Construction
February 7, 2023
3 min read February 2023 — Richard Baumert, principal at Millennium Partners Boston, talked with Invest: about their $1.3 billion development opening in April 2023....
February 1, 2023
2 min read February 2023 — Invest: spoke with Johno Harris, president of real estate owner and developer Lincoln Harris, to discuss the dynamics of...
January 31, 2023
Writer: Joshua Andino 2 min read January 2023 — Mayor Ken Welch delivered his State of the City address, where...
January 30, 2023
2 min read January 2023 — San Antonio’s construction industry has had a hard time keeping up with the region’s...
January 24, 2023
Writer: Joshua Andino 2 min read January 2023 — Eli Lilly is expanding its RTP campus. Another 100 jobs are...
January 19, 2023
Writer: Joshua Andino 2 min read January 2023 — Nashville isn’t slowing down. With economic tailwinds carrying the city and...
January 18, 2023
Writer: Joshua Andino 2 min read January 2023 — Charlotte’s first four-year medical school and innovation district broke ground yesterday....
January 17, 2023
Writer: Joshua Andino 2 min read January 2023 — The momentum behind keeping the Tampa Bay Rays in St. Petersburg...
January 12, 2023
Writer: Joshua Andino 2 min read January 2023 — Jacksonville and the North Florida markets entered the new year with...
January 11, 2023
3 min read January 2023 — Invest: spoke with Andrew Pearl, vice president and division manager of national construction company...
January 9, 2023
Writer: Joshua Andino 2 min read January 2023 — Universal recently filed a petition to establish the Shingle Creek Transit...
January 5, 2023
Writer: Gabriela Enamorado 2 min read January 2023 — Atlanta is known for being a business-friendly and diverse region that...
January 4, 2023
2 min read January 2023 — Invest: spoke with Keith Poettker, chairman and CEO of Poettker Construction, to discuss the...
December 29, 2022
Writer: Jerrica DuBois 3 min read December 2022 — Miami has been known to be very business centered, and the...
December 29, 2022
Writer: Eleana Teran 3 min read December 2022 - As the New Year approaches, Philadelphia's top brass in the public...
December 28, 2022
3 min read December 2022 — In an interview with Invest:, Tim Carl, CEO of national interdisciplinary design firm HGA,...
December 28, 2022
Writer: Eleana Teran 2 min read December 2022 - The Twin Cities are expected to continue thriving in 2023, with...
December 27, 2022
2 min read December 2022 — Invest: was joined by Michael Russell, CEO of H.J. Russell, to discuss the variety...
December 19, 2022
3 min read December 2022 — In an interview with Invest:, Barb Lau, executive director of the Association of Women...
November 29, 2022
2 min read November 2022 — Invest: spoke with Jeffrey Hipschman, senior managing director of CBRE, about the challenges and...
November 23, 2022
2 min read November 2022 — In case of a recession, the strategic response of GFF Architects is to diversify....
November 23, 2022
Writer: Joshua Andino 2 min read November 2022— Interest rates are rising, the market is slowing, but are housing prices...
November 16, 2022
Writer: Eleana Teran 3 min read November 2022 — Across residential, commercial, retail and office, Minneapolis-St. Paul’s real estate landscape...
November 9, 2022
Writer: Ryan Gandolfo 2 min read November 2022 - It seems like everywhere you look there are cranes in the...
November 4, 2022
2 min read November 2022 — Chris Scott, CEO of Scott + Reid General Contractors, told Invest: his thoughts on...
November 4, 2022
2 min read November 2022 — Invest: spoke with Samantha DeAlmeida, president of the Associated Builders and Contractors of New...
October 31, 2022
Writer: Joshua Andino 2 min read October 2022 — Orlando’s rent control ordinance was ruled unconstitutional late last week, even...
October 18, 2022
2 min read October 2022 — In an interview with Invest:, John Curry, CEO of general construction firm Knutson Construction,...
October 18, 2022
Writer: Joshua Andino 2 min read October 2022— With companies looking to bring employees back to the office, employers are...
October 14, 2022
2 min read October 2022 — Invest: spoke with Robyn Popa, managing principal of the San Antonio Office of Pfluger...
October 11, 2022
2 min read October 2022 — Labor shortage continues to be a big challenge for businesses, especially at the entry...
