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Economic trends: Page 2
Illinois Tollways investing $922 million in capital projects this year
The Illinois Tollway plans to invest $922 million in capital projects in 2013, doubling the amount it spent in 2012, according to a new release issued on March 11. This includes funding for the second year of the agencyâs 15-year, $12 billion capital program, Move Illinois: The Illinois Tollway Driving the Future. These investments are [âŚ]
March 11, 2013
Report: Motor fuel tax change of -0.2% nationwide
The November 2012 Monthly Motor Fuel Reported by States report, publicly released on March 7 by the Department of Transportation Federal Highway Administration (FHWA) Office of Policy, showed a a change of -0.2% nationwide, from the same month from previous year. A total of 31 states reported, with the remainder estimated. Changes by region were as [âŚ]
March 11, 2013
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October 9, 2024
Granite named as one of âWorldâs Most Ethical Companiesâ
Granite Construction Inc. has again been recognized by the Ethisphere Institute as one of the 2013 Worldâs Most Ethical Companies (WME). The 2013 WME companies are those that embrace ethical business practice and demonstrate industry leadership. âNot only did more companies apply for the Worldâs Most Ethical Companies recognition this year than any year in [âŚ]
March 7, 2013
Roadbuilding
Highway, bridge contract awards down 3 percent â ARTBA report
Despite the 2012 passage of the federal surface transportation law, âMoving Ahead for Progress in the 21st Centuryâ (MAP-21), the real value of highway and bridge contract awards over the last 12 months was down three percent compared the previous 12-month period, according to the latest analysis of McGraw-Hill Dodge data by the American Road [âŚ]
March 6, 2013
Roadbuilding
Illinois Tollway awards than $73 million in contracts
The Illinois Tollway Board of Directors on Feb. 28 awarded three new construction contracts totaling $23 million and six new engineering contracts totaling $50.4 million for construction management and design services. More than $296.9 million in construction and engineering contracts have been approved by the Tollway Board so far in 2013. A total of $924.9 [âŚ]
March 5, 2013
Roadbuilding
Reuters: Cat to cut 1,400 jobs at Belgium plant
Reuters reports that Caterpillar Inc.  plans to cut 1,400 jobs at a plant near Charleroi in Belgium âdue to high costs and the weak European economy,â the groupâs Belgian unit said on Feb. 28. The cuts will come at the Gosselies site just outside of Charleroi, one of the largest Caterpillar facilities in Europe, where [âŚ]
March 5, 2013
Roadbuilding
Residential construction positioned for expansion, nonresidential will âlimp alongâ
The Associated Builders and Contractors (ABC) reports that nonresidential construction spending fell 3.3 percent in January, with outlays decreasing to a seasonally adjusted annual rate of $572.1 billion, citing a March 1 report by the U.S. Census Bureau. Year over year, total nonresidential construction spending is up only 0.8 percent (unadjusted for inflation), according to [âŚ]
March 4, 2013
Roadbuilding
Illinois Tollway needs firms for 15-year, $12 million program
The Illinois Tollway is looking for firms to provide design, construction management and technical services for 23 new contracts associated with its 15-year, $12 billion capital program Move Illinois: The Illinois Tollway Driving the Future. The contracts will provide for an estimated $90 million in design and construction management for the Jane Addams Memorial Tollway [âŚ]
March 4, 2013
Roadbuilding
Granite Q4, 2012 revenues up, net income down
Granite Constructionâs fourth-quarter 2012 and overall 2012 revenues at a glance, according to the companyâs report released on Feb. 28: Revenues for the year increased 4 percent to $2.1 billion Net income of $45.3 million in 2012 compared with $51.2 million in 2011 Large Project Construction gross margins improved to 17.2 percent Balance Sheet remains [âŚ]
March 1, 2013
Roadbuilding
Poor pavement costs Md. residents about $6.2 billion each year â report
More than two-fifths of Marylandâs major locally and state-maintained roads are in either poor or mediocre condition, one-quarter of bridges are in need of repair or replacement, and the stateâs drivers experience increasingly worsening congestion, according to the report, Maryland Transportation by the Numbers: Meeting the Stateâs Need for Safe and Efficient Mobility, release Feb. 28 [âŚ]
March 1, 2013
Roadbuilding
Fuel consumption in construction up 5.8 percent this year
WEX Inc. and IHS together on Feb. 26 released results of its WEX Construction Fuel Consumption Index (FCI), which indicated an increase of 5.8 percent in January compared to its level in January 2012. The WEX Construction FCI measures national fuel consumption statistics for the construction industry. WEX worked with IHS to capture and analyze [âŚ]
February 28, 2013
Roadbuilding
New business volume for January $5.9 billion
The Equipment Leasing and Finance Associationâs (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showed their overall new business volume for January was $5.9 billion, up 16 percent from volume of $5.1 billion in the same period in [âŚ]
February 28, 2013
Roadbuilding
LaHood on sequestration and transportation
U.S. Transportation Secretary Ray LaHood released a statement on Feb. 22 with his thoughts on what sequestration will mean for the nation and for transportation. For the official statement, go to http://www.dot.gov/briefing-room/statement-sequestration-us-transportation-secretary-ray-lahood-22-february-2013.) LaHood says in the statement that âsequestration will have a serious impact on the transportation services that are critical to the traveling public [âŚ]
February 26, 2013
Roadbuilding
Equipment finance market on rise for third straight month
The Equipment Leasing & Finance Foundation released the February 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) on Feb. 22, which indicated that overall, confidence in the equipment finance market is up for the third consecutive month at 58.7, an increase from the January index of 54.2. The index reports a qualitative assessment [âŚ]
February 25, 2013
Roadbuilding
Stiffer pavements can save $15 billion per year in fuel costs
Massachusetts Institute of Technology (MIT) researchers have found that a pavement property called âdeflectionâ could save more that $15 billion in annual fuel costs, according to information provided by the Portland Cement Association (PCA). Pavement deflection is when your car makes a slight indentation in the road from which you are constantly driving out of [âŚ]
February 21, 2013
Roadbuilding
Shuster: U.S. has âsignificant long-term infrastructure needs that must be addressed and responsibly paidâ
Committee on Transportation and Infrastructure Chairman Bill Shuster (R-Pa.) released statement on Wednesday following the release of additional details on President Obamaâs infrastructure plan. In his statement, Shuster pointed out that he is âencouragedâ by the need to reduce âred tape and streamline project delivery, including working to implement provisions from [the surface transportation bill, [âŚ]
February 21, 2013
Roadbuilding
U.S. DOT establishes âNational Freight Networkâ
The U.S. Department of Transportation (DOT) publicly announced on Feb. 14 that it established a National Freight Advisory Committee to provide recommendations aimed at improving the national freight transportation system. âOur freight system is the lifeblood of the American economy,â said U.S. Transportation Secretary Ray LaHood in a written press statement. âWe must ensure that [âŚ]
February 18, 2013
Roadbuilding
$287 million for New York to rebuild roads, bridges damaged by Hurricane Sandy
U.S. Transportation Secretary Ray LaHood on Feb. 15 announced $287 million in emergency relief funds for New York to rebuild roads and bridges damaged by natural disasters, with $250 million specifically designated for Hurricane Sandy recovery. LaHood was joined by Senator Charles Schumer in New York City for the announcement. The funding in the Feb. [âŚ]
February 15, 2013
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