A $1 billion medical project could be coming to Carmel, Ind. A letter sent to homeowners suggests that plans call for a 40-acre development with parking garages, an inpatient hospital and supporting medical buildings.
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A public-private partnership will build a new city hall in Long Beach, Calif. Private developers are constructing $520 million worth of public projects in exchange for land and the right to develop stores, apartments and possibly a hotel.
A $412 million medical research center planned for St. Jude Children's Research Hospital in Memphis, Tenn., is part of a $1 billion expansion effort. Construction is expected to begin in the spring and employ 5,000 workers.
Construction is to begin this month on a project to widen seven miles of the Northeast Extension of the Pennsylvania Turnpike between the exits for Lansdale and Quakertown, with tolls funding the project's entire cost. The Pennsylvania Turnpike Commission will hold an open house Wednesday to educate the public on the $225 million project.
The Port Authority of New York and New Jersey approved a $364 million project to repair the Holland Tunnel, with work to begin next year. The tunnel was damaged during Superstorm Sandy, and the project will improve the tunnel's resiliency.
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Goldman Sachs analysts expect the cost of servicing US debt will surge due to climbing bond yields and the expansion in borrowing amid a growing economy. "In the past, as the economy strengthens and the debt burden increases, Congress has responded by raising taxes and cutting spending," the analysts wrote, noting the opposite is now true.
Using drones on construction sites can help managers "improve safety, project efficiency and data accuracy," writes Mike Danielak, director of client strategy and business development at Skyward. Drones help companies perform survey and design tasks for less cost and offer the "added bonus of gathering the data safely," he writes.
The federal gas tax is no longer collecting enough revenue to fund infrastructure in the US, and the White House's infrastructure plan would allow for heavier reliance on tolling, Justin Fox writes. The federal gas tax has remained essentially the same since 1993, and inflation and better fuel mileage have caused revenue from the tax to decline, Fox writes.
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