Manufacturing and transportation projects drive gains Total construction starts rose 6% in August to a seasonally adjusted annual rate of $1.3 trillion, according to Dodge Construction Network. Nonresidential starts rose 40% thanks to a large pickup in manufacturing and transportation buildings. Residential and nonbuilding starts fell 1% and 14%, respectively. Year-to-date through August 2023, total Read more
Manufacturing and transportation projects drive gains
Total construction starts rose 6% in August to a seasonally adjusted annual rate of $1.3 trillion, according to Dodge Construction Network. Nonresidential starts rose 40% thanks to a large pickup in manufacturing and transportation buildings. Residential and nonbuilding starts fell 1% and 14%, respectively.
Year-to-date through August 2023, total construction starts were 5% below that of 2022. Residential and nonresidential starts were down 18% and 9%, respectively; however, nonbuilding starts were up 22%. For the 12 months ending August 2023, total construction starts were unchanged. Nonbuilding starts were 20% higher, and nonresidential building starts gained 6%. Conversely, on a 12-month rolling basis, residential starts posted a 17% decline overall.
“Despite the August gain, the construction sector is running uphill,” said Richard Branch, chief economist for Dodge Construction Network. “Fear of an imminent recession seems to have abated, which should provide a boost of confidence to the sector. However, higher interest rates, labor shortages and significantly tighter lending standards will weigh down starts in the final quarter of the year. This will persist for the foreseeable future, lasting until interest rates start to move lower.”
Nonbuilding construction starts lost ground in August, falling 14% to a seasonally adjusted annual rate of $380 billion. The decline follows a strong July which saw the start of a $12 billion LNG project. Nonbuilding starts increased 12% in August when excluding the utility/gas plant category, which fell 45% during the month. Miscellaneous nonbuilding starts shot 39% higher, and highway and bridge starts gained 19%. However, environmental public works starts shed 1%.
Year-to-date through August, nonbuilding starts gained 22%. Utility/gas plants rose 40%, and miscellaneous nonbuilding starts were up 33%. Highway and bridge starts gained 13%, and environmental public works rose 17%.
For the 12 months ending August 2023, total nonbuilding starts were 20% higher than that of August 2022. Utility/gas plant and miscellaneous nonbuilding starts rose 23% and 30%, respectively. Highway and bridge starts were up 17%, and environmental public works rose 18% on a 12-month rolling sum basis.
The largest nonbuilding projects to break ground in August were the $3.5 billion TransWest Transmission Project spanning Wyoming, Colorado, Utah and Nevada, the $2.9 billion Mid-Barataria Sediment Diversion projects in Port Sulphur, Louisiana, and the $1.5 billion New England Clean Energy Connect Power Line in Maine.
Nonresidential building starts gained 40% in August to a seasonally adjusted annual rate of $475 billion, largely due to a surge in manufacturing activity. Nonresidential building starts would have gained 24% when excluding these large manufacturing projects. Commercial starts rose 8% in August led by gains in parking structures and hotels, and institutional starts rose 35% with all sectors but dormitories increasing. Manufacturing starts rose 285% from July to August, fueled by two large projects. On a year-to-date basis through August, total nonresidential starts were 9% lower than that of 2022. Institutional starts gained 3%, while commercial and manufacturing starts fell 8% and 32%, respectively.
For the 12 months ending August 2023, total nonresidential building starts were 6% higher than that ending August 2022. Manufacturing starts were 2% higher. Institutional starts improved 8%, and commercial starts gained 6%.
The largest nonresidential building projects to break ground in August were the $2.5 billion John Palmour Manufacturing Center for Silicon Carbide in Siler City, North Carolina, the $2 billion VinFast electrical vehicle plant in New Hill, North Carolina, and the $1.4 billion Midfield Satellite Concourse at Los Angeles International Airport in California.