September 28, 2022
Writer: Joshua Andino 2 min read September 2022 — Orlando has begun exploring a tenant bill of rights, with the...
September 27, 2022
Writer: Eleana Teran 2 min read Septemeber 2022 — As the labor shortage continues to affect most industries across the...
September 21, 2022
3 min read September 2022 — Minneapolis-St. Paul’s effervescence is a boon to local contractors and subcontractors. In an interview...
September 8, 2022
2 min read September 2022 — In an interview with Invest:, Charlie Wilson, CEO of CT Wilson Construction, talked about...
September 1, 2022
Writer: Eleana Teran 2 min read August 2022 — As Atlanta looks to close the homeownership gap and develop more...
September 1, 2022
Writer: Ryan Gandolfo 2 min read September 2022— Growth in Nashville has been unparalleled over the past several years. In...
September 1, 2022
2 min read September 2022 — As TDK Construction is approaching $2 billion in stabilized, under-construction and lease-up units, the...
August 9, 2022
Writer: Joshua Andino 2 min read August 2022 — In the wake of the pandemic, typically-out-of-sight building systems such as...
June 15, 2022
2 min read June 2022 — Invest: spoke with Rex Kirby, president of Verdex Construction, and discussed the rapid population...
June 9, 2022
Writer: Ryan Gandolfo 2 min read June 2022 — As more companies are encouraging workers to return to the office,...
June 3, 2022
2 min read June 2022 — Wilson & Girgenti is experiencing a gangbuster start to 2022. In an interview with...
June 1, 2022
Writer: Alejandro Sanchez 2 min read June 2022— As Palm Beach County’s economy continues to thrive, local architects are finding...
May 27, 2022
2 min read May 2022 — Civil engineering firm Bridgefarmer & Associates, Inc. has grown 25% in the last three...
May 25, 2022
The pandemic ignited discussions about the purpose of spaces and how they should be designed. With Invest:Insights, CEO of USA...
May 24, 2022
Connecting with the community and designing spaces that are aligned with the goals of clients is something that Irene Vogelsong,...
May 24, 2022
As a family-run business that started with 12 employees and now has over 1,700, CSI International understands how to creatively...
May 17, 2022
Despite an increasingly challenging labor market, last year Poettker Construction Company grew its employee base by 18% with new hires...
April 26, 2022
Writer: Joey Garrand 2 min read April 2022 — While the construction industry has been viewed historically as slow to...
April 14, 2022
Writer: Alejandro Sanchez 2 min read April 2022 — Despite labor shortages and the rising cost of materials, construction in...
April 13, 2022
https://youtu.be/gztVgXyK22c A turbulent global supply chain has been at the forefront of discussion in the construction industry. With Invest:Insights,...
March 31, 2022
Writer: Jerrica DuBois 2 min read March 2022 — Construction is so commonplace that it’s hardly noticeable when a project...
March 31, 2022
2 min read March 2022 — In an interview with Invest:, Manny Synalovski, founder and managing principal of full service...
March 23, 2022
2 min read March 2022 — Gagnon Development specializes in new construction of commercial and residential properties throughout the state...
March 11, 2022
3 min read March 2022 — Celebrating their 100 year anniversary, Business Manager Greg Lalevee of Operating Engineers Local 825...
March 8, 2022
2 min read March 2022 —In an interview with Invest:, Merilee Meacock, partner at KSS Architects, discussed the digital transformations...
February 22, 2022
2 min read February 2022 — In an interview with Invest:, Pat Rodgers, president and CEO of Rodgers, talked about...
February 7, 2022
Writer: Caty Hirst 2 min read February 2022 — Nashville continues to attract leading advanced manufacturing companies, with two deals...
February 2, 2022
Writer: Alejandro Sanchez 2 min read February 2022— As the demand for their services continues to grow, architecture and construction...
January 27, 2022
2 min read January 2022 — T&M Associates has seen massive gains in the past year and Gary Dahms, president...
December 9, 2021
Writer: Capital Analytics 2 min read December 2021— While lingering challenges remain, Atlanta’s construction industry finds itself seemingly busier everyday....
December 8, 2021
2 min read December 2021 — Tampa Bay's demographic influx is fueling construction demand while the industry continues to tackle...
December 7, 2021
2 min read December 2021 — Volpatt Construction is one of Western Pennsylvania’s leading general contracting and construction management firms....
