bridge & Road, L.P., Irving, TX
  • Jes Allen, Superintendent, Zachry Construction Corporation, Cornelius, NC
  • David Asselin, Safety Director, Ranger Construction Industries, Port St. Lucie, FL
  • Harvey Baggett, Corporate Safety Director, J. F. Shea Construction, Inc., Stephens City, VA
  • Mannie Barnes, Construction Manager, Atkinson Construction, Kent, WA
  • Tyler Bean, HSE Regional Manager, Allan Myers, Worcester, PA
  • Trenton Beeler, Safety Manager, Austin Commercial, Sherman, TX
  • Tim Beguin, Corporate Safety Director, Wiregrass Construction Company, Inc., Decatur, AL
  • Raymond Berrios, Safety Director, Ranger Construction Industries, West Palm Beach, FL
  • Peter Berrios, Safety Director SE Region,  OHL Community Asphalt, Miami, FL
  • Jason Boland, Project Engineer II, Allan Myers, Virginia Beach,  VA
  • Robert Boyle, Construction Manager, MBP, Shawboro, NC
  • Tyler Bradford, Senior Construction Engineer, Parsons, Fresno, CA
  • Josh Brown, HSE Manager, Allan Myers, Williamsburg, VA
  • Travis Browning, Field Safety Manager, Superior Construction Company, Jacksonville, FL
  • Kenneth Burge,  Area Safety Manager, J.D. Abrams, L.P., Santa Fe, TX
  • Dennis Burks, Safety Director, HNTB Corporation, Kansas City, MO
  • Ruben Canales, Sr., Safety Manager, Zachry Construction Corporation, Richmond, TX
  • Javier Cano, Safety Coordinator,  Zachry Construction Corporation, San Antonio, TX
  • Mickey Carr, Safety Director, Chemung Contracting, Mitchells, VA
  • James Deacon, Safety Manager, Allen Myers, Coopersburg, PA
  • Robert Clark, Project Manager, Superior Construction Company Southeast, LLC., Jacksonville, FL
  • Keith Clay, Safety Manager, John R. Jurgensen Company, Hamilton, OH
  • Sean Conard, Fleet Safety Director, Allan Myers, Williamsburg, VA
  • Brian Connolly, Regional Equipment Manager, Superior Construction Company, Frankfort, IL
  • David Cope, Environmental Manager, Austin Bridge & Road, L.P., Rockwall, TX
  • David Dostaler, Corporate HSE Director, Kraemer North America, LLC,  Castle Rock, CO
  • Bruce Drewes, Instructional Consultant, 3T Group, Boise, ID
  • Steven Durbin, Area Safety Manager, The Lane Construction Corp, Follansbee, WV
  • Arthur  Emerson, Safety Director, Bryant Contracting INC., Toano, VA
  • Charles Esmacher, Field Representative, HNTB Michigan, Grosse Pointe Park, MI
  • Daniel  Estry, SR Safety Supervisor, LANE, Lakeland, FL
  • John Farrell, Regional HSE Manager, Allan Myers, Pottstown, PA
  • Colin Faulkner, Safety Director, ATS Construction, Lexington, KY
  • Michael Ferry, Safety Director, O&G Industries, West Hartford, CT
  • William French, Sr., Safety Manager, Austin Commercial, Dallas, TX
  • Christopher Frum, Safety Manager, Wagman Heavy Civil, Petersburg, VA
  • Alfred Garcia, Project Safety Manager, Zachry Construction Corporation, Port Lavaca, TX
  • Cory Gaye, Corporate Safety Director, Wagman, York, PA
  • Christopher Gilsdorf, Safety Engineer, Kraemer North America, Madison, WI
  • Christine Goins, Assistant Resident Engineer, RK&K, Wake Forest, NC
  • Pastor Gonzalez, Project Administrator, RK&K, Cutler Bay, FL
  • David Graham, Corporate Safety Director, B.A.T.S. Traffic Solutions, Anaheim, CA
  • Jennica Greffe, Project Manager, Superior Construction, Jacksonville, FL
  • Michael Grisko, Instructor, Local 172 SET, Folsom, NJ
  • Seth Hall, Field Safety Manager, Superior Construction, West Palm Beach, FL
  • Brody Hambright, Survey, Wright Brothers, Charleston, TN
