Tuesday, 4 March 2014
McGraw Hill Construction Introduces Dodge DocuPro™ - Document Management Solution Gives Construction Professionals Total Project Control From Design to Completion
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Schools & Universities Report Health & Productivity Benefits from Green School Efforts, According to New McGraw-Hill Construction SmartMarket Report
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Press Release
Schools & Universities Report Health & Productivity Benefits from Green School Efforts, According to New McGraw-Hill Construction SmartMarket Report
NEW YORK – February 27, 2013 – According to a new report released today by McGraw-Hill Construction entitled New & Retrofit Green Schools-The Cost Benefits and Influence of a Green School on its Occupants, both K-12 and universities are reporting significant benefits from their green school efforts—both in improved child health, wellbeing and performance, but also teacher and faculty satisfaction. These results are accompanied by reported financial benefits from green school activities.
According to the study, nearly all K–12 school (91%) and university (89%) respondents report that green schools have improved the health and well-being of their students. Additionally, 70% of K –12 schools and 63% of university leaders report green efforts as raising test scores of their students.
Leaders also report other benefits from their green schools efforts:
McGraw-Hill Construction's Dodge Green Construction Outlook, drawn from proprietary project data reported in November that 54% of education construction was green in 2012—up from 30% in 2008, and it is expected to grow, which reinforces the importance of this study and the benefits green buildings can offer.The report also includes opinions from the design and construction community, and reports form their clients mirror the results from the schools and universities directly. 85% of architects report a positive impact on health and well-being from their green school projects, and 85% of them are reflecting student mobility and health concerns into the design of their buildings.
The study was produced with the support of the U.S. Green Building Council Center for Green Schools, Lutron, Project Frog and Siemens. Survey and data partners included the Council of Educational Facility Planners International, The American Institute of Architects, Associated General Contractors of America, Green Schools National Network, National Association of Independent Schools, National Building Museum, Society for Colleges and University Planning, and Second Nature.
This report is being released with the opening of the new Green Schools exhibition at the National Building Museum (www.nbm.org). A press preview of the exhibition is scheduled for Thursday, February 28, 2013 from 10 am to noon at the Museum in Washington, DC.
To download the full New and Retrofit Green Schools SmartMarket Report, go to http://analyticsstore.construction.com/index.php/new-and-retrofit-green-schools-smartmarket-report-2013.html
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About McGraw-Hill Construction: McGraw-Hill Construction's data, analytics, and media businesses—Dodge, Sweets, Architectural Record, GreenSource, and Engineering News-Record— create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics. To learn more, visit www.construction.com.
About The McGraw-Hill Companies: McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, J.D. Power and Associates and Platts, a leader in commodities information. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
ENR Mid-Atlantic Presents “THE PULSE: Innovations in Private, Institutional and Federal Healthcare Construction,” Friday, September 27, 2013 in Arlington, VA
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Architectural Record's 10th Annual Innovation Conference To Be Held October 4 in New York City
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Press Release
Architectural Record's 10th Annual Innovation Conference To Be Held October 4 in New York City
September 6, 2012 - New York, NY
McGraw-Hill Construction's Architectural Record will highlight the profession's top innovators, most influential new projects and groundbreaking achievements in super-tall, super-efficient and super-smart buildings during their 10th annual Innovation Conference, to be held October 4, 2012. The event, themed "Design Leaders Envision the Next Decade", will be held at The McGraw-Hill Companies Corporate Headquarters, 1221 Avenue of the Americas in Manhattan.
The full-day event will bring together 200+ leaders in the architecture, design and engineering fields to discuss innovations in design and technology over the past decade. The event will also explore the industry's future in a session featuring architects discovered by Architectural Record in its annual Design Vanguard issue, including representatives from Johnsen Schmaling Architects, LTL Architects, Luce et Studio, and nARCHITECTS.
The event features keynote addresses by Jeanne Gang, Principal & Founder, Studio Gang Architects; Francis Kéré, Founder, Francis Kéré Architecture; and David Adjaye, Founder & Principal Architect, Adjaye Associates. Additional scheduled speakers include representatives from Adrian Smith + Gordon Gill Architecture, Foster + Partners, Gehry Technologies, Kennedy & Violich Architecture, Ltd., KieranTimberlake, Kohn Pedersen Fox Associates, Lawrence Berkeley National Laboratory, MechoSystems, MIT Media Lab, Skidmore, Owings & Merrill LLP, and The Skyscraper Museum.
For more information or to register, visit www.RecordInnovation.com, call 1-800-371-3238, or search Twitter for #ARinnov. Attendees are eligible to earn 5.25 AIA HSW Continuing Education Hours. Discounts are available before September 14 and to members of AIA, AIANY, Architectural League NY, CTBUH, SMPS, and The Skyscraper Museum as well as to media representatives and groups of four or more.
The Architectural Record Innovation Conference is produced by McGraw-Hill Construction. Sponsors of the event include MechoSystems and reThink Wood as Key Corporate Sponsors, and AISC, Dorma, Dyson, Florida Tile, Guardian, Graphisoft, Sloan and Turner as Product Gallery Sponsors. Supporting sponsors include AIA, AIA NY, the Council on Tall Buildings & Urban Habitat, The Skyscraper Museum, and the Society for Marketing Professional Services.