November 30, 2021
2 min read November 2021 — Timothy O’Brien sees the influx of new residents and businesses into Charlotte as an...
November 24, 2021
Writer: Alejandro Sanchez 2 min read November 2021— Now that Charlotte has the money to rebuild its transportation center, just...
October 20, 2021
2 min read October 2021 — Strada is a cross-disciplinary design firm that collaborates to create places that people truly...
October 15, 2021
2 min read October 2021 — President and CEO, Kevin Haney, of Colliers Engineering & Design was interviewed by Invest:...
October 7, 2021
2 min read October 2021 — Jeff Hardin, founder and CEO of Straticon, spoke to Invest: and explained why he...
August 31, 2021
Writer: Max Crampton-Thomas 2 min read August 2021 — Nashville is bustling with construction developments amid a commercial comeback, a...
August 25, 2021
Writer: Joshua Andino 2 min read August 2021— While many consider low interest rates to be a factor in fueling...
August 20, 2021
Writer: Joshua Andino 2 min read August 2021 — Miami’s office segment continues to show signs of momentum, with Schonfeld...
August 6, 2021
Writer: Max Crampton-Thomas 2 min read August 2021 — Nashville is one of the places to be when it comes...
August 5, 2021
Writer: Max Crampton-Thomas 2 min read August 2021 — Brasfield & Gorrie is one of the largest privately held construction...
July 13, 2021
2 min read July 2021 —The Saint Paul Area Association of REALTORS® (SPAAR) promotes homeownership and protects private property rights...
July 9, 2021
Writer: Alejandro Sanchez 2 min read July 2021 — As some iconic business districts across the country struggle with high...
June 24, 2021
Writer: Joshua Andino 2 min read June 2021 — Whether traveling in or out...
June 15, 2021
Writer: Max Crampton-Thomas 2 min read June 2021 — Jon Rufty, the owner and president of Rufty Homes, is ready...
June 15, 2021
Writer: Joshua Andino 2 min read June 2021 — The early phases of the pandemic saw the “COVID-pivot,” where businesses,...
June 9, 2021
Writer: Joey Garrand 4 min read June 2021 — Construction spending in the United States is pushing all-time highs, with...
June 9, 2021
Writer: Max Crampton-Thomas 2 min read June 2021 — Raleigh-Durham and Chapel Hill boast education heavyweights and a competitive edge...
June 3, 2021
Writer: Max Crampton-Thomas 2 min read May 2021 — Michael Ging spoke to Invest: about the challenges facing the construction...
May 18, 2021
Writer: Joshua Andino 2 min read May 2021 — Minneapolis is joining a select few cities that have chosen to...
May 5, 2021
Writer: Joshua Andino 2 min read May 2021 — While Miami and most of Florida’s real estate market is seeing...
May 5, 2021
Writer: Felipe Rivas 2 min read May 2021 — The decade leading up to 2020’s COVID-19 pandemic was a booming...
April 22, 2021
Writer: Joshua Andino 2 min read April 2021 — Alatus, a Minneapolis-based developer, is moving forward with its plans to...
April 20, 2021
Writer: Max Crampton-Thomas 2 min read April 2021 — Deeming construction an essential service during the pandemic was a major...
April 20, 2021
Writer: Felipe Rivas 2 min read April 2021 — As the first quarter of 2021 comes to a close, Palm...
March 26, 2021
Mass transit will continue to change and develop as both a mode of transportation and a means of guiding development....
March 24, 2021
The construction sector is generally decentralized which adds a layer of difficulty to projects as different companies tackle any given...
March 23, 2021
Writer: Joshua Andino 2 min read, March 23, 2021 - With an eye on the city’s affordability mandate, a planned...
March 18, 2021
Writer: Felipe Rivas 2 min read March 2021— The housing boom happening in Sun Belt cities is a bright spot...
February 18, 2021
Writer: Joey Garrand 2 min read February 2021 — The pandemic has brought with it many challenges and uncertainties...
February 18, 2021
The initial pandemic shock to the construction industry was filled with uncertainty and unanswered questions about the future of projects....
February 11, 2021
Writer: Max Crampton-Thomas 2 min read February 2021 —Broward County’s rich diversity in terms of construction projects and pipeline is...
