Accession Number : ADA524498


Title :   Construction. A Report on the Industry


Corporate Author : INDUSTRIAL COLL OF THE ARMED FORCES WASHINGTON DC


Personal Author(s) : Conway, Hugh ; Dunn, Colin ; Khalil, Gary


Full Text : https://apps.dtic.mil/dtic/tr/fulltext/u2/a524498.pdf


Report Date : Jun 2004


Pagination or Media Count : 43


Abstract : This paper captures a comprehensive five-month study of the construction industry. It seeks to define the industry and identifies current conditions and industry trends. It reviews several challenges confronting the industry and examines the role of government in shaping its future and overcoming these obstacles. Three essays provide a deeper examination of several issues relevant to the industry today. The highly competitive construction industry is a powerful engine for the U.S. economy, providing strength and stability to our national Gross Domestic Product (GDP). A healthy construction industry creates jobs, fuels the economy, enhances the quality of life for Americans, and is an essential component of our national security. In 2003, construction continued to track its performance as a generally healthy and moderately profitable industry. The construction industry grew at a moderate pace in the last year in despite a weakening economy and chronic shortages of skilled and semi-skilled labor. The economic stimulus package, a rebounding economy, and continued low interest rates fueled unprecedented increases in housing construction and helped stimulate modest commercial construction. Value in the industry remains strong with projections for limited growth prospects domestically and potentially significant opportunities in the international sector. Industry data shows evidence of a continuing trend toward consolidation through acquisitions and mergers, forcing smaller construction-related companies to increase their productivity to remain competitive. This trend is driving an accelerated use of information technology tools to improve efficiency. As state and local governments find it increasingly difficult to raise revenues to build and maintain needed infrastructure, alternative financing mechanisms involving private financing of public infrastructure are becoming more widespread.


Descriptors :   *NATIONAL SECURITY , *CONSTRUCTION , GOVERNMENT PROCUREMENT , INFORMATION SYSTEMS , INFRASTRUCTURE , SHORTAGES , AFGHANISTAN , CONSTRUCTION EQUIPMENT , POLICIES , IRAQ , ECONOMICS


Subject Categories : Government and Political Science
      Mfg & Industrial Eng & Control of Product Sys
      Military Operations, Strategy and Tactics


Distribution Statement : APPROVED FOR PUBLIC RELEASE