The latest construction news from around the globe…
Catch up on what’s going on in construction this week. From the most recent enhancements to Procore’s Cost Management program to the state of the construction industry in the UK, we’ve got you covered on all the industry news from around the world.
What Cost Management Means to Procore
Earlier this month, Procore launched a number of new reporting capabilities within its Financials Management Portfolio. The new tools will enable Procore customers to better forecast cash flow, connect Time & Material Tickets to Change Orders, and work off of an enhanced ERP Connector Platform. Learn more about the enhancements here.
State of the Construction Labor Market in Canada
According to BuildForce Canada’s latest report, the Canadian construction industry will need to increase employment by 64,900 workers, or about 6%, over the next decade in order to sustain healthy growth and development. While the majority of that growth will take place through 2025, the report states that the industry will need to replace approximately about 22% of the current labor force, due to retirement, by the end of the decade. Check out the full report to get more insights.
How Hale Corp Increased Productivity By Implementing Procore
At the start of the year Hale Corp, a custom builder based out of Melbourne, was facing a number of issues due to too many siloed software systems at work. Hale Corp CFO Jade Collins said the decision to sign on with Procore resolved multiple challenges for the company. “Procore has made a significant improvement to our business,” Collins said. “With a straightforward implementation, new workflows and documentation mean we no longer need to expand our administration support every time we start a new project.”
How the Pandemic Has Impacted Office Construction
It’s been just over a year since the pandemic first took place and many companies are still not back in the office, while some are still holding out hope for a return, other companies have announced a permanent work from home structure. As leases begin to come up for renewal over the next year, this pivot to remote work will greatly influence landlords and rent prices. Take a look at this New York Times article to see how offices in the US are changing and how this impacts the real estate industry at large.
UK Construction on Sharpest High Since September 2014
Per the latest update from the IHS Markit/CIPS, the UK Construction Total Activity Index was measured at 61.7 for the month of March. This metric is up 8.4 compared to the previous month and signals the strongest rate of construction output growth since September 2014. In a recent statement to pbctoday, Duncan Brock, group director at the Chartered Institute of Procurement & Supply, said: “Construction was full of the joys of spring in March with a sudden leap into solid growth fueled by across the board rises in workloads in all sectors.
Small Virginia Town Takes on Innovative Remodel
Hillsboro is a tiny town made up of about 120 residents, located an hour outside of Washington DC. Although the community is small, it’s taking on a big revitalization effort that could be a model for how many future infrastructure projects are funded, designed and built. Hillsboro’s “ReThink9” project is a $30 million project designed to calm traffic, reduce congestion and improve pedestrian safety throughout the town. Read the full story here.
7 Modular Projects to Take Note Of
If you have an extra moment, check out this article from Construction Dive on some of the notable honorees from the Modular Building Institute’s 2021 Awards of Distinction. The winners range from a pediatric hospital wing to a marijuana dispensary, and all are sure to wow you.
This was just an appetizer. Are you ready for the full course?
Dive into more business news, check out the latest tech trends, and get a couple quick tips from our safety section. And as always, check back in next Friday for the most up to date feature of The Weekly Grind!