National, Global Economic Woes Voted Top Construction Story for 2008
January, 2009
Chicago, IL- Upheaval in the nation’s financial markets and its far-reaching ripple effects across the global economy has been voted the top construction story of 2008 in the annual survey conducted by the Construction Writers Association (CWA).
Economic conditions that many experts approached with cautious optimism at the beginning of 2008 soon spiraled into a string of calamities that has halted privately funded construction in many parts of the country, crippled entire industries, and depleted state and local government treasuries. The economy was also buffeted by a summertime spike in gasoline prices and a rapid erosion of consumer spending.
“No market, no industry, no institution has been unaffected by these trends,” observed CWA president Brenda Aschliman, who serves as Director of Corporate Communications for WALTER P MOORE, Houston. “What’s even more troubling is the uncertainty as to when we’ll reach the so-called ‘bottom’ and start a recovery. About the only thing most experts agree on is that it will take a long time.”
Finishing a close second in the survey was Barak Obama’s historic win in the 2008 presidential race, and his subsequent commitment to make infrastructure construction a key element of his economic stimulus program. Third place went to the 11-month reconstruction of the I-35W St. Anthony Falls Bridge in Minneapolis, the collapse of which was named CWA’s top story for 2007. Completed three months early, the new $234 million design-build project is two lanes wider than its predecessor and contains an advanced sensor system that will allow for easier and more comprehensive monitoring throughout its estimated 100-year lifetime.
Rounding out the top 5 stories in the 2008 CWA survey were the growing emphasis on green and sustainable design, the spate of tower crane accidents at several construction sites across the country, and disasters such as Hurricane Ike and the Midwest floods. Several other high-profile projects also received votes, including the numerous facilities constructed for the Beijing Summer Olympics, and the $4.1 billion Burj Dubai skyscraper in the Unite Arab Emirates.
The Construction Writers Association, founded in 1958, is a non-profit, non-partisan, international organization for journalism, public relations, photography, and communications professionals serving the information needs of the construction industry. By providing opportunities for networking, education, and recognition, CWA promotes a strong community and improves the quality of construction writing. www.constructionwriters.org.
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Deborah J. Hodges
Executive Director
P.O. Box 14784
Chicago, Illinois 60614
Telephone 773 687-8726
Fax 773 687-8627
info@constructionwriters.org