Labor productivity has increased across all industries by 2.8% in the last two decades while the construction industry has only increased by 1% during the same time according to Reinventing Construction: A route to higher productivity, a McKinsey Global Institute (MGI) report. Experts believe that digitization could be
A recent FMI/CFMA Ownership Transfer and Management Succession Industry Survey revealed that many contractors were in the process of transferring ownership prior to the start of the pandemic. As the pandemic subsides and normalcy resumes, companies are looking for ways to jumpstart those transition plans that have gone dormant over
Many economists and industry leaders believe that even a moderate infrastructure investment would significantly help the construction industry in the wake of the COVID-19 pandemic. While some sectors of the industry will likely see more growth than others, the American Jobs Plan proposed by President Biden would spend $1.2 trillion
As the construction market continues its rebound from the crippling losses it took during the Great Recession, contractors must be increasingly diligent and disciplined in choosing which subcontractors they partner with. The old adage of, “we have done business with them for years,” no longer cuts it in today’s rapidly