Residential building starts fell 1% in August to a seasonally adjusted annual rate of $418 billion. Single family starts gained 2%, while multifamily starts lost 5%. On a year-to-date basis through August 2023, total residential starts were down 18%. Single family starts were 21% lower, and multifamily starts were down 12%.
For the 12 months ending in August 2023, residential starts were 17% lower than in 2022. Single family starts were 23% lower, while multifamily starts were down 3% on a rolling 12-month basis.
The largest multifamily structures to break ground in August were the $530 million Hub on Campus mixed-use building in Knoxville, Tennessee, the $425 million 250 Water Street mixed-use tower in New York, New York, and the $340 million Ritz Carlton residences in North Palm Beach, Florida.
Regionally, total construction starts in August rose in the Midwest, South Atlantic and West regions, but fell in the South Central.
Watch Chief Economist Richard Branch discuss August Construction Starts here.
Propane use has increased efficiency, reduced energy costs, and improved visitor experience Ruby’s Inn takes environmental stewardship seriously, which is why the Propane Education & Research Council (PERC) is awarding it with an Energy for Everyone Hero Award. Located in picturesque Bryce Canyon National Park, the historic inn relies on a clean-energy that is good Read more
Propane use has increased efficiency, reduced energy costs, and improved visitor experience
Ruby’s Inn takes environmental stewardship seriously, which is why the Propane Education & Research Council (PERC) is awarding it with an Energy for Everyone Hero Award. Located in picturesque Bryce Canyon National Park, the historic inn relies on a clean-energy that is good for its customers and the environment—propane.
Propane use at Ruby’s Inn has helped to eliminate 5,200 metric tons of carbon dioxide (CO2) equivalent. This is equal to greenhouse gas emissions from:
- 1,410 gasoline-powered passenger vehicles driven for one year.
- 771,822,585 smartphones charged.
- 795 homes’ energy use for one year.
“Being located next to a national park, we always think about our carbon footprint,” said Lance Syrett, Ruby’s Inn general manager. “We are confident about using propane. It’s efficient, it’s always available, and it’s a clean energy source for us to use.”
Ruby’s Inn has been serving visitors since 1916, well before the Bryce Canyon became a national park. On average, Ruby’s Inn greets as many as 4,000 guests per night. With 19 buildings, 700 hotel rooms, three restaurants, three swimming pools, and a laundry facility handling 19 tons of laundry per day, the resort’s hot water system was under a tremendous amount of strain. A few years back, customer dissatisfaction with cold showers led to financial loss for the resort to the tune of approximately $60,000 a year in guest discounts and refunds.
Ruby’s Inn fixed its hot water demand issues by removing older model open-flame boilers and replacing them with several high-efficient 199,000 Btu storage tank water heaters, and 175 propane-powered tankless water heaters from Rinnai—giving the Inn a completely revitalized system. The propane tankless water heaters also support the Inn’s environmental focus. Based on an energy and environmental analysis of different energy sources, propane tankless systems reduce carbon emissions by up to 50 percent compared with electric storage tank systems.
“The hospitality industry knows how important reliable water heating units are for a successful operation,” said Jim Bunsey, director of commercial business development at PERC. “Water heating represents seven percent of all energy use in commercial buildings. Six building types—lodging, healthcare, retail, education, food service, and office—represent 85 percent of all commercial building water heating energy consumption.”
“It’s important to Ruby’s Inn to use an energy source that is cost-effective, reliable and efficient,” said Syrett. “Propane fulfills those needs and it helps keep the beautiful environment clean. It just makes sense.”
Learn more about Ruby’s Inn’s commitment to the environment and how propane is used at RubysInn.com/Sustainability-Initiative. Learn more about the benefits of propane in commercial and hospitality buildings at Propane.com/for-my-business.
