April 29, 2009
Low interest rates may not boost privately financed construction in 2009
Despite historically low interest rates, privately financed construction will be depressed well into 2010, says CanaData chief economist Alex Carrick. He believes falling corporate profits, weak product demand and the credit squeeze are all contributing to the cyclical malaise.
He expects public sector investment demand will fill in part of the gap. But how effective this investment will be depends on success in resolving three issues.
- There must be effective co-ordination of financing between two and sometimes three levels of government: federal, provincial and municipal.
- Shelf-ready work does not always mean what it implies. There may still be delays for some of these projects based on neighbourhood impact and environmental studies.
- Some local governments will initiate projects without being sure that the funding will come through. Therefore, they are likely to give priority to work that has already been planned or is absolutely essential. This is not the long-term forward-planning intent of the federal and provincial government programs.
Alex Carrick discusses these issues in more detail and construction costs, regional issues and U.S. protectionism in Major Issues Facing Canada’s Construction Industry to the End of this Year.
VIDEO: Buildex Vancouver 2012 at the Vancouver Convention Centre
Buildex Vancouver brings together the construction, design and real estate industries on an annual basis into a giant, two day show at the Vancouver Convention Centre.
VIDEO: Pre-Construction begins on the Evergreen Line
Pre-construction work has begun on the Evergreen Line, an extension of the Skytrain rapid transit system that currently spans Vancouver, Richmond, Burnaby and some of Coquitlam. The new line will extend from Coquitlam all the way to Port Moody, alleviating traffic and offering a green alternative to motorized vehicles.
VIDEO: The Vancouver Regional Construction Association's U35 initiative
Construction industry experts have long warned of an "experience gap" between senior management and young workers just entering the sector. Due to the bottoming out of the industry in the 1990s, the industry has lacked a core group of younger managers and executives to take over once the baby boomer generation retires.
Toronto IIDEX trade show to have renewed focus
The Royal Architectural Institute of Canada (RAIC) will be a co-presenter of this year’s IIDEX/NeoCon Canada conference and expo, which has traditionally been a contract furniture show but will start placing a greater emphasis on construction products, architecture and technology, the event organizer has announced.
Brook Restoration safety training includes swing stage, hazardous materials
Brook Restoration recently opened its own safety centre. In addition to regular safety training like WHMIS (Workplace Hazardous Materials Information System), Brook offers training in aspects such as swing stage, boom and elevated work platform, asbestos, lead, Bobcats and confined spaces.
VIDEO: Remembering the Bentall Four
On January 7, 1981, Gunther Couvreux, Brian Stevenson, Donald W. Davis and Yrjo Mitrunen fell thirty-six floors to their deaths when a fly form attached to the Bentall building in downtown Vancouver came loose.
Efficiency is Ontario trades college goal
Ontario’s current apprenticeship system has failed the province’s youth, says the Ontario College of Trades new chair, Ron Johnson.
Ontario College of Trades chair hopes ratios will be reviewed in first two years
Ron Johnson, the new Chair of the Board of Governors of the Ontario College of Trades and Deputy Director of Interior Systems Contractors Association of Ontario and the Interior Finishing Systems Training Centre, said every individual who has an issue with a compulsory certification and ratio review application will have an opportunity to represent their arguments to a review panel.
VIDEO PROFILE: The Peace Bridge in Calgary, Alberta
The Peace Bridge, a pedestrian and cycling bridge crossing the Bow River in Calgary, Alberta is both a bold project in terms of aesthetics and design and a magnet for controversy.
