When the ball drops on December 31st, one of the most eventful years in the construction industry will have come to a close. Whether it was politics, inclement weather, or emerging technology, 2017 was chock full of intriguing storylines that are sure to impact construction in the U.S. for years to come. Our Orlando construction lawyers stay abreast of stories affecting our industry and have compiled a list of the most significant ones of 2017. This includes:
The President’s Infrastructure Plan
Upon taking office, one of President Donald Trump’s first publicly announced initiatives was to make sweeping improvements to the nation’s infrastructure. The plan reportedly comes with a $1 trillion price tag and could mean a great deal of work for construction companies throughout the country for years to come. While the plan draws its share of controversy, it’s a story that is sure to be debated well into 2018 and, perhaps, beyond.
Inclement weather impacted the construction industry in as significant a way as it has in sometime. Hurricanes Harvey, Irma, and Maria did immense damage to communities in Houston, southwest Florida, and Puerto Rico in a matter of weeks this summer. Images from these areas are awe-striking and the financial toll is stunning as well. Hurricanes Harvey and Irma caused between $150-200 billion in damage according to Moody’s Analytics. While these storms are creating many opportunities for contractors, it further extenuates the industry’s shortage of skilled laborers.
More than any year, 2017 has been the year of emerging technology in the construction industry. Self-driving vehicles are making construction safer and more efficient. Drones are capturing more information, more rapidly and performing tasks that are unsafe for humans. Augmented reality is impacting the level of accuracy in construction and serving as a powerful training tool.
These are just a few of the stories that have impacted the construction industry in 2017. For more stories, visit part two of this series.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.