Grill of the city
Photo courtesy of Burns & McDonnell
Tim Faber
Vice President, Transmission and Distribution, Great Lakes Region
Burns and McDonnell
Construction is going well in Chicago, Faber says, with major regional projects in the energy, water, transportation, industrial and commercial markets. A number of significant jobs are also on offer in the next 18 months in water infrastructure, he adds, with spending in the sector trending upwards from early 2023. But the supply chain and shortage of labor shortages persist, and inflation remains a challenge. the administration’s actions on tariffs and immigration will affect that,” he says.
Faber is also “watching long-term interest rates. The Federal Reserve cut interest rates for the second time in November, but that hasn’t translated into lower long-term rates. If they do cut, we expect see more projects moving forward in early 2025, especially with so many delays in the last year.”
Demand for energy infrastructure is extremely high, he adds, with rising energy needs and increasing grid resilience putting pressure on companies to invest additional capital.