February 11, 2021
Writer: Joey Garrand 2 min read February 2021 — An e-commerce boom has swept the nation. Pre-covid, robust e-commerce growth...
February 10, 2021
Despite the pandemic challenges to the construction sector, business has been good for Pennoni, a multidisciplinary firm headquartered in Philadelphia...
February 9, 2021
Construction activity in the Greater Fort Lauderdale area has picked up since the initial COVID-induced jolt to the sector. Rising...
February 9, 2021
Construction activity in the Greater Fort Lauderdale area has picked up since the initial COVID-induced jolt to the sector. Rising...
January 27, 2021
Writer: Max Crampton-Thomas 2 min read January 2021 — Issues like shortages from providers and longer delivery times, brought about...
January 21, 2021
By: Joey Garrand 2 min read January 2021 — Due to the desire to maintain the city’s architecture and culture,...
January 20, 2021
By: Felipe Rivas 2 min read Jan 2021 — Tampa’s ever-growing population and uncertain economic landscape have created an...
January 11, 2021
by: Max Crampton-Thomas 4 Min read January 2021 — When the COVID-19 pandemic emerged in the United States, it was...
January 8, 2021
by: Max Crampton-Thomas 4 Min read January 2021 — The challenges weighing on most sectors of the economy as a...
December 30, 2020
By: Max Crampton-Thomas 4 Min read December 2020 — Consisting of 34 municipalities all with their own distinct personality, Miami-Dade...
December 16, 2020
By: Sara Warden 2 min read December 2020 — Initially, New York City was perhaps ground zero for the COVID-19...
December 4, 2020
By: Brendan Meagher 2 Min read December 2020 — For those who call Miami-Dade home, the image of construction cranes...
December 2, 2020
By: Felipe Rivas 2 min read September 2020 — Among the major real estate asset classes, the industrial segment has...
November 24, 2020
By: Max Crampton-Thomas 2 min read October 2020 — The rapid exodus of people from office settings into work from...
November 23, 2020
By: Max Crampton-Thomas 2 min read November 2020 — Over the course of 2020, trends within all business sectors have been...
November 12, 2020
By: Max Crampton-Thomas [caption id="attachment_24275" align="alignleft" width="522"] The heart and spine of the neighborhood, Water Street has been transformed into...
October 28, 2020
By: Felipe Rivas FOR IMMEDIATE RELEASE October 27, 2020 Atlanta’s economic resilience in the face of unprecedented challenges to highlight...
October 21, 2020
By: Beatrice Silva 2 min read October 2020 — Progresso Village, nestled in the heart of Fort Lauderdale’s urban core, is...
September 1, 2020
By: Beatrice Silva 2 min read September 2020 — Affordable housing has been a major cause for concern in Florida...
August 28, 2020
By: Max Crampton Thomas Andrew Burnett ...
August 26, 2020
By: Felipe Rivas 2 min read August 2020 — From a census count, to civil unrest, to the health and...
August 14, 2020
By: Felipe Rivas 2 min read August 2020 — Months into the coronavirus landscape, the pandemic continues to accelerate change...
July 21, 2020
By: Beatrice Silva 2 min read July 2020 — It has been almost six months since the World Health Organization...
June 26, 2020
By: Beatrice Silva 2 min read - Real estate development in Fort Lauderdale is getting a jolt of confidence despite...
June 24, 2020
By: Abby Melone, President & CEO, Capital Analytics It’s a truism in today’s hyper-connected world that people go where the...
June 12, 2020
By: Felipe Rivas 2 min read June 2020 — Many of the nation's largest capital operators are increasingly moving headquarters and...
June 10, 2020
By: Felipe Rivas 2 min read June 2020 — Architectural design studio Perkins and Will’s Atlanta office is keeping busy...
June 8, 2020
By: Max Crampton-Thomas 2 min read June 2020 —Global design and engineering firm Stantec likes to think beyond traditional traits to...
June 8, 2020
By: Felipe Rivas Virtually every sector of the economy has been pinched, crushed, or depleted by the initial impact of conducting...
June 8, 2020
By: Felipe Rivas 2 min read June 2020—Shrinking office space has led companies to focus more on the rehabilitation and...
June 5, 2020
By: Felipe Rivas 2 min read June 2020—The new real estate landscape will belong to those companies who find value through...
