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Government and Industry Working Together.


pdf icon Government and Industry Working Together. (4463 K)
Wright, R. N.

Construction Business Review, Vol. 5, No. 1, 44-49, January/February 1995.

Keywords:

industries; research facilities; construction

Abstract:

Construction is one of the nation's largest industries and a critical asset for enhnacing the international competitiveness of U.S. industry. In 1993, new construction put in place amounted to $470 billion, eight percent of the GDP, and provided employment for six million persons. New construction put in place in 1993 was 44 percent residential, 28 percent public works. When renovation is included, construction probably amounts to about $800 billion annually, 13 percent of GDP and 10 million jobs. Constructed facilities shelter and support most human activities. Their quality affects the competitiveness of U.S. industry, the safety and quality of life of the people and environmental quality. For U.S. industries to compete internationally, their technologies must be superior and their production facilities must be more cost-effective than their competitors'. Morover, the quality of construction strongly affects the wealth of the nation; over five-eights of the nation's fixed reproducible wealth is invested in constructed facilities.