Accounting
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….
Aprio to Welcome North Carolina-based firm Ladd Robbins
Today Aprio, LLP, a top 35 business advisory and CPA firm, announced that North Carolina-based Ladd Robbins CPAs and Consultants (Ladd Robbins) will join Aprio on October 1, 2022. For more than 20 years Ladd Robbins has served clients in 20+ states across the U.S., focusing on healthcare practices including dental and optometry. As part of Aprio, Ladd…
Introducing FORVIS: New Name for Planned Merger of BKD and DHG Reflects the Firm’s Forward Vision
CHARLOTTE, N.C. and SPRINGFIELD, Mo. – The newest entrant among the nation’s Top-10 professional services firms will be called FORVIS. The name was jointly announced in April by the leaders of BKD and DHG. The two firms agreed to a merger of equals in February, with an effective date of June 1, to create an enhanced, Top-10,…
Banking
FMI Capital Advisors Releases 2022 Construction Materials Outlook
FMI Capital Advisors, a leading investment banking firm for companies that work and invest in the built environment, released its 2022 Construction Materials (CM) Outlook report entitled, “Seizing the Opportunities Ahead.” The report provides a brief recap of last year’s M&A activity and summarizes key drivers and challenges for the CM industry in 2022 and…
BB&T Reinforces Commitment to Eastern North Carolina
BB&T Corporation (NYSE : BBT ) announced it will build an approximately 95,000-square-foot office facility on Pine Street in downtown Wilson, N.C. The new $35 million building will accommodate 650 BB&T associates who are currently working in the twin buildings at 223 West Nash St. or elsewhere in Wilson. BB&T expects to begin site work on…
Infintech Is CFMA’s Newest Affinity Program Partner
The Construction Financial Management Association (CFMA) is proud to introduce its newest Affinity Program Partner, Infintech. Ranked as one of Inc. Magazine’s Fastest Growing Companies, Infintech specializes in business-to-business and construction payment processing. Offering cutting-edge technologies and equipment, at the best prices, Infintech clients can then offer the convenient, secure payment options their customers need….
Diversity & Inclusion
Results of New Survey Recommend Steps to Improve Diversity, Equity and Inclusion in Design and Construction Industry
Today, Dodge Construction Network and the U.S. General Services Administration (GSA) released the findings of a new industry survey in that shows more work is needed among architecture firms and construction companies to improve diversity, equity and inclusion (DEI) in their industry. The Diversity, Equity and Inclusion SmartMarket report also details the organizational and business benefits of doing so. The Request…
Equity in Architectural Education Guides Now Available
The American Institute of Architects (AIA) and the Association of Collegiate Schools of Architecture (ACSA) have published a supplementary edition of the Guides for Equitable Practice, focusing on schools and institutions. Equity in Architectural Education provides actions and prompts intended to inspire discussions about creating welcoming environments to attract and retain those currently underrepresented in academia and in…
CP Capital Launches ‘Project Destined’ Partnership
CP Capital, a highly disciplined U.S. real estate manager specializing in multifamily investments, today announced its new partnership with Project Destined, a social impact education and investment platform that specializes in training underserved youth. Beginning in October, CP Capital will welcome fourteen students of diverse backgrounds to provide them with hands-on, one-on-one mentorship and the…
Finance / Bonding
FMI Corporation Acquires Investment Bank SLATE Partners
Co-founded by Aaron Bachik and Jason Munoz in 2014, SLATE Partners provides sell-side and buy-side mergers and acquisitions (M&A) advisory services to companies in the building materials and building services industries nationwide. The firm’s clients include family and entrepreneur-owned businesses as well as private equity-backed companies. The acquisition of SLATE Partners brings significant complementary talent…
BuildersRisk.Net Insurance Succeeds Sells 2554 Policies During 2021
The construction segment has faced many challenges during the COVID-19 pandemic, from supply chain disruptions and material shortages to social distancing requirements and sick workers. After a turbulent market in 2020, certain lines of business are experiencing some stabilization. However, 2021 was a banner year for the construction industry, and until today, consumer appetite for new…
Built Helps Construction Lenders Manage Risk with Project Pro
Built Technologies (Built), the fastest growing construction finance platform in the U.S., today announced Project Pro, the first-of-its-kind contractor management and project monitoring solution for lenders. Construction lenders around the world are limited in their ability to monitor and manage the risks of their construction portfolio. They often lack specialized tools built for construction financing that…
Government Affairs
ABC Opposes the Biden Administration’s New Independent Contractor Proposed Rule