  • Jeff Hanson, Vice President HSE & Risk, United Infrastructure Group, Inc., Great Falls, SC
  • Tony Hemmerly, Assistant Project Manager, Superior Construction Company SE, Jacksonville, FL
  • Randy Henson, Division Safety Manager, Zachry Construction Corporation, Grand Prairie, TX
  • Adam Hill, Safety Coordinator,  Road-Con Inc., West Chester, PA
  • James Hinkle, Lead Engineer, MBP, Salem, VA
  • Justin Hobson, Safety Director, Talley Construction, Chattanooga, TN
  • Christopher Hughes, Project Engineer, Ohio Department of Transportation, Delphos, OH
  • Chris Iungerich, Safety Manager, Austin Bridge & Road, L.P., San Antonio, TX
  • Elisha Johnson, Field Manager,  Allan Myers, Richmond, VA
  • Gunnar Johnson, Field Engineer, Zachry Construction Corporation, Houston, TX
  • Nick Kaminer, Engineer, Key Constructors, LLC, Madison, MS
  • Peter Kaplan, Project Safety Manager, Wagman Heavy Civil, Baltimore, MD
  • Bruce Kay, Vice President of Construction Services, AECOM, Sewell, NJ
  • Edward Kernaghan, Vice President/General Manager, J F Shea Construction, Red Bluff, CA
  • Lucas Kessling, Project Manager, The Lane Construction Corporation, Shorewood, IL
  • Mindy King, EHS, RK Hall, LLC, Texarkana, AR
  • Matthew, Koss, HSE Manager, Allan Myers, Baltimore, MD
  • Joseph Landino, Safety Director, Ajax Paving Industries, Inc., Troy, MI
  • Billy Laney, Safety Manager, Wiregrass Construction, Double Springs, AL
  • Evan Lawrence, Project Manager, Superior Construction Company, Panama City Beach, FL
  • Don Lindert, Jr., Safety Manager, Austin Commercial, Ovilla, TX
  • Gregory Linenfelser, HSE Professional, Transurban, Alexandria, VA
  • Matt Lunzman, Superintendent, Hawkins Construction, Lincoln, NE
  • Thomas Maier, Risk Advisor, IMA Inc., Raymore, MO
  • Francis B. Maline, Project Safety Manager, Lane Construction Corporation, Westchester, IL
  • Jose Manzano, Safety Inspector, CW Roberts Contracting, Tallahassee, FL
  • Thomas  Markle, Area Safety Manager, Lane Construction, Windsor, ME
  • Eli Martinez, Safety Manager, Austin Commercial, Dallas, TX
  • Timothy Maxwell, Project Engineer, Wright Brothers Construction Company, Inc., Asheville, NC
  • Edward Mays, Field Safety Coordinator, Barriere Construction LLC, Metairie, LA
  • Tobias Mazzoni, Project Manager, Superior Construction, Jacksonville, FL
  • Russell McElroy, Senior Safety Supervisor, Lane Construction, Charlotte, NC
  • Joel McGlothlin, Area Safety Manager, Austin Commercial, Mansfield, TX
  • Matthew McMillan, Project Manager, Kiewit Infrastructure South Co, Peachtree City, GA
  • Robert Medina, Safety Officer, Hellman Electric Corporation, Bronx, NY
  • Seth Medwick, Department Head, HNTB, New York City, NY
  • Sue Mendoza, Senior Safety Supervisor, The Lane Construction Corporation, Justin, TX
  • James Milner, Project Manager, Superior Construction Company Southeast, LLC., Jacksonville, FL
  • Mason Mimnaugh, HSE Manager, Allan Myers, Philadelphia, PA
  • Robert Montel, Safety Manager, Rieth-Riley Construction Co., Inc., Goshen, IN
  • Mauricio Montoya, HSE Specialist, Allan Myers, Richmond, VA
  • Robert Munoz, Senior Safety Supervisor, The Lane Construction Corporation, Lakeland, FL
  • John Calvin Myers, RK&K, Richmond, VA
  • Anthony Nanfro, Superintendent, Zachry Construction Corporation, Magnolia, TX
  • Frank Nesbitt, Senior Safety Supervisor, Lane Construction, West Columbia, SC
  • Gregory Nowak, Safety Representative, J.F. Shea Construction, Valparaiso, IN
  • Frank Ortega, Safety Manager, Superior Construction Company, Orlando, FL
