Despite Dip, South Still Leads in Future Construction Projects - Innovate Arkansas
Despite Dip, South Still Leads in Future Construction Projects
By Serenah McKay, 8/20/2012 12:00:00 AMThe Association of Builders and Contractors says the Southern region, which includes Arkansas, continues to report the nation's lengthiest construction backlog despite a slight drop in the second quarter.
The ABC's Construction Backlog Indicator, released Aug. 14, showed the South had a commercial construction backlog of 8.75 months for the quarter, compared to 8.88 months in the previous quarter.
The indicator measures the amount of non-residential construction work under contract. A backlog of less than eight months is statistically associated with construction spending declines, while a backlog of more than eight months indicates future spending increases.
The West registered the largest gain among the four regions, with construction backlog rising from 6.6 months to 7.5.
ABC chief economist Anirban Basu wrote in the report that the South's strength remains in commodity-related production, including food processing and oil and natural gas, as well as investment in manufacturing plants and equipment.
"However, average backlog has declined for three consecutive quarters in the South," he wrote, "which may be due to a bit of a slowdown in energy-related investment because of the low price of natural gas."
The University of Arkansas at Little Rock has named Paula Casey as its interim vice provost for research and dean of the graduate school.
Arkansas State University in Jonesboro is set to implement a program this fall that will require all freshmen to use an iPad as part of a first-year experience course called "Making Connections."
Innovate Arkansas client Movista was born in the MBA program at the University of Arkansas Walton Business College, but when it came time to put down permanent roots, co-founders April Seggebruch and Stan Zylowski chose a house just off the square in downtown Bentonville.
While he supports enterprises and technologies that embrace sustainability and renewable energy as president and CEO of BlueInGreen LLC, Clete Brewer is first and foremost about the business side.