DeWalt announced the findings of its recent research study, which identifies job site security (and the resulting loss of productivity) as the primary concern among professional contractors and other construction end users. These findings are supported by existing industry research and expose an estimated $1 billion (this excludes amounts that were not reported to insurance companies due to lofty deductibles) in annual losses, stemming from the lack of job site security.

The study reported that few job sites are protected by security systems. Those that have protection usually adopt residential systems, which are not designed to meet specific job site needs, and often fall short in protecting key assets such as job site office trailers, material goods, tools, and heavy equipment or machinery. This lapse can lead to significant financial loss and productivity losses, ultimately increasing costs for consumers, especially those purchasing new homes. The National Association of Home Builders recently reported that residential job site losses account for an annual 1- to 2-percent increase in the cost of building a new home.

The financial impact of job site theft and vandalism affects the "bottom line" of both commercial and residential contractors. Many contractors who purchase their own tools and equipment see the loss coming directly out of their own pockets.

In gathering its research, DeWalt interviewed more than 200 end users on sites across the country, as well as worked with an independent research company, which polled more than 1,500 construction end users and buyers. In addition to identifying security and the resulting loss of productivity as the major concern, the study also identified the following key statistics, further illustrating today's jobsite security problem:

• Ninety seven percent of construction industry professionals surveyed (end users, buyers, project managers, etc.) are concerned about job site security;

• Tool theft, material theft, and truck/van protection are the top three types of job site losses;

• For more than 60 percent of construction end users and job site security system purchasers surveyed, tool theft is the number one concern and has the greatest financial and economic impact;

• Replacement cost, lost time and decreased personal productivity are the top three reasons for site security concerns;

• More than 50 percent of those surveyed have had equipment stolen in the past 12 months;

• More than 75 percent of job site theft occurs at night and on weekends;

• Professional construction theft rings are a major concern, as they are re-selling tools or tool and machinery parts to unsuspecting contractors.

The National Insurance Crime Bureau and Associated General Contractors of America both reported last year that more than $1 billion is lost annually due to theft of construction equipment and tools.