# # #
About McGraw-Hill Construction:
McGraw-Hill Construction's data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record— create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge BuildShare and Dodge SpecShare. To learn more, visit www.construction.com.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial’s leading brands include Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at: http://www.mcgraw-hill.com/.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.com
Three-Quarters of Contractors Using BIM Globally Report Positive ROI on Their BIM Investments, According to New McGraw Hill Construction Report
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Press Release
Three-Quarters of Contractors Using BIM Globally Report Positive ROI on Their BIM Investments, According to New McGraw Hill Construction Report
NEW YORK – January 8, 2014 – Contractors in nine of the world’s top construction markets using BIM report that building information modeling (BIM) helps them to improve productivity, efficiency, quality and safety on their projects, as well as their own competitiveness, according to a new study by McGraw Hill Construction. The Business Value of BIM for Construction in Major Global Markets SmartMarket Report reveals that contractors in markets with well-established BIM use, such as Canada, France, Germany, U.K. and U.S, as well as those in markets that are still in the initial stages of BIM adoption, such as Australia/New Zealand, Brazil, Japan, and South Korea, are seeing a positive return on their investments in BIM, from project benefits like reduced errors and omissions, to process improvements like the ability to enhance collaboration, and internal business benefits such as enhancing their company’s image.
“The markets that are just beginning to adopt BIM have really benefitted from the experience of other regions,” says Steve Jones, senior director at McGraw Hill Construction. “These results are exciting because they demonstrate that these newer-to-adopt markets are already outperforming the more established regions in several key areas, including ROI, offering innovative new services and using BIM in the non-building sector. It suggests that BIM is set to transform the approach to construction globally.”
The results also provide evidence of unrelenting growth in the use of BIM that can be expected in the near future. Over the next two years, contractors expect the percentage of their work that involves BIM will increase by 50% on average. Given the fact that the study also demonstrates that companies more engaged with BIM achieve more benefits and realize a stronger return on their BIM investments than those less engaged, these results position BIM for powerful growth in all these markets in the next few years. For example,
• Half of the contractors with a very high BIM engagement report returns in excess of 25% on their investments in BIM,
• 40% of the contractors with very high BIM engagement levels report that BIM significantly reduced rework on projects, resulting in a significant cost savings.
“As greater industry demands unfold, BIM is emerging as a vital process to promote efficiency and leaner operations throughout a construction project’s lifecycle,” says Lisa Campbell, vice president, Industry Strategy and Marketing at Autodesk, Inc., which was the study’s premier partner. “And contractors are poised to see tremendous benefits from BIM across all regions.”
The study provides further evidence of strong future growth in the use as contractors report making aggressive investments in their BIM programs. All eight potential BIM investments measured in the survey, including investments in training, processes, hardware, software and custom 3D libraries, were considered a top priority by at least one third (32%) or more of the contractors surveyed.
More contractors with a very high BIM engagement level (61%), which can be considered the bellwether for future behavior regarding BIM, are investing in mobile devices, than the average across the contractors (38%), demonstrating that the future of BIM for contractors lies in getting it more widely used in the field.
“With the advent of cloud and mobile technologies, access to all aspects of project data now extends from the office to the field and back,” continues Campbell. “Getting valuable BIM data that has been enriched over the life of the project by all participants, to all project stakeholders can transform project delivery and oversite at the point of construction and beyond. This ubiquitous access to project data further extends the value of BIM and will transform how projects as well as buildings are managed forever.”
In addition, the study demonstrates the broad range of uses to which contractors across the globe are deploying BIM, including how use varies by specific markets. For example,
• While 82% of U.S. contractors use BIM for multi-trade coordination, leading the globe in this area, Brazilian contractors notably lag in this area, with only 25% using BIM for the purpose.
• On the other hand, contractors from Brazil lead in the integration of the model with schedule (4D), a practice only used by 21% of firms in the U.S.
In-depth analysis is provided for several ways contractors use BIM in the preconstruction, construction and post-construction phases of a project, including emerging areas like managing the model for the owner beyond closeout, a trend emerging strong in Asia and Europe but still lagging in North America.
“Using BIM in post-construction by adding maintenance and operations data to the model and managing the model for the owner beyond closeout has the potential to open up new revenue streams,” says Harvey Bernstein, vice president of industry insights and alliances at McGraw Hill Construction. “While nearly half of contractors are adding O&M data, less than one-third are managing the models for the owner. Firms that can use BIM to expand their involvement in the building beyond construction are at the forefront of a potential, highly profitable sea change in the industry.”
Autodesk was the premier partner on the study. AECOM was the corporate partner, and the BIMForum was the association partner.
To download a copy of the Information Mobility SmartMarket Report, visit
http://www.analyticsstore.construction.com/GlobalBIMSMR14?sourcekey=PRESREL
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About McGraw Hill Construction: McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare® and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit http://www.construction.com.
About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.