Retailer conducts week-long celebration of Pro Xtra members from September 18-24, 2023 The Home Depot® announced the return of Pro Xtra Week, a biannual week-long event offering special giveaways, vendor demos, as well as exclusive savings on tools and supplies both in-store and online. Pro Xtra Week will take place from September 18-24, 2023. Read more
Retailer conducts week-long celebration of Pro Xtra members from September 18-24, 2023
The Home Depot® announced the return of Pro Xtra Week, a biannual week-long event offering special giveaways, vendor demos, as well as exclusive savings on tools and supplies both in-store and online. Pro Xtra Week will take place from September 18-24, 2023.
Professional painters can enter the Ultimate Pro Van Contest from Sept. 6 to Nov. 16 for an opportunity to win a customized 2021 Ford® Transit 350 Cargo Van upgraded with luxury features by MotorTrend® and fully stocked with KILZ® and BEHR® products to help grow their business.
In select markets, members can enjoy a free Dunkin’® iced coffee or Dunkin’ Refresher, which they can pick up at the Dunkin community cruiser stationed at their local Home Depot stores. When Pro Xtra members scan their Virtual ID in the mobile app at participating community cruisers, they will also receive a Dunkin’ eGift Card.
“We’re always looking for the best ways to support our Pro customers,” said Aron Hayek, senior director of customer loyalty at The Home Depot. “That’s why we offer perks and benefits, like personalized offers, business tools, paint rewards and more to save members time and money. In addition to these everyday offerings, we host Pro Xtra Week to recognize and show appreciation to our loyal Pro customers.”
Pro Xtra is The Home Depot’s free loyalty program built for Pros with rewards and savings that keep building. Members gain access to specialized perks, tools to better manage and grow their businesses, exclusive savings and events in stores and online, paint rewards and more. With three membership tiers, Member, Elite and VIP, Pros will enjoy more benefits than ever.
Andy™ Aluminum Handled Offset Left Snips and Adjustable Siding Gauge earn top honors Malco Products, one of the nation’s leading solution developers and manufacturers of a variety of high-quality tools for the HVAC and building construction trades, today announced that is has earned 2023 Pro Tool Innovation Awards for its Andy™ Aluminum Handled Offset Left Snips in the Hand Tools-Cutting category and Read more
Andy™ Aluminum Handled Offset Left Snips and Adjustable Siding Gauge earn top honors
Malco Products, one of the nation’s leading solution developers and manufacturers of a variety of high-quality tools for the HVAC and building construction trades, today announced that is has earned 2023 Pro Tool Innovation Awards for its Andy™ Aluminum Handled Offset Left Snips in the Hand Tools-Cutting category and its Adjustable Siding Gauge in the Spacers category.
Now in its eleventh year, the Pro Tool Innovation Awards evaluate hundreds of cutting-edge tools from across a wide variety of industries and manufacturers. This year, 99 different manufacturers and brands submitted over 465 products in dozens of categories for a chance to take home a 2023 Pro Tool Innovation Award.
The awarded products stood out for their innovative features, superior power delivery, revolutionary ergonomics, technological advancements, improvements in jobsite safety, or exceptional value.
“We are pleased to receive this recognition from the Pro Tool Innovation Awards, as going the extra mile to create tools that help our end-users perform better on the jobsite is the number one priority at Malco,” said Rebecca Talbot, Malco’s vice president of marketing. “Both of these tools were designed with the end-user in mind, and include specific features designed to improve speed and efficiency on the job.”
Executive director Clint DeBoer expressed admiration for the ongoing innovation in the industry: “This marks our 11th year of hosting the PTIA Awards, and each year we witness an increasing level of innovation from both large and small companies.”
DeBoer added, “every Pro Tool Innovation Award celebrates a product developed by people who really believe that the standard we’re used to is no longer good enough.”
Malco’s two 2023 product award winners include:
Andy™ Aluminum Handled Offset Left Snips 12” (MC12L)
Malco’s Andy Aluminum Handled Offset Left Snips 12” (MC12L) is an innovative new addition to the company’s popular Andy™ snips product line. This versatile tool with offset handles ensures that HVAC and building construction trade pros can make longer, tighter, higher-quality straight and left curve cuts in many types of materials, including sheet metal, metal roofing, aluminum, stainless steel, steel siding, and vinyl.
