“In comments about the market’s most pressing challenges, Top 600 Specialty Contractors are widely optimistic that the worst of pandemic-induced delays are done—buttressed by another year of double-digit revenue growth for listed firms. But the market still suffers from major challenges as firms look to cultivate limited labor resources and manage rising project costs.
The transition from COVID-19-era construction demand to a post-pandemic marketplace with high inflation has been a “tale of two cities” for many subcontractors, says Joel Phelps, chief operating officer at subcontractor Reflection Window + Wall.
“Work was plentiful when interest rates were low,” he says. “Coming out of the pandemic, there was a lot of pent-up demand; consequently, we experienced massive growth, which presents its own challenges and perils.” Keep reading for how top contractors are balancing staying competitive and reconfiguring resources as they navigate persistent challenges and new opportunities. You can also view the complete list of of the Top 600 Specialty Contractors below.
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Location: Atlanta, GA
Product: Reynobond FR (MCM), Morin (Single Skin)
General Contractor: CLAYCO
Architect: Forum
SCAD Forty Four and Forty Five are the latest additions to residential housing, as well as other amenities on the Midtown Atlanta campus for the arts school. The two buildings are connected to an earlier MillerClapperton project, SCAD Forty, to create an interior courtyard that features lawn ornaments and a large video screen clad in Metal Composite Material for movie nights and other events. For the project, MillerClapperton fabricated 37,600 square feet of Metal Composite Material and 89,100 square feet of Single Skin in various profiles.
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Construction industry executives are reporting a more positive outlook in the short-to-medium term according to Engineering News-Record (ENR). The publication’s Construction Industry Confidence Index shows a six point increase this quarter – its highest rating since Q1 of 2022. “Of the survey respondents, 70.2% see a stable or improving market three-to-six months from now, up from 59.8% last quarter. When considering 12 to 18 months from now, 83.1% see either a stable or improving market, compared to 66.6% last quarter.” Regionally, confidence is strongest among firms in the Midwest. while firms in the Rocky Mountain states are the most pessimistic. Confidence in certain markets is down, such as in commercial offices and multi-unit residential, but confidence remains strong in transportation and industrial processes.
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Historic and modern architecture, though distinct in their differences, possess unique allure. While historic structures like Versailles and ancient temples have timeless charm, modern designs by figures like Zaha Hadid and Frank Gehry inspire with innovation. Old buildings offer glimpses into the past, while modern creations can rejuvenate neighborhoods, as seen in the “Bilbao effect.” But what happens when modern marvels merge with existing structures? This rare fusion can yield stunning results. Examples include Zaha Hadid’s futuristic addition to Belgium’s Port House and the harmonious blend of old and new at Canada’s Royal Ontario Museum. Explore a list of more unique projects that “come together to produce something better than the sum of their parts.”
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Recommendation: 5 New Books You Should Read That You Won’t Find in Business School
Produced By: Inc.
“Whether you want to fast-track the growth of your business, get a promotion, expand your professional network, or break into a new industry entirely, there’s no goal that’s impossible to reach with the right help. Read these five books recommended by Inc. from a world-renowned brain coach, billion-dollar founder, former Panera CEO, puzzle master, and record-setting astronaut to break any barrier and make yourself unstoppable at work.”
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