Media Contacts: Kathy Malangone, Senior Director, Marketing Communications, McGraw Hill Construction, +1 212-904-4376, kathy.malangone@mhfi.com
McGraw Hill Construction Launches Dodge Global Network Platform
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Press Release
McGraw Hill Construction Launches Dodge Global Network Platform State-of-the-art technology enables industry-first capabilities to help customers stay competitive and growNEW YORK - June 18, 2013 – McGraw Hill Construction’s Dodge, the industry standard for construction information and intelligence, today announced the next generation of its Dodge Global Network platform. New and proprietary features, including many that are a first for the industry, are specifically designed to enable users to find and prioritize prospects, and increase their win/loss ratio for new business. Highlights of the dynamic and easy-to-use features include:
Plan searching functionality that is available nationally. Customers are able to target projects through deep penetration of keywords in the plan documents, breaking the industry’s status quo that has confined business intelligence to spec document searching;Tablet mobility, enabling customers to access opportunities without being hindered by where they choose to work;Seamless integration with business intelligence platforms, including the Dodge MarketShare™ analysis/forecasting tool, the Dodge BuildShare® relationship-building tool, and the Dodge SpecShare® competitive analysis tool for building product manufacturers;Rapid expansion of international opportunities, allowing customers to prospect beyond borders, following architecture, engineering, and owner firms around the world. Since the third quarter of 2012, the number of projects listed in the Dodge International database has grown to more than 11,000 at a value of over $3.5 trillion. The new Dodge Global Network platform employs the latest technology to service customer needs, whether simple or complex. Customers are able to bid immediate leads, find owners, architects, and general contractors with whom to build a relationship, or extract sophisticated data for use in analysis and forecasting with equal ease.“We have always invested in the quality of our content and pride ourselves in aligning the data we are capturing for customers with their need to be competitive and successful. The breakthrough of the Dodge Global Network is the result of an aggressive technology investment in our new platform, raising the bar and providing functionality not offered anywhere else,” said Keith Fox, president, McGraw Hill Construction. “The resounding acceptance we are seeing for the Dodge Global Network tells us that our customers trust Dodge to fuel their business intelligence needs.”“We continue to innovate to ensure our products remain strong and relevant,” said Kate Cassino, vice president, product development, McGraw Hill Construction. “We are the only provider to offer the ability to search plan documents, and access an ever-growing international database of projects, anytime and anywhere. The at-a-glance nature of the Dodge Global Network helps our customers seize opportunities quickly and grow their top line.” The Dodge Global Network was the first to provide a web-based business intelligence platform for construction professionals that integrates projects, plans and specifications, and analytics, when its alpha version debuted in 2012. Throughout 2012, Dodge launched a series of web-based dashboards that provide seamless access to its MarketShare, SpecShare, and BuildShare suite of business intelligence. Dodge reporters located in 80+ major metropolitan areas call on more than 35,000 sources each year and cover 150,000 sources overall. Dodge's database of projects exceeds 500,000 each year, with more than 5,500 daily updates and 65,000 digitized plans and specs. Two-thirds of international projects are in the planning stage of construction, and 94% of the architectural firms designing these projects are featured in the well-respected list of Top 500 Design Firms published by McGraw Hill Construction’s ENR.For more information about the Dodge Global Network, visit http://www.construction.com/Dodge/. Demonstrations of the Dodge Global Network will be available at McGraw Hill Construction’s booth #2103 at the AIA Convention & Expo in Denver on June 20-21.# # #
About McGraw Hill Construction
McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction (http://www.construction.com/) serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare® and Dodge SpecShare®.
About McGraw Hill Financial
McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power & Associates, McGraw Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at http://www.mhfi.com/.
Media Contact
Kathy Malangone, Senior Director, Marketing Communications, McGraw Hill Construction, +1 212-904-4376, kathy.malangone@mhfi.com
Dodge Momentum Index Rebounds in December
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Press Release
Dodge Momentum Index Rebounds in December
NEW YORK – January 8, 2013 – The Dodge Momentum Index rose 3.2% in December, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The December gain brought the Momentum Index to 94.9 (2000=100), up from November’s revised 91.9. After showing a hesitant upward trend during the first seven month of 2012, the Momentum Index settled back from August through October, and then stabilized in November. This coincided with the economic and political uncertainty that dampened investment during that time. The December rebound for the Momentum Index brings it back close to the 95.4 reached in July, which was the highest reading reported during 2012. The latest month’s upturn may also be the initial sign that the uncertainty that restrained plans for construction is now easing, with the November 2012 elections now final and the fiscal cliff being averted for the time being.
December’s increase for the Momentum Index was due entirely to a pickup by its commercial building segment, which advanced an impressive 9.0% relative to November. New plans for stores and office buildings were stronger in December, and several notable warehouse developments also bolstered the Index, including plans for two new Amazon distribution facilities in Dupont WA and Fort Worth TX. In contrast, the institutional building segment of the Momentum Index dropped 2.4% in December, weighed down by a reduction in the number of new hospitals entering the planning phase. The retreat for the institutional building segment is likely to continue for a while longer, given expected cutbacks in federal spending and state budget constraints.
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About McGraw-Hill Construction:
McGraw-Hill Construction’s data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record—create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge BuildShare and Dodge SpecShare. To learn more, visit www.construction.com.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available www.mcgraw-hill.com/.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.com
McGraw Hill Construction’s ENR & SNAP Win Seven National ASBPE Awards for Editorial Excellence
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Press Release
McGraw Hill Construction’s ENR & SNAP Win Seven National ASBPE Awards for Editorial Excellence
NEW YORK –August 5, 2013— McGraw Hill Construction’s Engineering News-Record (http://www.enr.com/) and SNAP (http://construction.com/Sweets/Snap/) have won seven 2013 National Azbee Awards of Excellence from the American Society of Business Publication Editors (ASBPE). Each year, ASBPE recognizes the best in editorial, design, and online achievement with these prestigious awards. The awards were presented at the ASBPE national editorial conference on July 29 in Oak Brook, IL.
ENR magazine and its website, http://www.enr.com, are the primary trusted sources of news, analysis, commentary, and data for the construction industry. ENR’s five ASBPE awards, all in the Revenue $2M+ category, include:
- Winner, B2B Web Site of the Year
- Gold Award, News Section, “Blackout: Superstorm Sandy Coverage” 11/12/2012
- Silver Award, Front Cover - Computer Generated: “Searching for Solutions” 10/8/2012
- Bronze Award, Case History: “Breaking Free: Elwha River Restoration Project” 9/17/2012
- Bronze Award, Feature Article - Impact/Investigative Feature: “Bullying on the Job: Targets of Abuse” 11/26/2012
ENR was also named to ASBPE’s list of Top 10 finalists for Magazine of the Year.
SNAP (Sweets News and Products), the newest publication from McGraw-Hill Construction, received two Azbee Awards, both in the Product Section/Department category: a Gold Award for “Product Specs” and a Bronze Award for “Made in the USA,” in the publication’s 2012 issues.
For more information or to read the award-winning coverage, visit http://www.construction.com.
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About McGraw Hill Construction: McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare® and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit www.construction.com.
About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.
