Contractor - January 2024

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www.contractormag.com

JANUARY 2024

SERVING PLUMBING, HYDRONIC & MECHANICAL SYSTEMS PROFESSIONALS PLUMBING | PIPING | HYDRONICS | RADIANT | BATH/KITCHEN | TECHNOLOGY | TOOLS | TRUCKS | GREEN | MANAGEMENT

AHR Expo 2024 Preview

Biden Administration Issues Final Rule on Project Labor Agreements SPECIAL TO CONTRACTOR

BY STEVE SPAULDING OF CONTRACTOR’S STAFF

The 2024 Air Conditioning, Heating and Refrigeration Exposition (AHR Expo) will be held this January 22-24 in Chicago, IL. The show is the premiere event for the HVAC/R industry, and, due to its size and scope, attracts attendees from across a broad spectrum of the ➤ Turn to AHR, page 52

The Chicago skyline seen from North Avenue Beach.

Construction Starts Hit 10-Month Low, Declining 15% in November SPECIAL TO CONTRACTOR

HAMILTON, NJ — Total construction starts fell 15% in November, dropping to a seasonally adjusted annual rate of $927 billion, according to Dodge Construction Network. Nonresidential building starts fell 29% during the month, residential starts lost 6%, and nonbuilding starts dropped 2%. ➤ Turn to Construction, page 20

LABEL --Helping HelpingContractors ContractorsRun RunAABetter BetterBusiness BusinessSince Since1954 1954-2401CO_C1, 6-7, 12-13, 20-21, 52-53_Page 1.indd 1

WASHINGTON, DC — On December 18th the Biden Administration issued the final rule implementing Executive Order 14063, officially titled Use of Project Labor Agreements for Federal Construction Projects. The order will require that every prime contractor and subcontractor on a federal construction project of $35 million or more performed within the United States sign a project labor agreement as a condition of winning a contract (with some possible exceptions). ➤ Turn to Biden, page 12

Construction Employment Growth: November 2022 vs. November 2023

Construction Nonresidential* Nonresidential Building Nonresidential STC Heavy & Civil Engineering Residential** Residential Building Residential STC

2.6% 3.2% 4.5% 2.0% 5.3% 1.6% 0.5% 2.1%

0.0

1.0

2.0 3.0 12 Month % change

4.0

5.0

*Includes nonresidential building, nonresidential STC, and heavy and civil engineering **Includes residential building and residential STC Source: Bureau of Labor Statistics

ID 10618326 © Marco Richter | Dreamstime.com

IN THIS ISSUE

FEATURE

of 26 Contractor The Year

Mike Prencavage Jr. —The Genuine Article

22

32

Schwartz on Linhardt on MANAGEMENT HYDRONICS ICC Presents at COP28

38

Feldman on TECHNOLOGY

6 Codes vs. climate change in Dubai. Economic Forecast 24 2024 Residential, commercial, the labor market and more.

PRODUCTS

54

Voltex AL Smart Hybrid Electric Heat Pump Water Heater

1/2/2024 1:53:31 PM


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