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Running on Empty

With an unstable economy and escalating gas prices, every sector of the market is tightening their belts and making concessions, including the construction industry. Construction material costs are at an all-time high, according to the Associated Builders and Contractors trade association. Builders are seeing price hikes on concrete, steel and stone bloat construction budgets. And in some cases, the inflation is even affecting the bidding process. In a recent interview with Baton Rouge Business Report, construction company President Jim Beard expressed concern about the future of several projects his firm has been handling. “If prices continue to escalate and do not stabilize in the near future, it is uncertain if these projects will move forward in 2009. The projects may no longer be feasible.”On the east coast, things don’t appear too bleak. Well, not yet, according to Kevin Tartaglione, president of New Jersey-based Advanced Realty. “I haven’t seen a construction…Log In to Read Full Article

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