Media Contact: Kathy Malangone, Senior Director, Marketing Communications, McGraw Hill Construction, +1 212-904-4376, kathy.malangone@mhfi.com
Housing Leads Construction Industry to Moderate Growth in 2014, According to McGraw Hill Construction
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Press Release
Housing Leads Construction Industry to Moderate Growth in 2014, According to McGraw Hill Construction
Dodge Outlook Report Predicts Rise in Construction Starts for Housing, Commercial & Manufacturing Building Sectors; Stability for Institutional Building After Lengthy Decline; Weaker Activity for Public Works & Electric Utilities
Washington, D.C. – October 25, 2013 – McGraw Hill Construction (http://www.construction.com/), part of McGraw Hill Financial (NYSE: MHFI), today released its 2014 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts for 2014 will rise 9% to $555.3 billion, higher than the 5% increase to $508 billion estimated for 2013.
“We see 2014 as another year of measured expansion for the construction industry,” said Robert Murray, McGraw Hill Construction’s vice president of Economic Affairs. “Against the backdrop of elevated uncertainty and federal spending cutbacks, the construction industry should still benefit from several positive factors going into 2014. Job growth, while sluggish, is still taking place. Interest rates remain very low by historical standards, and in the near term the Federal Reserve is likely to take the necessary steps to keep them low. The bank lending environment is showing improvement in terms of both lending standards and the volume of loans. And, the improving fiscal posture of states and localities will help to offset some of the negative impact from decreased federal funding,” said Murray.Based on research of specific construction market sectors, McGraw Hill Construction’s 2014 Dodge Construction Outlook details the forecast as follows. - Single family housing will grow 26% in dollars, corresponding to a 24% increase in units to 785,000 (McGraw Hill Construction basis). The positives for single family housing are numerous – the pace of foreclosures has eased, home prices are rising, and mortgage rates remain near recent lows. However, the demand for housing will continue to be restrained by careful bank lending practices towards issuing mortgages. - Multifamily housing will rise 11% in dollars and 9% in units. While growth continues, the percentage gains will be smaller than the previous four years, reflecting a maturing multifamily market. This structure type is still a favored investment target by the real estate finance community, which in the near term should lead to more high-rise residential buildings in major cities. - Commercial building will increase 17%, a slightly faster pace than the 15% gain estimated for 2013. Both warehouses and hotels will continue to lead the way, while stores and office buildings pick up the pace. The positives for commercial building are improving market fundamentals and more bank lending for commercial development. Next year’s activity in dollar terms will still be 28% below the 2007 peak. - Institutional building will edge up 2%, turning the corner after five years of decline. For the educational building category, colleges are revisiting capital expansion plans, and passage of recent construction bond measures in several states should help K-12 construction projects. Healthcare construction is expected to remain flat, given continued emphasis on cost containment. - Public works construction will drop 5%, pulling back after a 3% gain in 2013 that was lifted by the start of several large highway and bridge projects. More focus on deficit reduction will limit federal support for environmental public works, although the improved fiscal position of state and local governments will help to cushion the extent of the public works decline. - Electric utility construction will retreat 33%, continuing the 55% correction estimated for 2013 that followed the current dollar high reached in 2012. Capacity utilization is down sharply, limiting the near term need for new generating capacity. The need for transmission line work remains strong.“The 2014 picture bears some similarity to what’s taking place during 2013, with single family housing providing much of the upward push; multifamily housing showing a slower yet still healthy rate of growth after four years of expansion, and commercial building gradually ascending from low levels,” added Murray. “One change that’s expected for 2014 is that institutional building will no longer be pulling down nonresidential building and total construction.”The 2014 Dodge Construction Outlook was presented at McGraw Hill Construction’s 75th annual Outlook Executive Conference in Washington, D.C. Copies of the report with additional details by building sector can be ordered at http://analyticsstore.construction.com/2014-dodge-construction-outlook.html?sourcekey=PRESREL. Additional reports and projections are available from McGraw Hill Construction Research and Analytics, http://construction.com/market_research. ###About McGraw Hill Construction: McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare® and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit http://www.construction.com/.About McGraw Hill Financial: McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.Media Contact: Kathy Malangone, Senior Director, Marketing Communications, McGraw Hill Construction, +1 212-904-4376, kathy.malangone@mhfi.comDodge Momentum Index Pauses in June
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Press Release
Dodge Momentum Index Pauses in June
NEW YORK –July 9, 2013— The Dodge Momentum Index receded in June from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. After six consecutive monthly increases, the Momentum Index in June slipped 1.5% to 113.8, down from a revised reading of 115.5 for May. The June pause came after May produced the highest level for the Momentum Index since March 2009, and indicates that the rising trend for nonresidential building remains subject to the occasional setback. As shown by such market fundamentals as vacancy rates, the commercial building sector is getting healthier, but the improvement continues to occur at a gradual and hesitant pace.
The June Momentum Index revealed a mixed reading for its two major components, as a sharp increase in plans for institutional buildings offset a drop in commercial development. New plans for institutional buildings rose 6.5% in June, bolstered by several amusement-related projects. Among the larger amusement and leisure developments to enter planning in June were the $250 million Monarch Hotel and Casino in Black Hawk CO and a $200 million expansion of the Sacramento Convention Center in California. The largest institutional project overall to enter the planning phase in June was a $400 million casino project in Liberty NY. The developer of the casino has said that the site in upstate New York could be ready for construction soon if the necessary state and local approvals are expedited. Meanwhile, the commercial building segment in June fell back 8.5% compared to May. Declines in both office and retail-related development weighed on overall commercial building plans.
______________________________________________________________________
About McGraw Hill Construction:
McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare® and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit http://www.construction.com.