  • William Pedigo, Safety Director, Austin Bridge & Road, L.P., Irving, TX
  • Timothy Penrose, Senior Civil Engineer, PA Department of Transportation, Bethlehem, PA
  • Todd Pfeiffer, VP Safety, Preferred Materials, Inc., Land O Lakes, FL
  • Ron Phillips, Sr. Safety Supervisor, Lane Construction Corporation, Fredericksburg, VA
  • Joseph Polansky, Director of HSE, Fred Smith Construction, Raleigh, NC
  • Stephanie Powers, Area Safety Manager, Lane Construction Corporation, Falls Church, VA
  • Darrell Pruitt, Regional Safety Director, Superior Construction Company, Montezuma, IN
  • David Putnam, HSE Manager,  Allan Myers, Havre de Grace, MD
  • Roger Rister, Safety Manager, Parsons Construction Group, Crown Point, IN
  • David Roberson, Building Division Safety Manager, Zachry Construction Corporation, Seguin, TX
  • Emmett Russell, Safety Training Consultant, Safety Training Consultant, Upper Marlboro, MD
  • Richard Salcido, EHS Manager, The Ashton Company, Tucson, AZ
  • Mark Sanders, Safety Manager, HDR/ICA, Barlow, KY
  • Mike Scarborough, Senior Safety Director, Ranger Construction Industries, Inc., West Palm Beach, FL
  • Doug Schultz,  President, Herlihy Mid-Continent Company, Romeoville, IL
  • Michael D. Scolforo, Area Safety Manager, The Lane Construction Corporation, Lee, MA
  • John Scurek, Safety, Health & Environmental Manager, Parsons, Georgetown, TX
  • Jacob Selby, Field Engineer, Zachry Construction Corporation, North Richland Hills, TX
  • Khanjan Shah, Construction Project Engineer, RK&K, Laurel, MD
  • David Sherwood, CEO, Sherwood Construction, Tulsa, OK
  • Jeffrey Sienkiewicz, Project Manager, Zachry Construction Corporation, Flower Mound, TX
  • Sean Simpson, HSE Specialist, Allan Myers, Baltimore, MD
  • Erick Smith, Project Manager, The Lane Construction Corporation, Shorewood, IL
  • Bruce Sparrow, Project Engineer, Ooltewah, TN
  • Randy Spurlock, Safety Manager, Allan Myers, Bel Air, MD
  • Clay Stark, Project Manager,  Austin Bridge & Road, Midlothian, TX
  • Terry Stephens, Area Safety Manager, Austin Bridge & Road, L.P., Irving, TX
  • Don Stephens, Safety Manager, Zachry Construction Corporation, San Antonio, TX
  • Alissa Sternagle, Area Safety Manager, Lane Construction, Charlotte, NC
  • Bryan Stone, Safety Director, Superior Construction Company, Jacksonville, FL
  • Chad Stone, EH&S Manager, RK Hall LLC- Summit Materials, Paris, TX
  • Michelle Teets, Mid-Atlantic Regional Safety Manager, Lane Construction Corporation, Norfolk, VA
  • Justin Templet, Safety and Claims Coordinator, Barriere Construction, Metairie, LA
  • Nathan Terry, Structures Superintendent, Zachry Construction Corporation, Porter, TX
  • William Tyson, Director Labor Relations, General Contractors Association of NY, New York, NY
  • Cheyenne Urban, Safety Representative, Austin Bridge & Road, L.P., Frisco, TX
  • Steven Ward, Safety Director, Advanced Workzone Services LLC, Muskogee, OK
  • Joseph Warren, HSE Specialist, Allan Myers, Virginia Beach, VA
  • Douglas Westervelt, Director of Safety Operations, Crossland Construction Company, Columbus, KS
  • Justin White, Senior Project Manager/Estimator, Barriere Construction, Covington, LA
  • Derek  Yeckel, HSE Specialist, Allan Myers, Fredericksburg, VA
  • Steven Yeckel, HSE Manager, Allan Myers, Stafford, VA
  • Joseph Yuhas, Technical Consultant, Liberty Mutual Insurance, Minneapolis, MN
  • Todd Zimmerman, General Superintendent, Crossland Heavy Contractors, Columbus, KS

