Contractors’ Bond Capacity Can Improve by Working With a CPA

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As a contracting business grows in capacity to handle projects, an important question that arises is how to also increase your capacity to obtain larger amounts on your bonds required for construction projects. Without increasing your bond line, you are limited in the amount of work you can undertake which in turn is necessary to grow your business further. Read …

Opinion: Multifamily, Commercial Construction Costs to Rise With Tariffs

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A Walton College economist Mervin Jebaraj doesn’t see much upside to tariffs that President Donald Trump says he plans to impose. On Thursday (March 8), Trump pulled the trigger on tariffs for steel and aluminum imports. The President’s order places a 25% tariff on steel imports and a 10% tariff on aluminum imports, and created exemptions for imports from Canada …

Experts: Ontario Law May Grow Surety Market in Canada’s Public-Private Sector

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Legislation passed late last year in Ontario that requires surety bonds for municipal contracts will likely expand the surety market in both the public and public-private sectors in Canada, industry sources say. The legislation may also have a knock-on effect on other provinces, they add. In British Columbia, the B.C. Law Institute is currently undertaking a review of the Builders …

Contractors, Distributors Optimistic About Increased Construction Activity

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The Wells Fargo report matches up with the Associated General Contractors of America’s and Sage Construction and Real Estate’s 2018 outlook report released in early January. That report found that 75% of the construction companies surveyed planned to add to their payrolls this year, a sentiment spurred on by lower tax rates and expected regulatory reform. Read more here >>>

Trump Considers Private Activity Bonds to Help Address Infrastructure Costs

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By Ballard Spahr for “JDSUPRA” The White House released a 53-page framework on Tuesday setting forth its legislative goals for rebuilding America’s infrastructure (the Infrastructure Plan). The Infrastructure Plan is intended “to lead to at least $1.5 trillion in investments to rebuild our failing infrastructure and develop innovative projects” through $200 billion in federal funding to promote state and local …

Drones With Thermal Sensors Can Detect Hot Spots, Delamination, Moisture Instrusion, Spalling

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In the U.S., commercial drone use has accelerated across many industries. In the last two years, one million new pilots have registered with the Federal Aviation Administration, and by 2020, experts expect seven million drones to be in use. The 2017 Drone Market Sector Report found that construction (design, building inspection or monitoring) is in the top three uses for …

Surety Agreed to Post Bonds to Cover Subs’ Construction Lien Claims

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Behind the gleaming glass façade of LaSalle’s new civic centre lies a tangled mess of construction liens and lawsuits still making its way through the courts three and a half years after the building opened to the public. Battling in the civil courts are Piroli Construction, the general contractor on the $13.8-million project, and the Town of LaSalle, as well as …

US GDP Growth to Contribute to New Construction in US, Canada

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Groundbreakings on several mega projects late last year lifted ConstructConnect’s 2017 total U.S. starts to +11.1% versus 2016, more than the +7.9% set out in the previous quarterly forecast. The out-front timing of those mega project starts also caused trimming of ConstructConnect’s expectations for 2018, which is now being projected at +3.0% year over year versus the prior projection of +4.8%. …