Billings Index Sees Record Drop in March
Source: American Institute of Architects Reflecting the deteriorating conditions in the overall economy, demand for design services from architecture firms recorded a record fall, according to a new report from The American Institute of Architects. AIA’s Architecture Billings Index score of 33.3 for March reflects a decrease in design services provided by U.S. architecture firms (any score below 50 […]
ABC: Nonresidential Construction Spending Dips
Source: Associated Builders and Contractors National nonresidential construction spending fell 0.1 percent in March and is up 2.0 percent compared to the same time last year, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $802.6B for the month. Among 16 nonresidential subcategories, 12 […]
Virus Delays Yuma Fairgrounds Relocation Plans
By Bennito L. Kelty for Yuma Sun COVID-19 has delayed activity on the relocation plans for the Yuma County Fairgrounds, officials said. Some funding to begin the process of moving the fairgrounds away from the Marine Corps Air Station – Yuma appeared to be close to being delivered to Yuma County, and the process was expected to begin in July, until the […]
Transforming Schools into Temp. Hospital Centers
By Bob Erickson and Eric Thomson for Corgan Already pressed for capacity, COVID-19 has ushered in an unprecedented demand on our healthcare spaces — spotlighting our dependency on these delicate ecosystems and our need for sustainable, creative solutions that support this critical infrastructure. As experts in healthcare and education design, Corgan tapped its internal research and development team and engaged partners Henderson […]
Ariz. Economy May Expect Solid Recovery
By George W. Hammond for AZ Big Media There is still a huge amount of uncertainty about the future of the outbreak and the economic impacts on the Arizona economy associated with it. Regarding the outbreak, the question at this point is when government and self-imposed social distancing will ease. The April 2020 U.S. forecast from IHS Markit, […]
Impacts on Budget, Lives Could be Dire
By Howard Fischer for Capitol Media Services via Arizona Daily Star The COVID-19 outbreak is going to blow a billion-dollar hole in state finances. And about 775 Arizonans will die by the end of May from the virus. Those predictions from the Joint Legislative Budget Committee as staffers said the decline in state revenues plus additional costs to the […]
Virus Crisis Kills Flagstaff Bond Considerations
By Adrian Skabelund for Arizona Daily Sun During their last work session, the majority on the Flagstaff City Council decided that given the current crisis and uncertainties that exist, it would not be prudent to move forward with any new municipal bonds. Flagstaff Mayor Coral Evans added that she believed, “At this particular time, we need to really focus […]
Construction Unemployment Rate Down Y-o-Y
Source: Associated Builders and Contractors Estimated February not seasonally adjusted construction unemployment rates fell nationally and in 37 states, rose in 12 states and were unchanged in one state (Texas) on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. As of February 2020, the construction industry employed 208,000 […]
Construction Employment Dropped in March
Source: Associated Builders and Contractors Construction industry employment declined by 29,000 in March, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Nonresidential construction employment declined by 24,600 in March. All three nonresidential segments registered job losses, with the largest decrease experienced in nonresidential building (-10,700) followed closely by heavy and civil […]
CRE, Construction Well-represented During Crisis
By Rodric Hurdle-Bradford for Bisnow Gov. Doug Ducey issued a statewide stay-at-home order Monday to stop the spread of the novel coronavirus, while naming essential businesses that can continue operations for now. CRE and construction are still on that essential services list, a status that remained intact after his executive order. “We worked closely with the governor’s office last week to submit […]