States face flooding, other problems in Midwest amid storms
U.S. Home Construction Jumps Nearly 10 Percent in January
Trump's Plan to Rebuild US Roads Relies on Local Dollars
How OSHA Is Trying to Catch Up
Automation in the Construction Industry
Weekly Grind: Biggest Construction Award Winners and New Equipment to Hit the Market
Smart Buildings Continue Their Rise in 2018
Friday Funny: The Productivity Placebo
By Jeff Wing
July 1, 2016
England’s construction sector is nervously tightening its safety harness. In the wake of the British people’s expressed decision to exit the European Union, an array of large and mid-scale construction projects in the UK are threatened with hiatus as stunned international backers see the possibility of having their investments obsoleted by the pending EU/England divorce. UK insiders say that ~ £20b in foreign construction investment is at risk. The list of construction projects in the UK that have hit pause are in two categories: projects partially underwritten by EU funding, and projects whose functional necessity follows from a presumed England/EU relationship that will soon no longer exist.
For instance, the London Gateway an enormous port complex, partly managed by Dubai’s DP World and about halfway completed (though currently in use), was pointedly designed as continental gatekeeper to the outsized container ships whose massive cargo holds would, once docked at the sprawling new London port, disgorge and divvy up their cargo among smaller ships which, by EU member rights, would then be able to ply the more regional waterways into the heart of Europe. Now that England stands to give up EU membership, those direct-to-Europe water routes may be going away, and other European coastal facilities are now being hastily considered as alternative ports of entry for the smaller ships.
The Atlantic Gateway project in Manchester and Liverpool is another investment and construction behemoth under threat thanks to Brexit. The future of the planned shipping mega-complex, the most expensive building project in UK history and a much-anticipated shot in the arm for England’s once-mighty Northwest industrial region, is in doubt. A spokesperson was at pains to point out that EU or no, England is and will remain a major trading partner with the world, and the massive port project is aligned with that ongoing state of affairs.
But there is a sense that, for the moment, handwringing investors are reacting more to the fallout of world opinion than to the Brexit details themselves.
Two concrete reasons for concern in the Brexit fine print; the unconstrained European “city-to-city” commercial air corridors enjoyed by EU members will no longer be available to the UK airlines, and the change in direct flight volume may result in some airport closures in Greater London. And Asian car makers are openly discussing removal of their assembly lines from the UK if separation from the EU is going to mean export tariffs on automobiles shipping out of British factories.
But as the EU and England extricate themselves from a decades-old, contractually complex marriage, there is still a ray of hope that homely old school Market Forces will step in and calm the storm. While publicly held homebuilders in England saw an immediate 20% drop in share prices following the Brexit vote, those share prices are already bouncing back. Why? There is more demand for housing in England than there are houses. It is hoped that these sorts of people-centric fundamentals will show the way forward and mitigate the pain of separation somewhat. Not all divorces have to be nasty, after all.
Technophobes, Construction Titan in Court, and Terrible Temperatures... Here's the Rundown for this Week
Ever wonder what’s the difference between a general contractor and construction manager? Well, you’re not alone! To help clear up any confusion, we’ve broken down the roles and responsibilities of ... Read More
If you're a construction worker, you're most likely working physical labor and it can get hot if you're working under the sun. Here's a guide for h... Read More
Pete says that Procore quickly breaks down the complicated pieces of data in his jobs, and presents them to the end user in a digestible format. "T... Read More
Hear Brad Hyatt, Associate Professor at California State University Fresno, discuss what students are learning in school to prepare them for const... Read More
Construction has always had a somewhat complicated relationship with technology. Over the last few decades there have been improvements in material... Read More
J. Colin Cagney, a director, KPMG Major Projects Advisory, knows that while most companies want to use data analytics to increase, they’re often no... Read More
Congress has passed the final version of the federal tax reform bill, and it will soon head to President Donald Trump to be signed into law. The qu... Read More
January 9, 2018