In today’s construction news, read about how, according to Zillow, the total value of the US housing market is nearly 50 percent higher than it was before the pandemic, and this is not due to rising property prices. Meanwhile, on September 13, at U.S. Army Garrison Bavaria, a groundbreaking ceremony signaled the beginning of construction on a new military working dog facility. On the other hand, when compared to the prior month, nonfarm payroll employment rose in 33 states and the District of Columbia in August, while job losses occurred in 17 states. The Bureau of Labor Statistics reports that after adding 157,000 jobs in July, total nonfarm payroll employment climbed by 187,000 across the country in August. Lastly, to take advantage of government EV incentives that favor domestic production, Hyundai Motor Group is trying to expedite the development of a new plant in Georgia.
As the Construction Industry Becomes a “Powerhouse,” the Value of the US Housing Market Rises to a Record $52 Trillion
Original Source: US housing market valuation climbs to record $52 trillion as construction ‘powerhouse’ drives the surge
Zillow says the US housing market’s worth is roughly 50% higher than before the epidemic, but not because to rising home prices.
Instead, new development has boosted the market, which rose by $2.6 trillion to $51.9 trillion last year, a record.
Zillow noted “a small chunk of this growth can be attributed to a 1.3% rise in the average value of a US home over the past year, the powerhouse behind this surge has been new construction.” “Builders have reduced the housing deficit by adding new homes this spring and summer.”
Many homeowners are sticking to their low-interest house loans as mortgage rates reach their highest level in 20 years.
Many homeowners are sticking to their low-interest house loans as mortgage rates reach their highest level in 20 years.
According to Zillow, Florida overtook New York as the second-most valuable property market. Florida’s real estate markets have grown over 80%, especially in Tampa, Miami, and Jacksonville.
Florida’s real estate market is heating up as more individuals move there.
A record 26% of homebuyers want to move out of state, according to another Redfin research. Orlando, North Port-Sarasota, and Tampa are prominent Florida destinations.
A New USAG Bavaria Military Working Dog Facility Begins Construction
Original Source: Construction starts on new military working dog facility at USAG Bavaria
Sept. 13 saw the groundbreaking of a new military working dog facility at U.S. Army Garrison Bavaria.
USAG Bavaria leadership, notable visitors, and military working dogs Andy, 8, and Blus, 6, attended the ceremony.
A new, permanent, standard-design military working dog facility began construction with the groundbreaking ceremony. Military working dog kennels built over a century ago will be replaced.
“This kennel is long overdue,” added USAG Bavaria commander Col. Kevin A. Poole. We must look after the 131st Military Working Dog Detachment’s dogs. It tears my heart every time I enter.
kennel. I was helpless for a year, but we are going to break ground on this facility.”
Construction of the new building was scheduled for 2019. Planning began in 2014. The pandemic and inflation delayed the project.
According to Staff Sgt. Nicholas Ames, noncommissioned officer in charge of plans and operations for the 131st Military Working Dog Detachment, “Our old building was built in 1914, and it needed a massive upgrade for health and standard reasons for the dogs, so they have good care and health while staying with us.
Administrative offices, supply areas, entertainment rooms, food prep and storage, medical examination and training rooms, and kennels will be in the 5,070-square-foot (471-square-meter)
Project completion is expected in three years at $4.6 million.
The narcotics and bomb detection canines can track and bite a criminal, according to Ames. “The kennel can only offer seven dogs at the moment. With the new structure, we can shelter 14 dogs.”
The new kennel will open in October 2025 after 635 days of development.
The Combined Military Working Dog Detachment – Europe detachment sergeant, Sgt. 1st Class Steven Staples, said the military working dogs here serve USAG Bavaria in law enforcement. “They’re deployable. We deploy to multiple sites as needed. These canines must be housed in proper kennels and their health must be maintained for community safety.
Colonel Richard Stearns, Commander of the 18th Military Police Brigade, said the facility would help train, protect, and care for our military working dog teams, a key asset in Europe, Africa, and the world. The president, vice president, secretaries of state and defense, important NATO and partner governments, and combatant commanders are supported by these teams worldwide.
A military working dog is trained at Joint Base San Antonio for 120 days. After that, they enter the field and receive daily training.
Around 9 years old, the dogs retire to a former handler’s home.