About McGraw Hill Financial:
McGraw Hill Financial, a financial intelligence company, is a leader in credit ratings, benchmarks, and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, McGraw Hill Construction, and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications,
McGraw Hill Construction, +1 212-904-4376, kathy.malangone@mhfi.com
Engineering News-Record Presents Award of Excellence to Wayne E. Jones, Project Manager for New Orleans Surge Barrier Wall Construction
On 13:43
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Press Release
Engineering News-Record Presents Award of Excellence to Wayne E. Jones, Project Manager for New Orleans Surge Barrier Wall Construction
One of Industry’s Highest Honors Draws Attendance of More Than 900 Leaders NEW YORK – April 19, 2013 – Engineering News-Record (ENR), McGraw-Hill Construction's industry-leading information source, has announced that Wayne E. Jones, Traylor Bros. project manager, has received the 48th Award of Excellence, ENR’s highest honor and one of the industry’s most prestigious awards. Jones was honored in front of 900 leaders from across the design and construction industry last night at a black-tie awards gala in New York City. He was among Top 25 Newsmakers of 2013, who were also honored for their achievements.The editors of ENR selected Jones as this year's Award of Excellence winner because of his essential contribution to hardening storm protections around New Orleans. The largest chunk of new construction in the $14.6 billion ring of storm-surge defenses, built by the U.S. Army Corps of Engineers around post-Katrina New Orleans, is a $1-billion barrier across a marshy bay. The backbone of the barrier is a huge concrete and steel wall, designed to hold back a 26-foot-tall, hurricane-induced surge. Prime contractor Shaw E & I selected a joint venture led by Traylor Bros. to build the wall, and Jones, as project manager, planned and led the construction.
"Wayne Jones was instrumental in delivering this life-saving project. His ingenuity helped the joint venture devise a safe and efficient construction plan for this enormously complicated assembly. The entire surge barrier was completed by June of 2012 just in time to protect New Orleans from Hurricane Isaac in late August. The barrier is the largest civil works, design-build project in the history of the U.S. Army Corps of Engineers, and its success stands as a beacon to a better way than multi-year, incrementally funded infrastructure. ENR is proud to present our most prestigious award to Mr. Jones,” said Jan Tuchman, Editor-in-Chief, ENR.
ENR has selected winners for the coveted Award of Excellence since 1964 from among the industry’s most innovative leaders. These leaders demonstrate a unique vision and ability to execute on that vision to improve and enhance the lives of people where they live and work. Candidates are chosen from newsmakers covered in ENR during the past year. A team of experienced editors at ENR then review each candidate and choose the Award of Excellence winner, carrying on the proud tradition. Past honorees, many of whom attended last night’s gala, include:
-Theodore Zoli—winner in 2012 for solving urgent bridge dilemmas around the world
-John Hillman—winner in 2010 for creating a next-generation composite beam
-Michael Burton—winner in 2002 for leading the cleanup of Ground Zero
-Charles Thornton—winner in 2001 for creating the successful ACE mentor program
-Ginger Evans—winner in 1994 for managing the construction of Denver’s airport
Jones is featured in the April 22 issue of ENR. For more details on the Top 25 Newsmakers, visit http://enr.construction.com/people/awards/2013/0128-The-Top-25-Newsmakers.asp
Sponsors of the 48th Annual Award of Excellence include AECOM, The Associated General Contractors of America, American Society of Civil Engineers, CMAA, CMiC, FIGG Engineering Group, HDR Inc., Hill International, Parsons Corporation, Turner, United Rentals, and Volvo Rents.
For more about McGraw-Hill Construction events, visit http://construction.com/events.
# # #
About McGraw-Hill Construction:
McGraw-Hill Construction’s data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record— create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge BuildShare and Dodge SpecShare. To learn more, visit http://www.construction.com/.
About The McGraw-Hill Companies:
The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to shareholder approval), is a powerhouse in credit ratings, benchmarks and analytics for the global capital and commodity markets. Leading brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mcgraw-hill.com.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.comEngineering News-Record Presents Award of Excellence to Wayne E. Jones, Project Manager for New Orleans Surge Barrier Wall Construction
June Construction Retreats One Percent
On 13:27
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Press Release
June Construction Retreats One Percent
July 20, 2012 - New York, NY
New construction starts in June slipped 1% to a seasonally adjusted annual rate of $446.1 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. After the elevated activity that was reported during March and April, which reflected the lift coming from two nuclear power projects, total construction in May and June returned to a level just slightly above the average monthly pace reported during the previous year. June featured a moderate loss of momentum for nonresidential building, after this sector's improved performance in May. At the same time, residential building in June maintained its gradual upward trend, while nonbuilding construction was unchanged as the result of divergent behavior by its public works and electric utility segments. For the first six months of 2012, total construction starts on an unadjusted basis came in at $225.0 billion, up 4% from the same period a year ago.
June's data produced a reading of 94 for the Dodge Index (2000=100), compared to a revised 95 for May. For all of 2011, the Dodge Index averaged 92. "The construction start statistics for the most part continue to hover within a set range, showing gains for some project types but further weakness for other project types," stated Robert A. Murray, vice president of economic affairs for McGraw-Hill Construction. "Total construction activity had jumped in March and April, due primarily to the start of two massive nuclear power projects – $8.5 billion for work on Units 3 and 4 at the Vogtle nuclear power facility near Waynesboro GA and another $8.5 billion for work on Units 2 and 3 at the Virgil C. Summer nuclear power facility near Jenkinsville SC. Aside from the lift coming from this year's nuclear power projects, total construction activity during the first half of 2012 has basically shown a hesitant up-and-down pattern. On the plus side, gains are being reported for several commercial building categories, and the strengthening trend for multifamily housing is now being joined by moderate growth for single family housing. On the negative side, such institutional project types as educational buildings and healthcare facilities continue to weaken, along with further declines for several public works categories."
