Accounting
Marcum LLP Unveils Comprehensive 2023 Year-End Tax Guide
With the tax landscape continually evolving, Marcum LLP is proud to announce the release of its 2023 Year-End Tax Guide. Marcum’s 2023 Tax Guide features a detailed analysis of the current tax environment and spans more than 135 pages. Marcum’s tax team meticulously constructs its annual guides to help businesses and individuals navigate the latest changes…
Four Tips for Construction Firms to Reduce the Risk of a Tax Audit
With an ever-expanding web of tax regulations being applied to the construction industry, including construction specific provisions such as energy efficiency credits, tax season can be particularly stressful for construction companies. Construction projects often involve complex financial transactions among dozens of entities, making the specter of an audit particularly daunting. These four tips can help…
Weakened Economy and Higher Borrowing Costs Dog Construction Industry, Reports Marcum Survey
The Marcum Commercial Construction Index for the second quarter of 2022 reports that the construction industry continues to face rising costs and shortages of both labor and materials, but now also must contend with a weakening economy and elevated borrowing costs. Notably, the residential sector has weakened significantly, while the outlook remains dicey for the nonresidential sector….
Diversity & Inclusion
Business Leaders Continue to Support DEI Initiatives Despite Year of Attacks and Criticism
In the second annual Inclusion Barometer, released today by executive search firm Bridge Partners, business leaders show a continued commitment to diversity, equity, and inclusion. Despite a year filled with attacks and criticisms of DEI programs from some well-known business and civic leaders including Bill Ackman, Elon Musk, and Senator Tom Cotton, 72% of C-Suite and Human Resources leaders…
NAIOP DEI Strategic Pillars: New Committee on DEI
2023 NAIOP Chair Kim Snyder and the NAIOP Board of Directors are proud to announce the adoption of its Diversity Equity and Inclusion (DEI) policy statement by NAIOP, the Commercial Real Estate Development Association. During the board meeting on October 17, held as part of NAIOP’s CRE.Converge conference in Seattle, the board unanimously approved the…
ICSC and Partner Associations Form the Commercial Real Estate Diverse Supplier Consortium
The International Council of Shopping Centers (ICSC) announced their participation in an industry-wide alliance to foster supplier diversity in the real estate industry. The Commercial Real Estate Diverse Supplier (CREDS) Consortium, made up of seven real estate trade associations, aims to meet growing interest from companies in real estate to further diversify their supply chains while…
Finance, Bonding, & Insurance
Vantage Risk Introduces U.S. Large Property Insurance
Vantage Group Holdings Ltd. (Vantage) launched today its U.S. Large Property offering through its U.S. insurance subsidiaries, further extending the company’s insurance capabilities for its brokers and clients. Vantage’s new U.S. Large Property team builds on the group’s existing property expertise and sustained portfolio growth. Designed to serve a broad range of middle market and corporate…
Streamline Your Construction Lien Management with Bectran and NCS Credit Integration
Bectran, Inc., the industry leader in credit, collections, and accounts receivable management technology has announced a new collaboration with NCS Credit, a renowned provider of Mechanic’s Lien, UCC, and collections solutions. This partnership unveils an innovative Mechanic’s Lien integration solution tailored specifically for construction professionals, providing users with a streamlined approach to safeguard their projects and efficiently…
Sharp Increase in Economic Confidence across North America
The ACCA and IMA® (Institute of Management Accountants) Global Economic Conditions Survey (GECS) shows confidence rebounded sharply in North America in Q4 in 2023, after a large fall in Q3. Confidence declined among accountants globally for the third consecutive quarter, consistent with a further moderation in global growth. The survey doesn’t suggest that a major downturn is on the…
Government Affairs
ABC: USDA Abandoning Illegal Blacklisting Provisions Is a Win for the Rule of Law and Federal Contractor Members
In response to Associated Builders and Contractors’ and federal contractor opposition, the U.S. Department of Agriculture scrapped controversial blacklisting provisions targeting federal contractors in a proposed rule published in the Federal Register today specific to the USDA’s procurement policies. “The USDA’s decision to drop unnecessary and duplicative blacklisting provisions harming federal contractors is a victory for the rule…
ABC Endorses Donald Trump for President
Associated Builders and Contractors today announced its endorsement of former President Donald J. Trump for president. “After almost four years of President Joe Biden and Vice President Kamala Harris’ anti-competitive, inflationary and divisive policies undermining taxpayer investments in America’s infrastructure, ABC is looking forward to working with a president who is willing to welcome all…
In a Victory for ABC, NLRB Withdraws Appeal in Joint Employer Case
Today, the National Labor Relations Board moved to withdraw its appeal of the U.S. District Court for the Eastern District of Texas’ decision to vacate the 2023 Joint Employer final rule, which means the court’s favorable decision will become final. The Board had appealed the decision on May 7. On March 8, the district court vacated…
Human Resources
PAS Contractor Compensation Quarterly – The Marcum Edition: Second Quarter 2024
The Contractor Compensation Quarterly (CCQ) is especially designed for the busy construction executive that needs to keep abreast of competitive compensation and benefit levels within the industry. Based on our survey data, contractors are projecting 2024 construction staff wages to increase an average of 4.38% (excludes 0% projections), reported by 350 companies in this 42nd edition…