Verified by internal testing, the MC12L Andy Snips offer the following advantages over competing products:
- Superior material flow for up to 60% faster cutting speeds
- Up to 45% longer cuts when operating one-handed
- The highest maneuverability for continuous cut radii half the size of leading competition, with better cut quality
- Lower jaw made of investment-cast tool steel allows for starter holes as small as ½”
Adjustable Siding Guage (SGA)
Malco’s new Adjustable Siding Gauge (SGA) is an innovative new all-in-one installation tool that eliminates the need to use multiple gauges for varying siding widths, while eliminating the need to use shims and/or have more than one person to complete projects. It’s specially crafted for siding and construction pros, making it the ultimate tool for rapid siding installation both in its simplicity and efficiency of use, saving contractors and installers time and money.
Built with an adjustable 5/16”–5/8” clamping range and an adjustable 4”–8” (1/4” increments) facing range, contractors and installers can quickly and easily hang different types of fiber cement siding, LP Smart Siding and other lap siding of various widths. The adjustable clamp ensures materials are held firmly held in place while the adjustable reveal ensures the siding is properly positioned. Malco’s SGA also supports full 16-foot length lap siding for fast one-person installation.
For more information about Malco Products, visit www.malcoproducts.com.
Carrier has launched its new 6,000-square-foot training center on the West Side of Indianapolis with a ribbon cutting ceremony and several local distributors and public officials present. The event was hosted at one of the largest gas furnace manufacturing plants in the world, Carrier’s Center of Excellence for gas furnace production. The launch of the Read more
Carrier has launched its new 6,000-square-foot training center on the West Side of Indianapolis with a ribbon cutting ceremony and several local distributors and public officials present. The event was hosted at one of the largest gas furnace manufacturing plants in the world, Carrier’s Center of Excellence for gas furnace production. The launch of the technical training center marks the completion of a multi-million-dollar investment by Carrier in training the next generation of skilled HVAC technicians. The center is opening in advance of the 2025 refrigerant phasedown where Carrier technicians will be trained on products using Puron Advance™ (R-454B), Carrier’s next generation lower-GWP refrigerant, in preparation. Carrier is part of Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions.
Over the next 10 years, it is estimated that there will be a 400,000 HVAC technician shortage that may negatively impact homeowner experiences, increase wait times for installation and maintenance of units, and leave business owners with the challenge of finding qualified employees.* Carrier’s new technical training center aims to address this challenge by training more technicians with state-of-the-art technology and labs. The center includes six distinct labs featuring 41 fully functional systems; including three ducted system labs, operational two-pipe and the future three-pipe VRF labs, and a ductless lab, which includes Crossover systems to train on the latest ducted and ductless combinations. Carrier’s existing self-paced, online training courses average 11,000 hours of technical training consumed each year. As a result of this new, in-person technical training center, annual capacity for an additional 30,000 hours of hands-on training has been added.
Carrier focuses on making the highest quality HVAC solutions that matter for people and the planet for generations to come. The network of Carrier distributors and factory authorized dealers will have exceptional training available through the lab to help ensure home HVAC systems are installed properly, alleviating some of the training challenges facing the industry and ensuring homeowner satisfaction. Carrier’s commitment to addressing the technician shortage is further exhibited by its Tech Up program, an ongoing effort to develop and empower the next generation of HVAC technicians.
“Bringing this enhanced technical training center to our dealers has been top of mind as we consider the effects the ongoing technician shortage is having on the industry,” said Braden Cook, Senior Director of Product Management, Training and Service, Carrier. “Offering our complete suite of industry-leading products for comprehensive, hands-on training is just another way we are ensuring our dealers have the best technicians and installers supporting homeowners everywhere.”
For more information visit https://www.carrier.com/residential/en/us/.