ABC GOES TO SPACE
Associated Builders and Contractors Florida East Coast chapter, its training arm ABC Institute Apprenticeship College and Space Florida have signed a Memorandum of Understanding to bolster Florida’s construction workforce and support the growing aerospace industry. The partnership includes plans to develop a new regional headquarters on the Space Coast, serving as a hub for expanded training and workforce development. The MOU outlines joint efforts to advance skilled-trades education and innovation aligned with the state’s space economy.
ABCI, Florida’s largest apprenticeship education provider, offers debt-free training programs tailored to the construction and aerospace sectors. “This is a strategic alignment of two industries critical to Florida’s future,” says Peter Dyga, ABC FEC president and CEO. Rob Long, president and CEO of Space Florida, adds, “We’re committed to building an aerospace workforce to meet rising demand.” The initiative comes as Florida sees an increasing need for skilled labor in the aerospace, defense and advanced manufacturing sectors.
HIGH-RENT DISTRICT
The American Rental Association has released its updated forecast for the U.S. and Canadian equipment rental industries, showing continued growth despite economic headwinds. The U.S. construction and general tool rental industry ended 2024 at .3 billion—up 8% from 2023—and is projected to grow another 5.2% in 2025, reaching .5 billion. Growth is expected to moderate to around 4% in 2026 and 2027 due to cautious investment and high financing costs.
Still, the rental market is expected to grow at roughly twice the rate of GDP and inflation. Rental penetration for construction and industrial equipment reached a record 57% in 2024. In Canada, the market hit $5.73 billion in 2024 and is projected to grow to $5.95 billion in 2025, with even stronger growth anticipated in 2026 (7.2%) and 2027 (6.7%).
The industry supports 666,000 U.S. jobs, contributes $47.4 billion in wages and adds $115 billion to GDP through direct and indirect impacts.