The two-and-a-half hour exam contains up to 120 multiple-choice questions that probe knowledge in assessing project risks, creating project safety plans, implementing and conducting on-going evaluation of a site-specific operational safety plan, and conducting incident investigations.  It has been designed to meet the rigorous protocols required for accreditation by the American National Standards Institute (ANSI) and the International Organization for Standardization ISO/IEC 17024: “Conformity Assessment: General Requirements for Bodies Operating Certification of Persons.”

Eight courses to help prep for the exam are available via the ARTBA Online Learning Center (OLC).

Additional information about the SCTPP credential and the OLC can be found at www.puttingsafetyfirst.org.

The ARTBA Foundation, a 501(c)(3) tax-exempt entity established in 1985, supports a wide portfolio of programs and activities, including educational scholarships, awards programs, professional development courses, safety training, a national exhibition on transportation and a facility dedicated to improving safety in roadway construction zones.

Michelin Tweel Airless Radial Skid Steer Loader Tire Now Available as Factory Option on All CASE Skid Steer Loader Models

Michelin North America, Inc., is partnering with CASE Construction Equipment to add the MICHELIN® 10N16.5 and 12N16.5 X® TWEEL® SSL as factory-approved/supplied option for skid steers loaders. The single unit SSL airless radial tire will be available as an original equipment (OE) option on all CASE skid steer loader models in 2018. The SSL All-Terrain version is designed for rugged off-road working conditions and, a viable option for industries such as construction, landscaping, and agriculture.

“This is a win-win for Tweel SSL and CASE customers,” said Justin Brock, Michelin construction segment marketing manager in North America. “Building relationships in the market is our goal. The market demand for Michelin X Tweel SSL continues to increase. More and more end users are searching for solutions that reduce downtime. The Tweel SSL provides the users this solution, without compromising key deliverables including traction, operator comfort, and machine productivity. With uptime so crucial for customers, the MICHELIN X Tweel provides an unparalleled solution.”

The TWEEL offers the advantages of no maintenance, no compromise, no downtime — the X TWEEL SSL requires no air, thereby eliminating the risk of a “flat tire” and allowing users to stay in operation with limited downtime to maximize profitability and cost per hour from the solution. The X TWEEL SSL also delivers the advantages of easy mounting, damage resistance, exceptional operator comfort, reduced operator fatigue, improved productivity and longer wear life than standard pneumatic tires. The AT models feature a deep open tread design for excellent cleaning and traction, and a deep layer of undertread allows the core to be retreaded. For more information on the Michelin X Tweel SSL, visit MichelinTweel.com. For more information on CASE skid steer loaders, visit CaseCE.com.

CASE Construction Equipment is the first skid steer loader OEM to offer the Michelin X Tweel SSL Airless Radial Tire at time of purchase

CASE Construction Equipment announces the availability of Michelin® X® Tweel® SSL All-Terrain Airless Radial Tires as a factory-approved/supplied option on all skid steer loader models. Airless radial tires perform just like a pneumatic tire, but without the risk and costly downtime associated with penetrations and impact damage. CASE is the first skid steer loader OEM to offer the Michelin X Tweel SSL from the factory.

The Michelin X Tweel SSL is one single unit, replacing traditional tire/wheel/valve assemblies. There is no need for complex wheel/tire mounting equipment. There is no air pressure to maintain once each tire is bolted on. The AT models feature a deep open tread design for excellent cleaning and traction, and a deep layer of undertread allows the core to be retreaded many times.

“CASE offers a broad range of skid steer tires to meet the needs of a variety of applications from general dirt work and landscaping, to road-building, excavation and mining/aggregate environments,” says George MacIntyre, product manager, skid steer loaders, Case Construction Equipment. “The addition of airless radial tires to our lineup of factory-available options expands our current offering and shows our commitment to advanced technology, as well as our dedication to providing our customers with a growing array of machine options that can have a positive impact on total cost of ownership.”

