Caitlin F.’s Post

Navigating the Future of Commercial Construction in Tennessee: Key Trends and Opportunities Tennessee’s commercial construction industry in 2024 reflects national trends but is also shaped by unique regional developments. With increased public infrastructure investments, shifts in private sector funding, and ongoing workforce challenges, here’s a look at the major forces shaping Tennessee’s construction sector: 1. Surge in Public and Private Investment Federal and state funding initiatives, like the Infrastructure Investment and Jobs Act, are driving Tennessee’s infrastructure projects, focusing on roads, bridges, and utilities. This influx of funding is not only stimulating job creation but also raising demand for construction professionals. Additionally, large-scale private projects in manufacturing and data centers are helping to balance a slower retail and office construction market. 2. Sustainability and Smart Technologies Environmental sustainability is increasingly essential in Tennessee’s commercial projects. Many companies are adopting energy-efficient materials and green building practices, while smart technologies are improving operational efficiency. These changes help reduce costs and support environmental goals, mirroring national trends toward eco-friendly construction in anticipation of stricter regulations. 3. Labor Shortages and Workforce Development Construction labor shortages remain a critical challenge in Tennessee, as in much of the U.S. Companies are focusing on workforce development by partnering with trade schools, establishing apprenticeship programs, and enhancing wages and benefits to retain talent. This trend is expected to persist as firms address long-term workforce stability 4. Urban Growth and Multi-Use Developments Nashville and Knoxville are seeing significant residential growth, fueling demand for multi-use projects that combine residential, retail, and office spaces. These developments support the "work-live-play" model and cater to new residents drawn by Tennessee’s favorable business environment and relatively low cost of living. Conclusion: Tennessee’s commercial construction sector is poised for growth, driven by public investment, sustainable practices, workforce development, and urban expansion. Staying competitive will require a focus on technology, workforce solutions, and sustainability as the state continues to attract new businesses and residents.

📉 September Construction Starts Dip, but Major Projects Keep Moving the Industry Forward! Despite a 6% drop in total construction starts in September, the future still looks promising for the construction industry. According to Dodge Construction Network, the total seasonally adjusted annual rate of construction dipped to $1.1 trillion as we kicked off the fall season. However, with expected interest rate cuts in the coming months, steadier growth in construction starts is predicted to emerge by early 2024. Major September projects Include: 🏥 $2.9B UCSF Helen Diller Medical Center in San Francisco 🌊 $848M Hillview Reservoir in Yonkers, New York 💻 $800M Project Cosmo data center in Laramie County, Wyoming 🛣️ $779M bridge projects on I-95 and I-10 in Providence, Rhode Island 🔥 $775M Coolidge Generating Station natural gas expansion in Coolidge, Arizona 🖥️ $666M Microsoft data center in Mount Pleasant, Wisconsin 🏗️ $221M Ray Nashville mixed-use project in Nashville, Tennessee 🏙️ $152M mixed-use project in Jersey City, New Jersey 🏢 $150M Lifetime Living Tower in Phoenix, Arizona Despite the monthly volatility, year-to-date construction starts have remained positive. Overall starts are up 2% compared to the first nine months of 2023. Nonresidential starts grew 2%, with strong activity in commercial sectors like warehouses, offices, and data centers, which pushed starts up by 9% in September. Residential starts also saw a 7% rise year-to-date, though September showed a minor 1% decline. Nonbuilding construction, which includes highways, bridges, and utility plants, decreased by 3% through the first nine months. While manufacturing projects took a hit in September, falling by 30%, the ongoing momentum in sectors like healthcare, office space, and infrastructure signals plenty of opportunity ahead. As interest rate cuts kick in, we can expect more stability and acceleration in project groundbreakings in 2024. As these large-scale projects move forward, the demand for skilled professionals across the construction and engineering sectors will only increase. Recruitment in fields like project management, civil engineering, data center management, and construction logistics will be key to ensuring these projects are successfully completed on time and within budget. Now is the time for companies in the construction industry to proactively build their teams with top talent, particularly as competition for highly qualified professionals will intensify as new projects break ground. Whether you're looking for a new role or you're hiring top talent for your projects, the future of construction is brimming with opportunity! 🚧👷♂️ #Construction #CivilEngineering #Recruitment #CommercialProjects #Infrastructure #GrowthOpportunities #TalentAcquisition #BuildingTheFuture #ConstructionJobs #Hiring