Associated Builders and Contractors today responded to the U.S. Department of Labor’s announcement of a proposed rule to rescind and replace a commonsense, ABC-supported final regulation on independent contractors. “ABC is deeply disappointed that the Biden DOL is moving forward with a proposed rule that will disrupt legitimate independent contractors, which are an essential component of the…
CAGC Delegation Lobbies Carolinas Congressional Delegation for Construction Support at NCLC
Last week CAGC leaders, including members and staff, met in Washington, D.C. with Congressional Delegations from the Carolinas to urge their support of infrastructure and Career Technical Education (CTE) funding, and to oppose mandatory Project Labor Agreements pushed by unions, burdensome Buy America provisions that will create unnecessary red tape and proposed heat standards that…
President Biden’s Inflationary PLA Schemes Hurt Taxpayers and Construction Job Creators
Associated Builders and Contractors today released the following statement in response to the publication of a proposed rule, Federal Acquisition Regulation: Use of Project Labor Agreements for Federal Construction Projects, implementing President Biden’s Executive Order 14063, which requires federal construction contracts of $35 million or more to be subjected to controversial project labor agreements. “The Biden administration continues…
Human Resources
Keep Your Employee; Give them a Path
That’s SkillsetGroup Founder and CEO Clint Armstrong’s vision, and the vision for the fast-growing staffing and consulting company. “Inspiring employees creates innovation, but how do you go about inspiring people?” Armstrong told Inc. Magazine and fellow executives this week in a roundtable webinar. “You have to empower people, you have to give them something to believe in, but most…
Construction Job Openings Decreased By 52,000 in October, Says ABC
The construction industry had 371,000 job openings in October, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 52,000 last…
ABC: State Construction Unemployment Is Down in 42 States From a Year Ago
The not seasonally adjusted national construction unemployment rate dropped 1.1% in September 2022 from a year ago, down from 4.5% to 3.4%, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors. Forty-two states had lower unemployment rates over the same period, Arkansas and Wisconsin were unchanged and…
Leadership
Study Shows What Soccer Can Teach Managers About Hiring Top Talent
With the 2022 FIFA World Cup tournament underway as the world’s most widely viewed and followed sporting event, it’s also an opportunity for players to impress scouts from major clubs with holes in their rosters. Relatedly, recent research co-authored by management professor Gilad Chen at the University of Maryland’s Robert H. Smith School of Business reveals how and when teams can make…
CAGC Young Leaders Conference Draws Record Crowd
Nearly 200 of the Carolinas top construction industry young professionals gathered for the Carolinas AGC’s seventh annual Young Leader Conference November 10 – 11, at the Francis Marion Hotel in Charleston, South Carolina. This year’s event featured educational sessions, roundtable and panel discussions, two keynote addresses, leadership skill building, and several networking opportunities. This year’s keynote speakers, Thomas…
ING Tour Stops with “Antarctic Mike” Pierce
GroundBreak Carolinas is pleased to promote a series of exciting speaking events sponsored by the Industrial Networking Group (ING). Speaker, author and coach “Antarctic Mike” Pierce will be visiting the Carolinas and Georgia to share his inspirational story. Antarctic Mike brings very high energy to his programs and knows how to tell stories that will…
Legal
Elmore Goldsmith Kelley & deHoll Attorneys Recognized in The Best Lawyers in America® for 2022
The law firm of Elmore Goldsmith Kelley & deHoll is pleased to announce that the firm’s attorneys have been selected by their peers for inclusion in The Best Lawyers in America® for 2022: L. Franklin “Frank” Elmore: Construction Law and Litigation–Construction Mason A. “Andy” Goldsmith, Jr.: Construction Law and Litigation–Construction Bryan P. Kelley: Construction Law…
Elmore Goldsmith Kelley & deHoll, P.A. Recognized as South Carolina ‘Super Lawyers’
South Carolina ‘Super Lawyers’ Five attorneys from Elmore Goldsmith Kelley & deHoll have been named by South Carolina Super Lawyers Magazine for 2021. Super Lawyers recognizes attorneys who have distinguished themselves in their legal practice and less than five percent of lawyers in each state are selected to this exclusive list. Attorneys recognized as Super…
Elmore Goldsmith Kelley & deHoll, P.A. and Attorneys Recognized by U.S. News- Best Lawyers® 2021
U.S. News – Best Lawyers® released the 2021 “Best Law Firms” rankings and Elmore Goldsmith Kelley & deHoll, P.A. has been recognized in four areas. For the Greenville metropolitan area, the firm has received tier one rankings for Construction Law, Litigation–Construction, Litigation–Securities, and Commercial Litigation. Firms included in this eleventh edition are recognized for professional…
Management
Improving Organizational Self-Image
Improving this will not only help you attract and keep good people, but it will also bring in new clients. Everyone keeps talking about how difficult it is to find and keep truly outstanding people in their firms. There’s a little secret on how to do that – one that I have never seen anyone write…
