Prices of materials and services used in new nonresidential construction jumped more than 21 percent from March 2021 to March 2022, according to an analysis by the Associated General Contractors of America of government data released today. The association urged the Biden administration to relieve major cost pressures by removing the remaining tariffs on aluminum, steel, and Canadian lumber.
For more than two years, the U.S. construction industry has been buffeted by unprecedented increases in material costs, supply-chain bottlenecks, and a tight labor market. ³Ô¹ÏºÚÁÏÍø’s Construction Inflation Alert is intended to help owners, public officials, and others understand what contractors are experiencing. It also outlines steps owners and contractors can take to adjust to the fast-changing market conditions.
³Ô¹ÏºÚÁÏÍø helps construction firms prepare for ripple effect
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On March 30, the U.S. General Services Administration (GSA) issued new carbon standards under its Facilities Standards for the Public Buildings Service (P-100) to require the use of lower carbon concrete products and asphalt paving practices for all GSA design and construction contracts that involve at least 10 cubic yards of those materials. The general contractor now must source concrete that meet specific carbon requirements; collect and maintain documentation associated with both materials; and, in the case of asphalt, employ carbon reduction practices such as recycled content or reduced mix temperatures.
³Ô¹ÏºÚÁÏÍø is pleased to announce the appointment of new members to serve on its Environmental Forum Steering Committee. Members of the steering committee have direct access to federal regulatory officials, influence over ³Ô¹ÏºÚÁÏÍø’s environmental agenda, and a means to exchange valuable information with one another and industry peers. Join us in welcoming the new members.