May 28, 2020
By: Felipe Rivas 2 min read May 2020 — Despite the prevalent challenges of construction costs and a depleted talent pool,...
May 15, 2020
By: Max Crampton-Thomas 2 min read May 2020 — The real estate market will know a before and after COVID-19...
May 14, 2020
By: Felipe Rivas 2 min read May 2020 — The COVID-19 pandemic has upended the national economy since its arrival in...
April 3, 2020
By: Yolanda Rivas 2 min read April 2020 — The strength of the commercial real estate sector relies on the...
April 2, 2020
By: Max Crampton-Thomas 2 min read April 2020 — Prior to the current COVID-19 pandemic that is challenging all sectors...
March 25, 2020
By: Felipe Rivas 2 min read March 2020 — Charlotte’s construction industry has boomed in the last few years as evidenced...
March 9, 2020
By: Sara Warden 2 min read March 2020 — Despite Coronavirus concerns, this year’s MODEX conference is going ahead as scheduled...
February 28, 2020
By: Felipe Rivas 2 min read Feb 2020 — From its strong headquarter relocation culture to its growing population and...
February 21, 2020
By: Felipe Rivas 2 min read February 2020 — Situated west of the Catawba River, the city of Mount Holly in...
February 20, 2020
By: Yolanda Rivas 2 min read February 2020 — The Southern New Jersey region is mainly driven by the healthcare,...
February 19, 2020
By: Yolanda Rivas 2 min read February 2020 — Since 1971, the Orlando Sanford International Airport (SFB) has been fulfilling...
February 13, 2020
By: Felipe Rivas 2 min read February 2020 — About an hour south of Charlotte, in South Carolina, a city...
February 12, 2020
By: Felipe Rivas 2 min read February 2020 — The Sunshine State has been a beacon of light for companies...
February 3, 2020
By: Felipe Rivas 2 min read February 2020 — Charlotte’s growth continues to attract a gamut of industries and talent...
January 27, 2020
By: Felipe Rivas 2 min read January 2020 — Creative product design and an increase in density are part of...
January 27, 2020
By: Felipe Rivas 2 min read January 2020 — In the last few years, Gaston County, located an hour away...
January 27, 2020
By: Yolanda Rivas 2 min read January 2020 — Real estate investors from high-valuation areas like New York, North Jersey, Texas...
January 13, 2020
By: Felipe Rivas 2 min read January 2020 — The Queen City closed out the decade as one of the hottest...
January 8, 2020
By: Max Crampton-Thomas 2 min read January 2020 — The Broward County Convention Center and Hotel is one of the...
December 31, 2019
By: Felipe Rivas 2 min read January 2020 — In the last decade, Charlotte rose from the devastating effects of...
December 30, 2019
By: Yolanda Rivas 2 min read December 2019 — 2019 was a steady year for Philadelphia’s commercial real estate. The market’s...
December 15, 2019
By: Max Crampton-Thomas The future of Tampa Bay is developing in front of our very eyes and there are a...
December 15, 2019
By: Yolanda Rivas One of the main drivers of Philadelphia’s economy is the real estate industry, attractive for its affordable...
December 15, 2019
By: Felipe Rivas The Charlotte Metro Area offers access to capital, a talented and growing workforce, and an affordable cost...
December 6, 2019
By: Felipe Rivas 2 min read December 2019 — Downtowns throughout the nation are popular among millennials for their walkability and...
December 6, 2019
By: Max Crampton-Thomas 4 min read December 2019 — To move a city forward both economically and community-wise, it takes...
November 27, 2019
By: Yolanda Rivas 2 min read November 2019 — Philadelphia-area general contractor Domus was established in 1976. The company has...
November 26, 2019
By: Max Crampton-Thomas 4 min read November 2019 — To be a successful developer in today’s real estate climate, a...
November 21, 2019
By: Max Crampton-Thomas 4 min read November 2019 — Acting as both the CEO of his company City Furniture and...
November 18, 2019
By: Felipe Rivas 2 min read November 2019 — As Charlotte continues to grow, the Department of Transportation is looking at...
November 18, 2019
By: Felipe Rivas 2 min read November 2019 — Hollywood and the movie industry have enjoyed a symbiotic relationship since the...
November 12, 2019
By: Felipe Rivas 2 min read November 2019 — In the information age, knowledge is power. As Charlotte continues to...