The Michelin X Tweel SSL provides outstanding stability and enables a skid steer loader to work rapidly with more comfort for the operator, reducing driver fatigue while improving productivity. It delivers a consistent footprint with strong wear life that is two-to-three times that of a pneumatic tire at equal tread depth. The proprietary design provides great lateral stiffness while resisting damage and absorbing impacts. Additionally, the unique energy transfer within the high-strength poly-resin spokes reduces the “bounce” associated with pneumatic tires.

For more information on the Michelin X Tweel SSL, visit MichelinTweel.com. For more information on CASE skid steer loaders, visit CaseCE.com.

About the MICHELIN

Dedicated to the improvement of sustainable mobility, Michelin designs manufactures and sells tires for every type of vehicle, including airplanes, automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks, and motorcycles. The company also publishes travel guides, hotel and restaurant guides, maps and road atlases. Headquartered in Greenville, S.C., Michelin North America, Inc. (www.michelinman.com) employs more than 22,650 and operates 20 major manufacturing plants. To learn more about truck tires and services, visit www.michelintweel.com.

ABC Reports: Nonresidential Construction Employment Ends 2017 on a High Note

The nonresidential construction sector added 11,800 net new jobs in December, representing nearly 10 percent of the nation’s jobs created during the month, according to an Associated Builders and Contractors (ABC) analysis of data released today by the Bureau of Labor Statistics. The nation’s overall construction sector added 30,000 net new jobs in December, a 0.4 percent month-over-month increase.

Construction easily embodies the most positive news emerging from today’s national unemployment report. Although both nonresidential building construction (-1,300 net jobs) and heavy and civil engineering (-700 net jobs) were down for the month, job gains were driven by nonresidential specialty trade contractors (+13,800 net jobs). Year-over-year construction employment is up by 210,000 positions, the most since September 2016.

The construction industry unemployment rate, which is available only on a nonseasonally adjusted basis, increased by 0.9 percentage points and now stands at 5.9 percent. The unemployment rate for all nonfarm industries—a figure that is seasonally adjusted—remained unchanged at 4.1 percent for the third consecutive month at a 17-year low.

“Today’s overall job growth number fell short of expectations, but the construction employment numbers surprised to the upside,” said ABC Chief Economist Anirban Basu. “It is likely that some of this is due to ongoing rebuilding efforts after hurricanes and wildfires. We will have a better sense of this once state-level employment figures become available. To the extent that construction job growth, whether residential or commercial, is disproportionately concentrated in states like California, Texas, and Florida beyond pre-disaster norms, one can infer that rebuilding efforts are responsible for at least some of the surge in construction job growth.

“That said, a strengthening U.S. economy is likely responsible for the bulk of construction job growth. Consumer and business confidence have been surging recently,” said Basu. “The recently passed tax cuts will add additional liquidity to the U.S. economy, which should translate into faster consumer and business spending growth. Positive wealth effects from housing and financial markets as well as an improving global economy are also helping to push the economy forward. Higher energy prices and bitterly cold temperatures are also stimulating investment among energy suppliers.

“Despite the recent pickup in the pace of economic growth, interest rates remain remarkably stable,” said Basu. “Among other things, lower interest rates benefit both owners and developers of real estate. This should help translate into growth in activity in a number of private construction segments. As yesterday’s construction spending data indicated, there is also growing momentum in a number of public construction segments, a reflection of improving state and local government finances in much of the nation due in part to stronger residential markets and solid income tax collections. All of this suggests that the average contractor should be eagerly looking forward to 2018. Elevated contractor optimism is consistent with leading indicators like ABC’s Construction Backlog Indicator and Construction Confidence Index. Both of these indicators have been pointing to stronger construction spending and increased staffing levels for months.”

 

 

 

 

 

 

 

 

 

 

 

 

Visit ABC Construction Economics for the Construction Backlog Indicator, Construction Confidence Index and state unemployment reports, plus analysis of spending, employment, GDP and the Producer Price Index