The Hudson Tunnel project not only will upgrade a more than 100-year-old passage between New Jersey and New York — ensuring that one of the greatest flows of people and commerce continues for the next 100 years — it will be a massive economic multiplier in the region during construction. A new report by the Regional Plan Association, released Monday, estimated the more than $17 billion project essentially will pay for itself, generating $19.6 billion in economic activity and creating approximately 95,000 jobs during its construction. The job estimate represents an increase of 20,000 jobs over previous estimates. The report utilizes research done on behalf of the Gateway Development Commission (GDC) that found the three early works components of the Hudson Tunnel Project currently underway, which represent roughly $1 billion in awarded contracts, will yield 7,500 jobs and generate $625 million of labor income. The new estimates of the project’s overall impact were obtained by extrapolating this analysis over the $16 billion in total construction spend for the Hudson Tunnel Project.
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Arkansas’ construction sector has seen significant growth in early 2024, reflecting a robust economic expansion. Highlights: Job Growth: construction jobs increased from 61,200 in January 2023 to 67,500 in January 2024. Building Permits: February and March 2024 saw significant increases in building permit values compared to 2023. Economic Indicator: the construction sector's growth outpaced overall state employment growth. Regional Gains: notable growth observed across Fort Smith, Northwest Arkansas, Central Arkansas, and the Jonesboro Metro area. Market Resilience: the housing market remains strong despite higher interest rates and inflation.
‘Remarkable growth’ noted in Arkansas’ construction sector to begin 2024 - Talk Business & Politics
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4 charts break down winning, losing sectors in 2024 As the new year begins, it’s evident that certain types of construction will enjoy a surge in activity throughout 2024. On the flip side, some sectors continue to grapple with challenges that are likely to persist over the next 12 months. Roadway construction could really get rolling in 2024. About 63%, or nearly $400 billion for over 400,000 projects, of infrastructure funding has thus far been announced since President Joe Biden signed into law the Infrastructure Investment and Jobs Act two years ago. “One of the big assumptions we made way back in 2021 was that 2023 and 2024 would be the best years for growth and infrastructure. I think there’s reason to believe, though, that that can maybe be more like 2024 and 2025.” If you are in need of high-level individuals in Construction, Estimation, Engineering or Management, or you would like to work on award-winning, high-profile projects, message me directly or reach out to james.oleary@imperium-global.com Imperium Global https://lnkd.in/eGGYjZBY
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The latest economic analysis on the construction sector makes for sobering reading, but there is some good news with commercial, refurb and fit-out enjoying stronger levels of activity, and a prediction of positive growth by 2025 as larger office and leisure projects resume 📈 We’ll keep a close eye on the next economic analyses as everyone hopes for brighter times in 2025 and beyond 🤞 Read the full report from Construction News 👉 https://lnkd.in/g-FPFkv4 #Construction #Economics #MEPEngineering Jeff Hughes Lisa Beaman Martin Bull Adam Bateman Richard Twist
Analysts predict deeper construction recession
https://www.constructionnews.co.uk
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This article from Construction Dive suggests spending growth looks promising in the near future. Click the link to learn more about what this means for the different subcategory of the industry. #construction #inflation
Construction spending growth looks ‘solid going forward’
constructiondive.com
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Vice President, Employee Health & Benefits at Marsh McLennan Agency-Southwest | Passionate about providing solutions for rising healthcare costs
This article from Construction Dive suggests spending growth looks promising in the near future. Click the link to learn more about what this means for the different subcategory of the industry. #construction #inflation
Construction spending growth looks ‘solid going forward’
constructiondive.com
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This article from Construction Dive suggests spending growth looks promising in the near future. Click the link to learn more about what this means for the different subcategory of the industry. #construction #inflation
Construction spending growth looks ‘solid going forward’
constructiondive.com
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Developing comprehensive Risk Management solutions that protect your firm, assets, and employees
This article from Construction Dive suggests spending growth looks promising in the near future. Click the link to learn more about what this means for the different subcategory of the industry. #construction #inflation
Construction spending growth looks ‘solid going forward’
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Driving organizational excellence, value, and cost control through strategic benefits consulting
This article from Construction Dive suggests spending growth looks promising in the near future. Click the link to learn more about what this means for the different subcategory of the industry. #construction #inflation
Construction spending growth looks ‘solid going forward’
constructiondive.com
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This article from Construction Dive suggests spending growth looks promising in the near future. Click the link to learn more about what this means for the different subcategory of the industry. #construction #inflation
Construction spending growth looks ‘solid going forward’
constructiondive.com
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This article from Construction Dive suggests spending growth looks promising in the near future. Click the link to learn more about what this means for the different subcategory of the industry. #construction #inflation
Construction spending growth looks ‘solid going forward’
constructiondive.com