Nonresidential building in June fell 4% to $148.7 billion (annual rate), following its 12% increase in May. For the commercial sector, office construction in June dropped 31% after jumping 34% in May, which benefitted from the start of several large data center and corporate headquarters projects. The largest office projects that were reported as June starts were a $200 million data center in Kings Mountain NC, a $65 million office building in Arlington VA, and a $35 million renovation to one of the World Bank facilities in Washington DC. Hotel construction was also down sharply in June, falling 23% after surging 49% in May. Store construction in June grew 4%, helped by groundbreaking for a $52 million outlet mall in Rosemont IL and a $32 million outlet mall in Woodstock GA. Warehouse construction in June managed to edge up 1%, aided by the start of a $78 million Family Dollar distribution center in Utah. Manufacturing plant construction in June was down 10%, although June did include the start of several large projects – a $375 million petrochemical plant expansion in Louisiana, a $196 million pharmaceutical research facility in Massachusetts, and a $135 million construction equipment manufacturing plant in Georgia.
The institutional sector in June showed a mixed performance by project type. The educational building category grew 4%, helped by such June projects as a $166 million research center at the University of Chicago in Chicago IL, a $101 million technical school in Danvers MA, and an $80 million building at Northwestern University in Evanston IL. Healthcare facilities in June climbed 13%, supported by such projects as a $300 million hospital tower in Columbus OH, a $130 million hospital in Morganton NC, and a $113 million hospital addition in Boulder CO. While both the education and healthcare categories showed gains in June relative to May, for each category the level of activity in June was still below its average monthly pace for 2011, with educational buildings down 8% and healthcare facilities down 11%. For the smaller institutional categories, amusement-related construction advanced 43% in June from a very weak May, lifted by the start of such projects as an $80 million sports arena in Anchorage AK and a $42 million casino in Laveen AZ. Church construction was also up from a very weak May, rising 41%. June declines were reported for the public buildings category (detention facilities and courthouses), down 13%; and transportation terminals, down 40%.
During the first six months of 2012, nonresidential building fell 16% from a year ago. The year-to-date decline for nonresidential building has been getting smaller as 2012 has progressed, although it still reflects the comparison to the briefly elevated amount during the first half of 2011, which included such projects as the $1.2 billion redevelopment of the Delta Terminal at New York's JFK International Airport and the $1.1 billon National Security Agency data center in Utah. The commercial categories year-to-date dropped 4%, pulled down by a 24% decline for office construction. If last year's $1.1 billion data center in Utah is excluded from the comparison, then commercial building in 2012's first half would be unchanged and office construction would be down a less pronounced 15%. The other commercial categories showed gains for the first half of 2012 versus last year – stores and hotels, each up 7%, and warehouses up 12%. Manufacturing plant construction in the first six months of 2012 dropped 28% from a year ago. The institutional categories in the January-June period of 2012 came in 20% below last year, including declines of 16% for educational buildings and 19% for healthcare facilities.
Residential building, at $163.7 billion (annual rate), increased 1% in June compared to May. The upward push was provided by multifamily housing, which increased 5% in June on top of its 30% surge in May. Large multifamily projects that reached groundbreaking in June were led by the following – a $211 million apartment building in New York NY, a $147 million apartment complex in Weehawken NJ, the $144 million apartment portion of a mixed-use building in Hollywood CA, and a $139 million apartment building in Los Angeles CA. Single family housing in June was unchanged from May, essentially stabilizing after registering gains during the first five months of 2012. The June pace for both sides of the housing market were considerably above their respective monthly averages during 2011, with multifamily housing up 45% and single family housing up 26% on this basis.
At the six-month mark of 2012, residential building in dollar terms advanced 25% from the first half of 2011, with multifamily housing climbing 32% while single family housing grew 23%. The top five multifamily markets by metropolitan area during the first half of 2012 ranked by the dollar amount of new projects, were the following (with the percent change from a year ago) – New York NY, up 88%; Washington DC, down 19%; Los Angeles CA, up 27%; Dallas-Ft. Worth TX, up 40%; and Boston MA, up 14%. For single family housing, the year-to-date gains were widespread by geography, with all five major regions of the U.S. reporting double-digit increases relative to a year ago – the West, up 32%; the Midwest, up 26%; the South Atlantic, up 21%; the South Central, up 20%; and the Northeast, up 12%.
Nonbuilding construction, at $133.7 billion (annual rate), was unchanged in June relative to May, as the result of a sharp increase for the public works sector offsetting a steep decline for electric utilities. Public works construction climbed 26% in June, led by a 129% surge for the "other public works" category, which includes such diverse project types as site work, mass transit, pipelines, and outdoor sports stadiums. A major boost to the "other public works" category in June was provided by $1.0 billion estimated for work on a new football stadium for the San Francisco 49ers in Santa Clara CA. Also noteworthy "other public works" projects in June included $280 million for rail transit work in Fremont CA and $225 million for site work at Governor's Island in New York NY. Bridge construction in June climbed 25%, supported by $386 million for work on the West Oahu Farrington Highway Guideway project in Honolulu HI, while highway construction in June improved 3%. The environmental public works categories in June showed the following performance – river/harbor development, up 3%; sewers, unchanged; and water supply systems, down 10%. Electric utility construction in June plunged 60%, sliding from the heightened activity that was reported earlier in 2012. Even with this steep decline, electric utility construction in June still included the start of three large wind power projects, located in Colorado ($670 million), North Dakota ($314 million), and Alaska ($65 million).
For the first six months of 2012, nonbuilding construction was up 11% compared to last year. The electric utility category grew 30% year-to-date, in particular reflecting the start of the Vogtle and Summer nuclear power projects in March and April. Public works construction registered a 1% year-to-date gain, due mostly to a 58% jump for the "other public works" category from its depressed amount during the first half of 2011. Modest 2012 year-to-date gains were reported for bridges and sewer construction, each up 2%. Decreased year-to-date activity was reported for highways, down 12%; accompanied by declines for water supply systems, down 10%; and river/harbor development, down 15%.