From 2022, the Number of Construction Employment in the United States Will Rise
Original Source: U.S. construction jobs see increase from 2022
The number of nonfarm payroll jobs in 33 states and DC rose in August, while 17 states lost jobs. National nonfarm payroll employment rose 187,000 in August, following 157,000 in July, according to the BLS.
California created 23,100 jobs during the month, followed by New York (18,100) and North Carolina (17,500). Seventeen states shed 47,700 jobs, with Missouri losing 13,700: the most. Between July and August, Montana employment rose 0.7% and Hawaii fell 0.8%.
A more than full labor market recovery was achieved in August with 3.1 million job gains. Compared to last year, all states and DC created jobs except Mississippi and Rhode Island. Jobs ranged from 402,000 in Texas to 1,400 in Vermont. Mississippi lost 700 jobs and Rhode Island 6,900 year-over-year. Nevada increased 3.9% while Rhode Island fell 1.4% year-over-year.
31 states recorded a rise in construction industry jobs in August compared to July, while 14 states lost them. Monthly changes were zero in Montana, Oklahoma, and Utah. Tennessee shed 2,400 construction jobs while California increased 4,700. August construction jobs rose 22,000 over July. Between July and August, Wyoming rose 3.5% and Tennessee fell 1.6%.
Construction jobs in the U.S. rose 212,000, or 2.7%, from August 2022. While Missouri lost 2,700 construction jobs, Texas gained 21,100, the most. Wyoming led the construction sector with 13.0% yearly growth. North Dakota fell 3.8%.
To Receive IRA Incentives, Hyundai Expedites the Construction of a US EV Plant
OriginalSource: Hyundai Speeds Up Construction Of US EV Plant To Get IRA Incentives
Hyundai Motor Group wants to speed up development of a Georgia plant to take advantage of federal EV incentives for domestic production.
According to Atlanta radio station WABE, Hyundai Motor business President and Global COO Jose Munoz stated the business is hurrying to start electric car and battery production at the $7.6 billion Hyundai Motor Group Metaplant America complex in coastal Georgia.
After striking a cooperation with Georgia Tech to promote hydrogen-fueled vehicle research and producing Hyundai workers, Munoz told reporters in Atlanta that the Inflation Reduction Act (IRA) is pushing Hyundai to develop batteries and EVs faster in the US.
Hyundai is speeding up facility construction to start production in Georgia in 2024.
We decided to double down. We speed the project as much as possible. We expect the January 2025 deadline to be moved up three months. More if possible “Munoz said.
The automaker and its battery partner LG Energy Solution recently invested $2 billion in battery production at the Georgia complex and pledged to hire 400 more people, increasing total employment to 8,500.
Munoz said Hyundai can now make more batteries in Ellabell than expected, enough to power all 300,000 vehicles the company expects to construct there each year.
To comply with the IRA, which gives EV purchasers a $7,500 tax credit if the cars are built in North America using American batteries, Munoz said Hyundai would like to source all batteries in the US.
The executive said the increased expenditure would ensure Hyundai and LG employed “the best possible technology” to create batteries.
Munoz claimed the plant’s quick construction was unaffected by Hurricane Idalia last month. Hyundai may qualify for $2.1 billion in state and local tax credits for the Georgia facility by promising to pay workers $58,105 plus benefits.
Summary of today’s construction news
To sum it up, the market leaders are also changing as a result of housing patterns. Miami ($1.3 billion) has surpassed Washington, DC ($1.1 billion) to become the fifth most valued metro area in the United States, behind New York ($4.2 billion), Los Angeles ($3.7 billion), San Francisco ($1.9 billion), and Boston ($1.3 billion).
Meanwhile, administrative offices, supply areas, multi-purpose rooms, food preparation and storage, medical examination and training rooms, and kennels will all be available in the new 5,070 square foot (471 square meter) building.
On the other hand, jobs in the construction sector increased in the United States by 212,000 over the previous year, or 2.7% more than they were in August 2022. Texas saw the biggest job growth of any state with a gain of 21,100, while Missouri saw a loss of 2,700 jobs in the construction industry. Wyoming had the highest annual growth rate in the construction industry, measured in percentage terms, at 13.0%. North Dakota had a 3.8% reduction over this time.
Lastly, according to Munoz, the plant’s construction is moving forward quickly and was unaffected by Hurricane Idalia last month. Hyundai has promised to pay employees an average monthly salary of $58,105 plus perks, and as a result, the car manufacturer may be eligible for $2.1 billion in state and local tax credits for the Georgia plant.