Construction industry analysts are often asked about the breakdown of construction dollars spent by the private sector versus the public sector. For daily news and analysis subscribe to the https://lnkd.in/gkPc4uBJ newsletter. #Construction #Engineering #Infrastructure

5 stats that highlight the urgent need for change in Canada’s building construction industry: 🔄 Aging Infrastructure: Over 50% of Canada’s commercial and institutional buildings were built more than 50 years ago. These older buildings consume a lot of energy, resulting in escalating maintenance costs and inefficiencies. 👷 Skilled Labor Shortages: According to BuildForce Canada, the industry will need to recruit 309,000 new construction workers over the next decade to meet growing demand and replace the 259,100 workers expected to retire—22% of the current workforce. 📉 Productivity Stagnation: Construction productivity in Canada has increased by only 1% per year over the past two decades, significantly lagging behind other industries, contributing to inefficiencies and rising costs. 🌍 Environmental Impact: The construction and operation of buildings account for nearly 40% of Canada’s total carbon emissions, making the industry a critical focus for achieving national climate goals. Commercial and institutional buildings make up 52% of our country's building sector emissions. 💸 High Lifecycle Costs: Up to 75% of a building's lifecycle costs are tied to operations and maintenance, yet many buildings are constructed with insufficient focus on long-term performance, leading to higher ownership costs and frequent repairs.   The industry faces serious challenges, and we need to do better. By adopting existing technologies like unitized systems and fostering collaboration among all stakeholders, we can build better and faster for everyone. A holistic approach is essential to creating resilient and sustainable buildings. By focusing on reducing construction and operating costs while lowering greenhouse gas emissions and energy consumption, we can drive positive change and contribute to sustainable development in the built environment. Let’s work together to build better and make a positive impact on the world. These are just 5 stats. What other stats reveal the need for change in the building construction industry? Share yours below!

Modern Methods of Construction (MMC) offer the opportunity to rethink how we design and build much-needed housing. Governments are now leaning into this space with significant investments. The productivity dividend is clear, but what are the jobs and skills implications of MMC? https://lnkd.in/gdkqV9sS

Arcadis' 2024 International Construction Costs report reveals a shift in the rankings of the most expensive cities to build in, with Sydney experiencing the most significant decline among Australian cities. Despite rising construction costs globally, Australian cities have seen a drop in their positions, with Sydney now ranking 48th globally. This reflects the broader challenges facing the construction industry, including inflation and currency fluctuations. The report also highlights London's ascent to the top spot, overtaking cities like Geneva and Zurich, driven by high specifications related to safety and sustainability. With the global construction market at a critical juncture, the report underscores the importance of enhancing productivity and collaboration to improve project delivery and manage financial risks effectively. For those of us in the built environment, these insights are crucial as they influence project planning and execution strategies. The full report offers a deeper dive into these trends and more, providing valuable guidance for navigating the complexities of the global construction landscape. https://lnkd.in/eQ4_f5wZ .

Midyear update projects construction spending to gain momentum this year, but stall in 2025. These are key conclusions from the mid-year update by the AIA Consensus Construction Forecast panelists, a group comprised of the leading construction forecasters from across the country.

