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McGraw-Hill Construction Dodge and The AIA Draw Connection Between Financing and Stalled Projects in a Newly Released Report
Report links 20 percent of stalled U.S. projects to ongoing credit crunch
New York, NY – November 7, 2011
McGraw-Hill Construction Dodge is a primary source of data for a newly released report by The American Institute of Architects (AIA) that correlates the challenges of construction financing to the incidence of stalled projects in the U.S., holding back job creation in the construction industry.
Analysis of Dodge data concludes that the share of projects stalled due to financing problems has nearly doubled since 2008, with the education and multifamily sectors seeing a higher share of stalled projects.
“The increased difficulties construction projects have experienced in securing financing is of real concern to our customers, and this report highlights its extent and impact on the overall U.S. economy and on jobs,” said Keith Fox, president of McGraw-Hill Construction. “We are glad that we are able to support The AIA in building awareness on this critical topic through the analytics derived from our proprietary Dodge database, and hope it enables greater advocacy to move more of these projects forward.”
About McGraw-Hill Construction:
McGraw-Hill Construction connects people, projects, and products across the construction industry. For more than a century, it has remained North America’s leading provider of project and product information, plans and specifications, and industry news, trends, and forecasts. McGraw-Hill Construction serves more than one million customers in the global construction industry through Dodge, Sweets, Architectural Record, Engineering News-Record, GreenSource, and SNAP. To learn more, visit www.construction.com or follow @mhconstruction on Twitter.
About The McGraw-Hill Companies:
Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the knowledge economy. Leading brands include Standard and Poor’s, McGraw-Hill Education, Platts energy information services, and J.D. Power and Associates. The Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at www.mcgraw-hill.com.
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