The 4% gain for total construction starts at the U.S. level during the first six months of 2012 was due to a varied pattern by geography. The South Atlantic region advanced 50% year-to-date, lifted by work at the nuclear power facilities in Georgia and South Carolina. Total construction starts in the Midwest were up 6%, but year-to-date declines were reported in the West, down 9%; and in the South Central and Northeast, each down 10%.
About McGraw-Hill Construction:
McGraw-Hill Construction connects people, projects, and products across the construction industry. For more than a century, it has remained North America's leading provider of project and product information, plans and specifications, and industry news, trends, and forecasts. McGraw-Hill Construction serves more than one million customers in the global construction industry through Dodge, Sweets, Architectural Record, Engineering News-Record, GreenSource, and SNAP. To learn more, visit www.construction.com or follow @mhconstruction on Twitter.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Indices, Platts energy information services, and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
McGraw-Hill Construction Dodge to Expand Project Coverage to Global Markets
On 13:12
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Press Release
McGraw-Hill Construction Dodge to Expand Project Coverage to Global Markets
Deep Relationships With the Most Active and Influential Global Architects Deliver Competitive Edge for Dodge Customers
McGraw-Hill Construction, part of The McGraw-Hill Companies, today announced it is expanding its construction coverage to global markets through its proprietary Dodge Network. The expansion will provide Dodge customers with access to projects valued in the trillions of dollars around the globe. In addition, the company has expanded its coverage of Canadian construction projects by adding the availability of plans and specifications.
"McGraw-Hill Construction is in a unique position to help our customers grow their business on the international stage. Our deep, personal relationships with the world's most active and influential architects provide a competitive advantage in evaluating international construction projects early in the design process. This in turn helps our customers develop productive relationships in lucrative growth markets," said Keith Fox, President, McGraw-Hill Construction.
International project data is collected by Dodge reporters located in 80+ major metropolitan areas. The Dodge reporters call on more than 35,000 sources each year and cover an additional 150,000 sources. Dodge's database of projects exceeds 500,000 each year, with more than 5,500 daily updates and 65,000 digitized plans and specs.
"Dodge is offering a consistent approach to projects from many regions around the globe, including those in the Middle East, Asia, and Latin America," said Mr. Fox. With two-thirds of international projects in the planning stage of construction, and 94% of the architectural firms designing these projects on McGraw-Hill Construction ENR's well-respected Top 500 Design Firms, we are able to offer unmatched information and insight to help our customers grow their pipeline."
Dodge's international project coverage will be available through its web-based Dodge Network, as well as through tablets. The Dodge Network's newly enhanced platform now offers advanced search functionality and intuitive dashboards that enable customers to view their most important data and benchmarks at a glance.
"McGraw-Hill Construction is the epicenter of construction information in the U.S., and we are bringing the same rigor to our international expansion. Though international markets are struggling through economic uncertainty, there is still a significant amount of building going on, and we are excited to bring these new opportunities to our customers," added Mr. Fox.
Dodge's international project coverage, currently in beta, will go live in the fourth quarter of this year. For more information, visit http://www.construction.com/.
# # #
About McGraw-Hill Construction:
McGraw-Hill Construction's data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record— create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge BuildShare and Dodge SpecShare. To learn more, visit www.construction.com.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.com
Construction Safety Programs Are Yielding Business Benefits for Firms, According to New McGraw Hill Construction Report
On 12:58
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Press Release
Construction Safety Programs Are Yielding Business Benefits for Firms, According to New McGraw Hill Construction Report
NEW YORK –June 20, 2013— Contractors are reporting business benefits from instituting strong safety programs, according to a new report by McGraw Hill Construction on safety management in the construction industry, available at http://analyticsstore.construction.com/market-trends/smartmarket-reports/safety-management-in-the-construction-industry-smartmarket-report-2013.html?sourcekey=SMRPRES.
In particular, construction companies report the following benefits due to the implementation of safety management practices:
· 51% report increases in project ROI; with a fifth of those reporting increases of greater than 5%
· 43% report faster project schedules, with half reporting schedule improvements of a week or more
· 39% report a decrease in project budget from a safety program, with a quarter reporting decreases of 5% or more. Only 15% reported that safety programs cost firms more—debunking the myth that safety has to negatively affect a firm’s bottom line.
· 82% report an improved reputation· 71% report lower injury rates· 66% report they have a greater ability to contract new work· 66% report better project quality“Safety programs are not only creating safer places for their workers, but they are also improving firms’ bottom lines,” said Michele A. Russo, director of research communications, McGraw Hill Construction. “Overall, construction companies—large and small—are reporting positive financial impacts from safety programs—and the size of those benefits increase as the depth of the program increases. In an industry that operates on low margins, this is a powerful finding.”
The study also found that 92% of large contractors (firms with over 500 employees) and 48% of smaller firms have instituted fully inclusive and widely observed safety programs, meaning that larger firms are capitalizing more on these business benefits as compared to smaller contractors and subcontractors.
“McGraw Hill’s report confirms the importance of safety within our industry, and highlights the tangible gains that can be seen across any business,” said Jim Dorris, vice president, health, safety, environment & sustainability, United Rentals, Inc. “United Rentals has found that investing in resources aimed at sustainable safety excellence not only creates a safer work environment, it also increases productivity, reduces costs, enhances the company's reputation, and grows the business.”
Firms are reporting that onsite safety training and education programs are currently most widely adopted (reported by 95% of firms) and considered most valued to jobsite workers (82% find it valuable). Online training programs are still an emerging trend, though the increase in mobile tools onsite will likely influence that.
"Every day in America, an average of 13 workers die on the job from safety-related incidents. An industry-wide culture of safety is essential to eliminating that figure, and this research study proves the many benefits, for our companies and our workers, of creating that culture,” said Brian Tonry, executive vice president and general manager, ClickSafety. "As more and more companies understand and realize the return on investment of safety programs, we will see more widespread adoption of sustainable initiatives throughout the industry, moving us closer to our collective zero-injury goal."