In #September2024, #US #construction spending reached an annual rate of $2.14 trillion, marking a 0.1% increase from August and a 4.6% rise from #September2023. #Residential and #public #construction showed gains, with private #nonresidential spending slightly down. https://lnkd.in/eRPk9-pp https://lnkd.in/d8xXxMef

A successful construction industry relies on predictability and confidence, which have been in short supply in the UK in the last year whilst we waited for a tired government to call an election. A week after Labour achieving a clear majority, leaders of the UK’s design and construction firms are sharing a sense of hope, as the cloud of uncertainty has lifted, and optimism that the new government will have its sights set on providing a platform for growth and stability. Despite the fiscal tightness, they certainly seem to be working on this, at pace. The incoming government's commitment to a clear infrastructure development plan and industrial strategy is an eagerly awaited beacon of stability. Clarity of the future pipeline is not just a roadmap for our projects; it's an invitation to invest, to nurture skills, and to bolster growth in our sector. UK engineering consultancies, with their focus on innovation, AI deployment and the pursuit of a lower energy and embodied carbon future, can deliver, efficiently and effectively. If risk management and future clarity go hand in hand, we’ll have a framework to navigate our transformative work confidently. Long awaited planning reform is on the horizon, promising to rejuvenate house building and the development of new towns. This is not just about structures; it's about creating communities, enabling businesses, and fostering industries to flourish. However, if we are going to accelerate the time from land acquisition to the delivery of new homes, innovation in design and procurement will need to be at the forefront, leveraging Information Management and Modern Methods of Construction, so that we pave the way for reliable, repeatable solutions with minimal waste, reducing the carbon footprint of the construction sector further, in line with the UK’s and the its construction industry’s commitments. We're talking about a future where energy, transport, rail, new houses, and new towns are not just plans but realities taking shape before us and where UK and International investors have the confidence to commit. To achieve this, the public and private sectors need to collaborate, with each other and with the engineers and consultants that support them, whilst building mutual trust and respect. This is the foundation upon which we will build our future successes. Buro Happold will be 50 in the course of the next parliament. Fifty years of client focussed, innovative collaboration, of thinking outside the box whilst we endeavour to ‘touch the earth lightly’. Together, with clients and collaborators, we will unlock new opportunities with clients and collaborators and achieve the growth and stability that the UK construction sector deserves. #ConstructionIndustry #InfrastructureDevelopment #Innovation #Collaboration #UKGovernment Buro Happold Association for Consultancy and Engineering (ACE)

Construction in England is a dynamic and diverse industry that plays a significant role in the country's economy and infrastructure development. Here are some key aspects of construction in England: - Regulations and Standards: The construction industry in England is governed by strict regulations and standards to ensure the safety, quality, and sustainability of buildings and infrastructure. These regulations cover areas such as building codes, health and safety requirements, environmental standards, and planning permissions. - Housing: The demand for housing in England remains high, leading to a steady flow of residential construction projects. From traditional detached houses to modern apartment complexes, the construction of new homes is a major focus for developers and builders. - Infrastructure: England is continually investing in infrastructure projects to improve transportation, utilities, and public services. This includes the construction of roads, bridges, railways, airports, energy facilities, and water treatment plants. - Urban Development: Cities and towns across England are experiencing rapid urbanization and redevelopment. Construction projects often involve the revitalization of brownfield sites, the construction of mixed-use developments, and the preservation of historic buildings. - Sustainability: There is a growing emphasis on sustainability in construction, with a focus on energy efficiency, renewable materials, and eco-friendly building practices. Many construction projects in England incorporate sustainable design principles to reduce environmental impact and meet green building standards. - Skilled Workforce: The construction industry relies on a skilled workforce of architects, engineers, tradespeople, and laborers. Training and apprenticeship programs help develop the next generation of construction professionals, ensuring a steady supply of skilled workers. - Technology Adoption: Technology is playing an increasingly important role in construction processes and project management. Building Information Modeling (BIM), drones, virtual reality, and other digital tools are being used to improve efficiency, accuracy, and communication on construction sites. Overall, construction in England is a dynamic and evolving industry that faces challenges and opportunities in meeting the country's infrastructure needs while embracing innovation and sustainability.