The Conference Board Leading Economic Index® (LEI) for the U.S. Fell Further in July
The Conference Board Leading Economic Index® (LEI) for the U.S. decreased by 0.4 percent in July 2022 to 116.6 (2016=100), after declining by 0.7 percent in June. The LEI was down by 1.6 percent over the six-month period from January to July 2022, a reversal from its 1.6 percent growth over the previous six months. “The US LEI declined for a…
2022 Starts with Strong Job Growth
Today’s jobs report showed a better-than-expected increase in the number of jobs in January. Disruptions related to the Omicron variant do not seem to have derailed continued progress in the labor market. However, headwinds for employers persist, as labor shortages are still severe and economic activity remains healthy. Nonfarm payroll employment increased by 467,000 in…
Marketing
Gen Z: Breaking the Marketing Mold
Gen Z – the demographic group succeeding Millennials and preceding Generation Alpha – is the first generation to grow up with the internet easily at their fingertips and social media as a strong influence in day-to-day activities. Members of Gen Z, comprised of those born between the mid to late 1990s and 2010, have a…
Digital Marketing for Plumbers by Online Advantages to Attend the PHCCCONNECT 2022 Conference and Expo October 5-6, 2022
Matt Maglodi, Owner and Founder of Digital Marketing for Plumbers by Online Advantages, is pleased to announce that he will attend the Plumbing-Heating-Cooling Contractors’ Association’s PHCCCONNECT 2022 Conference and Expo. To learn more about the conference and expo, which will take place from Wednesday, October 5-Friday, October 7 at the Westin Charlotte Downtown and Charlotte Convention Center in NC, please visit https://digital-marketing-for-plumbers.onlineadvantages.net/phccconnect2022-expo-dump-your-digital-marketing-company-at-booth-1120/….
Developing Your 2023 Marketing Plan
Successful construction firms don’t view marketing as an expense, but rather a strategic approach to business. Each year we have the opportunity to refresh how we approach our business, marketplace and clients. A marketing plan is about strategic choices: which markets to target, what services to offer, how to differentiate, how to communicate and how to win….
Operations Management
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…
Civil Contractors Remain Optimistic About Work Volumes Leading into 2022, but Express Growing Concerns Around Skilled Worker Shortage to Handle It
The latest issue of the Civil Quarterly (TCQ) from Dodge Data & Analytics reveals that most civil contractors are optimistic about the volume of work they expect in 2021 and 2022, and they anticipate both revenue and profit margin increases for their companies as a result. However, that optimism is overshadowed by increasing concerns around skilled worker shortages, including an…
Risk Management
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…
Sandra Johnson Promoted to Director of Operations for Owens Insurance Agency, Specialists in Serving Contractors
Owens Insurance Agency, an independent insurance agency with a 70-year presence in the Upstate, has promoted Sandra Johnson, CISR, INS, SM, to Director of Operations. Johnson serves as the point of contact for the agency’s carriers and is responsible for overseeing the agency’s administrative functions. She is based in Owens Insurance’s home office in Greer,…
Chad Hannon Promoted to Market President for Owens Insurance Agency, Specialists in Serving Contractors
Owens Insurance Agency, an independent insurance agency with a 70-year presence in the Upstate region of South Carolina, has promoted Chad Hannon, CLCS, to Market President for the agency’s home office in Greer, South Carolina. In this role, Hannon will focus on continuing to grow the commercial side of the business, which accounts for about…
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
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…
Graycliff Capital Partners’ Caitlin Meek-Steelman Promoted to Chief Executive Officer
Caitlin Meek-Steelman has been promoted to Chief Executive Officer (CEO) of Graycliff Capital Partners, LLC (Graycliff Capital), a leading developer/owner in the multi-family sector based in downtown Greenville, South Carolina. Since its founding in 2010, Graycliff has acquired and developed 15,498 units, executing approximately $3.8 billion in transactions. Meek-Steelman joined Graycliff in 2015 as the…
Study Shows What Soccer Can Teach Managers About Hiring Top Talent
With the 2022 FIFA World Cup tournament underway as the world’s most widely viewed and followed sporting event, it’s also an opportunity for players to impress scouts from major clubs with holes in their rosters. Relatedly, recent research co-authored by management professor Gilad Chen at the University of Maryland’s Robert H. Smith School of Business reveals how and when teams can make…
Keep Your Employee; Give them a Path
That’s SkillsetGroup Founder and CEO Clint Armstrong’s vision, and the vision for the fast-growing staffing and consulting company. “Inspiring employees creates innovation, but how do you go about inspiring people?” Armstrong told Inc. Magazine and fellow executives this week in a roundtable webinar. “You have to empower people, you have to give them something to believe in, but most…