ABC Responds to Biden’s Executive Actions on Immigration
Associated Builders and Contractors today released the following statement in response to President Joe Biden’s executive actions on immigration. “The U.S. construction industry faces a workforce shortage of more than half a million, and bipartisan solutions are imperative to address our legal immigration workforce needs,” said Kristen Swearingen, ABC vice president of legislative & political affairs. “Today’s announcement…
HR and Organizational Leaders Must Collaborate to Build an AI Strategy That Enables Success and Mitigates Risk, Says Global HR Advisory Firm McLean & Company
The surge of artificial intelligence (AI) advancement has left many organizations scrambling to adopt the technology to take advantage of the opportunities it promises before considering the necessary safeguards, skills, and capacities required for AI implementation. According to new research from global HR research and advisory firm McLean & Company, the HR division of Info-Tech Research…
Leadership
American Management Association Releases New Research on the Importance of Management Styles
Effective management is always crucial to an organization’s success—but do managers use the “right” style at the right time, and does it get the desired results from their teams? American Management Association (AMA), a world leader in professional development, surveyed over 1,100 U.S. knowledge workers to better understand the role management styles play in performance…
The Business Impact of Promotions and Measuring Employee Motivation and Commitment: New Findings from the ADP Research Institute
The ADP Research Institute® (ADPRI) reveals the business impact of promotions and presents a new way to measure worker motivation and commitment in Today at Work, a fresh and comprehensive data-driven resource for business leaders and other decision-makers. In the September issue of Today at Work – “The Hidden Truth About Promotions” – ADPRI shows how promotions, under certain conditions,…
Cultivating a Sense of Mindfulness
As a construction leader, you are likely juggling a multitude of responsibilities and demands on a daily basis. Thinking about projects, estimates, safety, employee retention, supply chain issues and payroll can be the source of significant stress. Dealing with a multitude of issues and challenges can be anxiety provoking. However, practicing mindfulness can help you…
Legal
Five Poyner Spruill Construction Practice Attorneys Receive 2025 Best Lawyers in America Recognition
Poyner Spruill LLP is pleased to announce 64 firm attorneys have been selected by their peers for inclusion in the 2025 Edition of The Best Lawyers® in America and Best Lawyers: Ones to Watch® in America in nearly 50 practice areas. Five Poyner Spruill attorneys were recognized on the Best Lawyers® in America list for…
Poyner Spruill Honors Late Colleague with Second Annual Service Week
Poyner Spruill LLP recently honored the life and legacy of late colleague Cheslie Kryst during their second annual Service Week. Kryst worked as an attorney then as the firm’s Diversity Advisor. She was passionate about volunteering at nonprofits and advocating for those in underserved communities. Kryst had a life-long battle with mental illness and died…
Contech360, LLC to Join FORVIS, LLP Construction Technology Practice
Contech360, LLC, a leading provider of construction technology solutions, is pleased to announce the signing of an asset acquisition agreement with FORVIS, LLP, a leading public accounting and consulting firm. This strategic acquisition marks a significant milestone for both organizations, solidifying their commitment to innovation and growth in the construction technology sector and is expected to close…
Management
American Management Association Releases New Research on the Importance of Management Styles
Effective management is always crucial to an organization’s success—but do managers use the “right” style at the right time, and does it get the desired results from their teams? American Management Association (AMA), a world leader in professional development, surveyed over 1,100 U.S. knowledge workers to better understand the role management styles play in performance…
Confidence Among Small and Midsize Business CEOs Dips in Q2 2024
Small and midsize business (SMB) CEO confidence decreased slightly to 83.3 in Q2 2024, according to the latest CEO Confidence Index released by CEO coaching and peer advisory organization Vistage. The dip in CEO confidence occurred after four consecutive quarters of gains, driven by a decrease in economic optimism. Nearly two-thirds (64%) of CEOs report higher…
CEO Confidence and Consumer Demands on the Rise: Marcum-Hofstra CEO Survey
Middle-market CEOs are feeling better about the current business climate and less fearful the economy will fall into recession, according to the latest CEO survey from Marcum LLP and Hofstra University’s Frank G. Zarb School of Business. Highlights of the survey, conducted earlier this month, also reveal that about a quarter of companies have begun to use artificial…
Marketing & BD
2024 State of Local SEO for Contractors Report
A groundbreaking study analyzing 9,782 contractor Google Business Profiles across the United States has revealed critical insights into the online presence and customer satisfaction of local contractors. The 2024 State of Local SEO for Contractors report highlights the top and bottom-performing locations, key facts, and essential recommendations for improvement. Top-Performing Locations: Bottom-Performing Locations: Key Findings: Top…
CarolinaPower Welcomes Ashley Michie as Marketing Manager
CarolinaPower, a leading employee-owned, regional electrical contractor with four offices in South Carolina, has hired Ashley Michie as Marketing Manager. Based in the firm’s Columbia office, Michie will lead company-wide marketing efforts, including brand management, marketing communications, social media, and special events. Michie has nearly 15 years of business and marketing management experience in the…
