Construction & Manufacturing Industry to Reach $14.9 Trillion, Globally, By 2022: Allied Market Research
Allied Market Research recently published a report, titled, “COVID-19 Impact Analysis on Construction & Manufacturing Industry by Construction Industry (Building Construction, Transportation Infrastructure, Construction Materials, and Construction Services) and Manufacturing Industry (Packaging, Heating, Ventilation, and Air Conditioning (HVAC), Equipment and Machinery, and Manufacturing Services): Global Opportunity Analysis and Industry Forecast, 2020–2022”. As per the report, the global construction & manufacturing industry generated $14.4 trillion in 2019, and is projected to reach $14.9 trillion by 2022, growing at a CAGR of 5.2% from 2020 to 2022.
Mid-Atlantic Project of the Year: Capitol Crossing Restores D.C.’s Historic Grid
After more than 50 years, a three-block section of northwest Washington, D.C., has returned to the city’s historic grid. The Capitol Crossing team reestablished an area between E Street and Massachusetts Avenue, near Capitol Hill, by infilling air rights above I-395 with the construction of a massive seven-acre platform above the existing highway.
FDOT Steps Up Tear-Down of Damaged Pensacola Bridge
According to the Florida Dept. of Transportation, demolition staffing and equipment resources have been expanded to include five barge-mounted cranes, including two 300-ton units, plus a specialty barge capable of transporting large sections for off-site demolition or delivery to an artificial reef. Two of three barges lodged beneath the structure since the storm have also been removed.
Report: New York City’s annual construction spending projected to drop by $4B
Overall construction spending in New York City, according to the New York Building Congress, will drop from $60.6 billion in 2019 to $55.5 billion in 2020, a decline driven by the COVID-19 pandemic and ensuing recession. Total construction spending is expected to reach $168.5 billion from 2020 through 2022, the group reported in its 2020-2022 New York City Construction Outlook.
Elon Musk’s plan for Vegas Loop system one step closer to reality
The first steps toward expanding The Boring Co. underground tunnel system throughout Las Vegas may be underway, as the Elon Musk-owned company has submitted special use permit and land use applications, according to an announcement from the Las Vegas Convention Visitors Authority.
Florida DOT says Skanska will be on the hook for lost toll revenue following bridge shutdown
The Florida Department of Transportation (FDOT) is asking Skanska USA to cover toll loss the state might incur because of the shutdown of the Pensacola Bay Bridge that the contractor’s Civil Southwest barges damaged last month during Hurricane Sally.
US DOT Picks 18 Projects To Share $220M in Port Infrastructure Grants
The U.S. Dept. of Transportation has awarded $221 million in grants to help finance infrastructure improvements at 18 ports.
The awards from DOT’s Maritime Administration, announced Oct. 15, will go to projects in 15 states, plus the U.S. Virgin Islands. Two states—Texas and Washington—received two grants each.