$10B ethane cracker project gets tax-break approval | $4B LaGuardia Airport project will use foreign steel | Hotels plan hundreds of projects in Texas cities
March 22, 2017
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$10B ethane cracker project gets tax-break approval
Exxon Mobil and Saudi Basic Industries Corp. are considering building what would become Texas' largest ethane cracker, and the project cleared a major hurdle when the San Patricio County Commissioners and a local school board approved millions of dollars in tax breaks. The $10 billion project is expected to create 11,000 construction jobs.
FuelFix.com (3/21) 
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Infrastructure & Project Focus
$4B LaGuardia Airport project will use foreign steel
$4B LaGuardia Airport project will use foreign steel
(Patrick Hertzog/AFP/Getty Images)
Renovations at New York's LaGuardia Airport will use steel from China and Canada as well as domestically produced steel, said a spokesman for the Port Authority of New York and New Jersey.
Daily News (New York) (3/20) 
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Hotels plan hundreds of projects in Texas cities
Dallas, Houston and Austin are experiencing a hotel building boom -- Texas' first in a decade, according to STR -- with Marriott, Hilton and InterContinental Hotels Group planning to build hundreds of hotels in the next two to three years. The drivers include recent relocations by corporate headquarters, population growth, the availability of space and the state's development-friendly policies.
The New York Times (free-article access for SmartBrief readers) (3/20) 
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Design-build-finance-maintain contract awarded to consortium
A consortium has been awarded a $460 million contract to design, build, finance and maintain the Highway 427 expansion project in Toronto. Called LINK 427, the consortium will extend sections of the highway and add high-occupancy toll lanes.
Daily Commercial News (Ontario) (3/22) 
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Low natural gas prices lead to scrapping of Alaskan LNG project
The company behind a proposed $1 billion liquefied natural gas project in Alaska has decided to abandon the idea. Japan-based Resources Energy cited the low price of natural gas as the primary reason.
KTVA-TV (Anchorage, Alaska) (3/21) 
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Army museum to rise in Fort Belvoir, Va.
Construction is expected to begin this month on the National Museum of the United States Army in Fort Belvoir, Va. The $200 million, 186,000-square-foot facility should open in 2019.
Fox News (3/16) 
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Alliant Insurance among Leaders in Surety
Merchants Bonding Company recognizes Aliant Insurance Services Inc as a leader in contract surety. Alliant Insurance Services' experienced team of bond professionals are committed to excellence as trusted advisors to their contractor clients. Congratulations from The Common Sense Surety!
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Economic Update
Despite Fed's raising rates, loan data suggests caution
To the delight of the Federal Reserve, bank lending has been growing. However, loans are growing at the slowest pace since 2014, and business loans are growing at the slowest rate in almost 6 years, which suggests rising interest rates and lower appetite for borrowing might dampen efforts to spur the economy.
The Wall Street Journal (tiered subscription model) (3/15) 
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Innovation & Technology
Renderings: Work to start on $400M Fla. bridge
Skanska USA Civil Southeast could start installing pilings in the next few months for the $400 million Pensacola Bay Bridge replacement in Florida. The Florida Department of Transportation has released updated renderings.
Pensacola News Journal (Fla.) (tiered subscription model) (3/21) 
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Association News
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AGC members -- A private offer from GM
When it comes time to buy a new vehicle, your AGC membership pays. We know how hard you work, so we're going to help you lighten your load. AGC members save up to $1,000 off the purchase or lease of most new GM vehicles. Learn more.
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