What Makes a Website Great? A Comprehensive Guide to Success
Your website is often the first point of contact between your organization and your audience. In today’s digital age, it’s crucial to view your website as an asset that provides solutions and leaves a lasting impression. A great website goes beyond aesthetics; it encompasses a clear purpose, user-centric design, engaging content, and continuous improvements. I…
Operations Management
Chemistry for a Successful Project Team
I recently had the opportunity to serve as a judge to evaluate entries for the 2022 ABC Carolinas Excellence in Construction (EIC) Awards competition. The mechanical contracting firm from which I recently retired had been successful in winning multiple awards from ABCC over the years; however, judging was a new experience for me. Being the “old…
Nick Skrobola Promoted to Project Manager at McCrory Construction
McCrory Construction announces the promotion of Nick Skrobola to Project Manager. Skrobola has a decade of construction industry experience and is currently working on a 150,000-square-foot warehouse and machine/maintenance shop in Anderson, S.C. “Nick has a can-do attitude that has served McCrory well on some of our most complex projects. He has demonstrated leadership qualities…
McCrory Construction Promotes Seth Dunnagan to Project Manager
Columbia, South Carolina — McCrory Construction announces the promotion of Seth Dunnagan to Project Manager. Over the past three years, Dunnagan has served in various project management roles for the firm’s Retail Division, managing several Walmart projects around the Carolinas, Georgia and Tennessee. A graduate of Clemson University with a degree in Environmental Engineering, he…
Risk Management
Mental Health & Wellness: Key Components of Safety for Construction Industry
A growing topic of discussion in the industries we serve is mental health. Although safety has long been a core value of the construction industry, wellness is now gaining traction as a much-needed area of focus. Its importance can’t be understated. Nearly 13 percent of workplace injuries are attributed to fatigue, and more than 40…
What You Need to Know About OSHA’s New Initiatives for the Construction Industry
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has announced new enforcement initiatives for 2023 which will have a direct impact on the construction industry. These new initiatives are primarily directed at preventing trenching and excavation fatalities, and heat-related injuries and illnesses. State Plan states, including North Carolina, are required to adopt…
Owens Insurance Agency Celebrates 70 Years in Business
Greer, South Carolina – As 2022 comes to a close, Owens Insurance Agency, an independent insurance agency serving the construction industry in the Upstate of South Carolina and beyond, is wrapping up a year-long anniversary celebration marking 70 years in business. Owens is now under third-generation ownership. Owens Insurance first opened its doors in downtown…
Strategy
The Wooten Company Opens New Winston-Salem Regional Office
The Wooten Company, an engineering consulting firm celebrating its 80th anniversary this year, announced on Monday that it has opened a new Regional Office in the Old Salem Historic District of downtown Winston-Salem, NC. Overseen by Regional Manager John Grey, PE, the office was previously located in Asheboro, NC, from where it served the towns,…
Integrated Delivery – Why Is It?
Integrated delivery is a delivery method that embraced 360 degree collaboration between all the stakeholders on a project; including designers, consultants, general contractor, subcontractor, vendors, and yes the owner. Design-build (DB) and Integrated Project Delivery (IPD) are two examples of integrated delivery. There are numerous differences between the various contract forms of both DB and…
Should You Get Out of the Contracting Business?
That may seem like a strange resolution for a contractor. However, it might be the best advice you ever receive. How many people do you think wake up in the morning and say to themselves, “I can’t wait to hire a contractor today?” If you do service work, it’s even worse. No one wakes up…
More Business
NAOIP Industrial Space Demand Forecast: Rate of Growth Slows: Demand Remains Strong
The net absorption of industrial real estate – the amount of space occupied minus space vacated over a given period – has slowed from record levels in the wake of the pandemic, but the sector remains strong, according to the most recent NAIOP Industrial Space Demand Forecast. Total U.S. industrial net absorption in the first half…
New Survey Shows How Nation’s Failure to Invest in Construction Education & Training Programs Makes It Hard for Firms to Build
94 Percent of Construction Firms Report Having a Hard Time Finding Workers to Hire, Undermining Efforts to Build Infrastructure & Other Projects As Industry Calls for Better Federal Workforce Policies The nation’s failure to invest in construction workforce education and training programs is having a real, measurable impact on the country’s ability to build infrastructure…
ABC Joins White House Roundtable on Addiction Recovery-Ready Workplaces
Associated Builders and Contractors today participated in a White House-sponsored roundtable discussion, “Recovery in the Workplace: Investing to Build the Workforce of Tomorrow,” which convened more than a dozen leading corporations, business groups and government leaders at the White House in Washington, D.C., to highlight the importance of recovery-ready and recovery-friendly workplaces and share best…
Carolinas Rank High in Area Development’s Annual Top States for Doing Business
Southern states continue to lead the way in creating favorable business environments, with Georgia once again taking the top spot in Area Development’s annual rankings of the Top States for Doing Business. For the eleventh consecutive year, Georgia has demonstrated excellence in key areas like infrastructure, workforce development, and business incentives. In this year’s Area…
