Hospital construction costs for 2024
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
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Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
National nonresidential construction spending increased 0.2% in March, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.19 trillion.
Managers of companies in the industrial sector, including construction, have bought the hype of artificial intelligence (AI) as a transformative technology, but their organizations are not ready to realize its promise, according to research from IFS, a global cloud enterprise software company. An IFS survey of 1,700 senior decision-makers found that 84% of executives anticipate massive organizational benefits from AI.Â
As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.
The largest revisions came in the last two years and were largely upward.
By all indications, 2015 was another solid year for U.S. architecture, engineering, and construction firms.
Only 4 of 16 subsectors showed gains
Business conditions show continued strength in South and West regions.
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ABC forecasts growth in nonresidential construction spending of 7.4% in 2016 along with growth in employment and backlog.