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
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…
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…
Finance, Bonding, & Insurance
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…
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…
Government Affairs
ABC Survey: Biden’s Proposed Apprenticeship Rule Will Strongly Discourage Construction Apprenticeship Program Participation
According to the results of a new survey of ABC contractor members and chapters published today, the U.S. Department of Labor’s controversial, 180,000-plus word proposed rule overhauling regulations related to government-registered apprenticeship programs—or GRAPs—will discourage apprentices, contractors and ABC chapter apprenticeship program providers from participating in the government-registered apprenticeship system. “Initial feedback on controversial changes to apprenticeship regulations has been…
AIA Calls on Congress to Repeal the Research and Development Tax Amortization
The American Institute of Architects (AIA) calls on Congress to work in a bipartisan manner to expeditiously pass a funding deal to avoid a government shutdown. Congress should also repeal the harmful Research and Development Tax amortization provision and make it retroactive to cover tax year 2022 to ensure that the tax code continues to…
ABC: NLRB Joint Employer Final Rule Will Harm Small Businesses
Associated Builders and Contractors today released the following statement on the National Labor Relations Board’s joint employer final rule. The final rule rescinds and replaces the ABC-supported 2020 NLRB joint employer final rule, which provided clear criteria for companies to apply when determining their joint employer status. “Unfortunately, the Biden NLRB decided to dramatically expand joint-employer liability under the National Labor…
Human Resources
Women Talk Construction: Mentorship
Episode 93: ‘Mentorship’ with Angela, Christi, and Alex The Women Talk Construction team discusses a topic that’s near and dear to our hearts and is one of the main reasons that we do what we do in cooperation with our sister company (Women Confidence Builders) and that is Mentorship. Christi and Angela bring on Alex…
Why the Opioid Crisis Matters to Contractors (and your families) in the Carolinas
The opioid crisis has plagued the nation since the late 1990s. Overdose deaths have been rising year after year. Nationally, the Centers for Disease Control and Prevention (CDC) reported 107,699 overdose deaths in 2022 (KFF). Seventy five percent of all overdose deaths nationally are attributable to opioids. The figures are higher in both North Carolina…
Best Practices for Mentoring Programs in Construction
Investing in employees and giving them full opportunities to grow improves hiring and retention rates — and improves critical business results. Mentoring plays a crucial role in the professional growth of employees across various positions within the construction sector. Fundamentally, mentoring embodies a dynamic of mutual learning. The relationship between a mentor and their mentee…
Leadership
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…
Embracing a Rapidly Changing Industry
A convergence of events has disrupted the construction industry. Company and industry leaders are responsible for decisions made in a world that is volatile, uncertain, complex and ambiguous (VUCA). VUCA describes the situation of constant, unpredictable change that is indicative of the environment in construction today. The term was first used by leadership experts in…
Legal
From Blueprints to Briefs: Poyner Spruill Attorneys Utilize Their Construction Backgrounds in Their Law Practices
Wouldn’t it be nice to talk to an attorney who understands what it’s like to work in construction? That’s exactly what you get with Poyner Spruill LLP attorneys Ben Buskirk, PE, and Jamie Blue, PE. They both started their careers in the construction industry before transitioning to practicing law. Ben and Jamie are integral members…
New OSHA Emphasis Program Targeting Warehouses and Distribution Centers
OSHA has launched a three-year National Emphasis Program targeting warehouses and distribution centers. Beginning this fiscal year this Program will extend through the middle of 2026. National Emphasis Programs are temporary programs focusing OSHA resources on specific hazards and industries engaged in high hazard operations. Under this new Program, OSHA will conduct comprehensive safety inspections…
Parker Poe Announces New Partners for 2024
Parker Poe Adams & Bernstein LLP is pleased to announce the election of eight new partners for 2024. John Amabile, Beth Morris, and Reagan Sauls in Atlanta; Tiffany Burba, Catherine Clodfelter, and Laura Goode in Raleigh; Robert Osborne in Charleston; and Megan Dunham in Charlotte were voted into the firm’s partnership. A seasoned commercial litigator, John…
Management
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…
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…
Marketing & BD
The Superior Value of Paid Content Partnerships Over Event Sponsorships in B2B Marketing
In the rapidly evolving landscape of business-to-business (B2B) marketing, construction executives are constantly faced with choices on how to allocate their marketing budgets to maximize impact and ROI. While traditional avenues such as one-time event sponsorships have been popular, the digital age beckons a shift towards more sustainable, impactful, and value-driven marketing strategies. Among these,…
Construction Marketing Trends for 2024
As we move into 2024, the construction industry is in the midst of a pivotal transformation, necessitating an adaptation to new and emerging marketing trends. For construction businesses focused on achieving growth in this competitive sector, it is essential to both understand and capitalize on these evolving trends. Leveraging the trends and latest advancements in…
The Construction Media Alliance Announces Winners of 2023 Editorial and Marketing Awards
The Construction Media Alliance has recognized the winners of the 2023 Editorial and Marketing Awards — a peer-voted awards platform meant to highlight excellence in construction industry journalism, communications, content and storytelling. Categories range from traditional editorial platforms such as columns and series, to more new media platforms such as social media and video production….
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
Building Success: Strategic Planning for Construction Industry Leaders
The Essential Guide for Developing, Implementing, and Managing a Strategic Plan Construction strategy and marketing expert and author Brian Gallagher MBA, CPSM unveiled the first edition of his new book Building Success: Strategic Planning for Construction Industry Leaders. The book focuses on strategy development for architecture, engineering, and construction firms and is a must-have for…
Boone Hall Plantation’s Historic Cotton Gin Renovation and Addition Singled Out by Preservation Society of Charleston
On Thursday, February 29, 2024, the Preservation Society of Charleston (PSC) hosted the 70th Carolopolis Awards, an awards program created in 1953 to recognize outstanding achievement in historic preservation. These award-winning projects are the result of extraordinary private and public efforts to maintain the historic character and authenticity of Charleston and the Lowcountry. This year,…
Annual NC Construction Conference in Raleigh Features Outlook from AGCA Chief Economist
While contractors are optimistic about the future and an economic recovery should continue, the construction industry should expect long-term challenges in finding workers. “Construction employment has stalled in North Carolina due to the labor shortage. Nationally, the number of construction job openings is exceeding new hires and contractors are paying a wage premium for workers,”…
CIRT Sentiment Index: First Quarter 2024
The Construction Industry Round Table (CIRT) and FMI recently published the CIRT Sentiment Index for the First Quarter of 2024. CIRT members recorded much stronger optimism across index components, including sentiment toward the U.S. economy, the economy where members operate, members’ construction businesses and the nonresidential sector. The overall index score rose to 64.9 from…