November 11, 2019
By: Sara Warden 2 min read November 2019 — As the 2018 federal tax code kicks into effect, capping deductibility of...
November 1, 2019
By Max Crampton-Thomas 2 min read October 2019 — To be successful in the construction industry, a company needs to...
October 24, 2019
Writer: Yolanda Rivas 2 min read October 2019 — Gary Gagnon’s family has been involved in the real estate industry...
October 22, 2019
By Sara Warden 2 min read October 2019 — With 130 new hotel constructions planned across Metro Atlanta, the city now ranks...
October 21, 2019
By Max Crampton-Thomas 2 min read October 2019 — Fort Lauderdale’s real estate development market is in its prime and...
October 17, 2019
By Sara Warden 2 min read October 2019 — As commercial real estate evolves and retail stores move online, Miami’s authorities are...
October 14, 2019
Writer: Sara Warden 2 min read OCTOBER 2019 — Philadelphia’s population growth has lagged other large metro areas in the...
October 10, 2019
Writer: Sara Warden 2 min read October 2019- When the Opportunity Zones (OZs) were created by the federal government in the...
October 4, 2019
Writer: Yolanda Rivas 2 min read October 2019 — Orlando’s population has increased rapidly over the last few years, making...
September 30, 2019
By Max Crampton-Thomas 2 min read September 2019 — When discussing growth in Broward County, the conversation would typically center...
September 19, 2019
Writer: Yolanda Rivas 2 min read SEPTEMBER 2019 — At times when big retailers such as Sears, Charming Charlie’s and...
September 16, 2019
Writer: Sara Warden 2 min read SEPTEMBER 2019 — Miami is an attractive place to live and a business hub, but...
September 11, 2019
Writer: Max Crampton-Thomas 2 min read August 2019 — Growth in the Tampa Bay construction industry has not only benefited...
September 9, 2019
by Yolanda Rivas 2 min read SEPTEMBER 2019 — Over the last few years, Philadelphia’s legal sector has seen a...
September 5, 2019
By Max Crampton-Thomas 4 min read September 2019 — It seems like more cranes are dotting the downtown Fort Lauderdale...
August 7, 2019
By Max Crampton-Thomas 2 min read August 2019 — The amount of construction in a region is almost always an...
July 26, 2019
By Max Crampton-Thomas 2 min read July 2019 — The demand for residential and commercial real estate development in Palm...
July 26, 2019
By Max Crampton-Thomas 2 min read July 2019 — The growth of the Fort Lauderdale area is a true testament...
December 26, 2017
December 2017 — From January 2015 to January 2016, construction costs in Atlanta increased by 3.8 percent, which is higher...
February 20, 2017
Invest: Miami speaks with the Miami-Dade Expressway Authority With five projects being executed and seven others in the pipeline, the...
March 27, 2016
Invest: Miami speaks to Jeffrey Gouveia, President and General Manager, Southeast Region Miami is a progressive market when it comes...
March 17, 2016
MIAMI, March 17, 2016 – As Miami continues to urbanize, its construction industry is growing across all sectors, catching the attention of...
February 27, 2016
Invest: Miami speaks with Jose Luis F. Melo, Carlos F. Melo, and Martin F. Melo, Directors of Melo Group When...
February 27, 2016
How temporary slowdowns do not undermine the strength of Miami’s real estate David Martin President – Terra How are developers...
February 27, 2016
How strong sector fundamentals and sophisticated design buoy Miami’s real estate market in trying times Edgardo Defortuna President & CEO...
February 27, 2016
How Miami’s world-class assets boost the long-term prospects of its real estate market Carlos Rosso President of Condominium Development –...
February 27, 2016
Invest: Miami speaks with Ozgur Atlan, Consul-General of Turkey in Miami The opening of a Turkish consulate in Miami is...
Featured Articles
4 min read February 2023 — Mayor Jacob Frey of Minneapolis spoke with Invest: about the structural changes made in...
Writer: Eleana Teran 2 min read February 2023 - As the educational landscape in the Twin Cities adapts to the...
Writer: Joshua Andino 2 min read February 2023 — As demand continues to recover for Raleigh-Durham International Airport, congestion and...
3 min read February 2023 — Richard Baumert, principal at Millennium Partners Boston, talked with Invest: about their $1.3 billion...