Key industry trends—such as the increased use of mobile tools on construction sites, building information modeling (BIM) and prefabrication/modular construction practices—are also helping to improve safety outcomes for firms, indicating the improved safety expectations that will be placed on construction companies moving forward. Notably, the 43% of the industry report BIM having a positive impact on project safety and 49% report the same positive impact from prefabrication/modular construction. Mobile tools, such as Smartphones, iPads and iPhones also are reporting safety as reported by 82%, 81% and 78% of contractors, respectively.
“The survey results confirm what our research has led us to believe: safety is a sound investment. The firms implementing sound safety practices are boasting leaner project costs overall, faster production, reduced injuries, and better project quality,” said Pete Stafford, executive director, CPWR.
The study’s premier partners include CPWR—The Center for Construction Research and Training, ClickSafety, United Rentals, and the National Institute of Building Sciences, its association partner.
On Wednesday, June 26, McGraw Hill Construction will be presenting key findings at the American Society of Safety Engineers Safety 2013 Expo at the Las Vegas Convention Center at ClickSafety’s Booth #1437 at 9:15 am and 2:00 pm. To download a copy of the Safety Management in the Construction Industry SmartMarket Report, visit http://analyticsstore.construction.com/market-trends/smartmarket-reports/safety-management-in-the-construction-industry-smartmarket-report-2013.html?sourcekey=SMRPRES. ###About McGraw Hill Construction:McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare® and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit http://www.construction.com.
About McGraw Hill Financial:
McGraw Hill Financial (NYSE: MHFI), a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, McGraw Hill Construction and Aviation Week. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications, McGraw Hill Construction, +1 212-904-4376, kathy.malangone@mhfi.com
Dodge Momentum Index Improves in July
On 12:42
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Press Release
Dodge Momentum Index Improves in July
August 7, 2012 - New York, NY
The Dodge Momentum Index climbed 8.1% in July after retreating a revised 2.4% in June, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning. Combined, these projects have been shown to lead construction spending for nonresidential buildings by a full year. The Momentum Index for July came in at 98.8 (2000=100), up from June's revised level of 91.4. This month's improvement in the Momentum Index is consistent with last week's employment report, which showed a stronger than expected increase of 163,000 jobs. Although further increases in the index would be needed to suggest a true rebound in construction, this month's gain could be considered a first step in that direction.
Both the commercial and institutional components of the Dodge Momentum Index rose in July. The institutional building segment of the Momentum Index advanced 9.0% in July after a sharp 11.2% decline in June. An uptick in new planning projects for education buildings (+5.8%) aided the gain in institutional building, although two new hospitals (one in Connecticut and one in California) dominated the projects entering planning. The commercial building segment of the Momentum Index climbed 7.3% in June, even stronger than last month's revised 6.7% improvement. Commercial building was helped by a small 2.5% gain in new plans for office projects. One of the projects contributing to this increase was Apple's new plan for expansion of its Austin, TX campus.
About McGraw-Hill Construction:
McGraw-Hill Construction's data, analytics, and media businesses—Dodge, Sweets, Architectural Record, and Engineering News-Record— create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw-Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge BuildShare and Dodge SpecShare. To learn more, visit www.construction.com.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
Media Contact:
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone@mcgraw-hill.com
Dodge Momentum Index Slips in October
On 12:26
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Press Release
Dodge Momentum Index Slips in OctoberNEW YORK –November 7, 2013 – The Dodge Momentum Index slipped 0.9% in October compared to the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. October’s decline brought the Momentum Index to 115.3 (2000=100), down from September’s 116.4, although still well above the reading of 90.8 registered at the end of last year. The latest month’s retreat may be just a brief departure from the broader trend, in this case the steady improvement shown by the Momentum Index from December 2012 through this September. At the same time, it may well be a sign of renewed caution on the part of developers, given the uncertainty about the political and economic environment stemming from the October government shutdown and the debt ceiling deliberations.
The October Momentum Index once again revealed divergent paths for its main parts – new plans for commercial buildings, the more cyclically sensitive of the two components, dropped 2.1% while institutional building plans held steady. On the commercial side, a large decline in plans for new offices and stores outweighed strong gains for new hotel development. New lodging projects entering the pipeline in October included the $50 million Dream boutique hotel in Dallas TX and a 250-room extended stay hotel in Florham Park NJ. The stability in institutional plans, meanwhile, was aided by a strong upturn for new healthcare projects, including $118 million for Hurricane Sandy repairs to the Bellevue Medical Center in New York NY and the $91 million Landmark Farm Colony Senior Housing Community in Staten Island NY.
# # #
About McGraw Hill Construction:
McGraw Hill Construction provides essential data, news, insights, and intelligence to better inform construction professionals’ decisions and strengthen their market position. McGraw Hill Construction’s data, analytics, and media businesses – Dodge, Sweets, Architectural Record, and Engineering News-Record – create opportunities for owners, architects, engineers, contractors, building product manufacturers, and distributors to strengthen their market position, size their markets, prioritize prospects, and target and build relationships that will win more business. McGraw Hill Construction serves more than one million customers through its trends and forecasts, industry news, and leading platform of construction data, benchmarks, and analytics, including Dodge MarketShare™, Dodge BuildShare®, and Dodge SpecShare®. Construction data is available for North American and global markets. To learn more, visit www.construction.com.
About McGraw Hill Financial:
McGraw Hill Financial (NYSE: MHFI) is a leading financial intelligence company providing the global capital and commodity markets with independent benchmarks, credit ratings, portfolio and enterprise risk solutions, and analytics. The Company's iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power, and McGraw Hill Construction. The Company has approximately 17,000 employees in 27 countries. Additional information is available at www.mhfi.com.
Media Contact:
Kathy Malangone, Senior Director, Communications:
McGraw Hill Construction, 212-904-4376, kathy.malangone@mhfi.com