Contractors Hot Line June 28, 2024 | Page 30

JCB has started the construction of its new $ 500 million factory in San Antonio, Texas, the largest investment in the company’ s history.

The 720,000 square-foot facility will become JCB ' s second largest globally and will create 1,500 new jobs over the next five years.

“ Construction equipment manufacturers sell more than 300,000 machines every year in North America, making it the single largest market in the world,”

Chairman Lord Bamford said.“ JCB has been growing its share of this important market steadily over the past few years and the time is now right to invest in our manufacturing capacity in North America, where we already have one factory.”

“ JCB really has come a considerable way since we sold our first machine here 60 years ago and it gives me immense pleasure to see how our business has grown in North America,” Bamford added.

The National Center for Construction Education and Research( NCCER) has published its 2024 Construction Craft Salary Survey, revealing that skilled craft professionals continue to earn impressive wages. The survey compiled responses from 183 organizations, encompassing nearly 323,000 employees from the industrial, commercial, and residential construction sectors across the United States.

The findings show that average annual salaries range from $ 52,520 to $ 89,609, with over 80 % of positions reporting earnings above $ 65,000. General foremen and instrumentation technicians lead the way, with salaries exceeding $ 89,600 and $ 84,700, respectively. These figures represent base annual earnings and exclude overtime, per diem, and other common construction industry incentives.

Salary levels for skilled professionals are influenced by factors such as construction type, credentials, certifications, and experience. The U. S. Bureau of Labor Statistics projects that employment in construction and extraction occupations will grow at a rate comparable to the average for all occupations through 2032. As the industry confronts a growing workforce shortage, it ' s estimated that construction employers will need over half a million new skilled workers each year.

www. contractorshotline. com June 28, 2024 29