Insurers Have Growing Role In Helping Contractors Manage Loss Control

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The high-risk intersection of skill level and safe operations is traditionally a “proceed-with-caution” zone in the construction industry. It presents the greatest peril when owners and contractors are pressed to hire earnest but unskilled workers to bridge the gap between the current workforce and the staffing levels they need to meet demand. Tell me more >>>

Meeting With Surety Agent Among Ways Contractors Can Effectively Manage Growth

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The U.S. commercial (non-residential) construction market outlook for the remainder of 2017 and through 2018 is expected to grow in the 4% range, according to the AIA Consensus Construction Forecast panel. This is slightly below its previous forecasts of 5-7% entering 2017. There are factors that could add tailwind to growth estimates, which include tax reform, financial deregulation, and a …

SBA Names CBI In Top 10 Bond Agencies for FY2017

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The U.S. Small Business Administration announced its most active surety companies and agencies for fiscal year (FY) 2017, which contributed to increases in the Surety Bond Guarantee (SBG) Program’s activity. Construction Bonds, Inc. (CBI) was named one of the top 10 performing bond agencies for 2017. The standing was determined by the number of bonds written through the SBG Program. …

Surety to Cover Cost Overruns for Delayed Pennsylvania Wastewater Facility

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Liberty Mutual has agreed to pay all cost overruns associated with delays in the completion of Clearfield Municipal Authority’s new waste water treatment plant, announced CMA Engineer Jim Balliet of Gwin. Dobson & Foreman. In May 2014 CMA began a $35 million project to construct its waste water treatment plant. But in early 2015, the original contractor, NVP of Jeanette, defaulted …

Companies Need Certifications to Benefit From Minority Programs

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Business owners are often aware that there are special opportunities available to businesses owned by women, minorities, veterans and certain other groups. However, it is sometimes unclear exactly what those opportunities are, who affords them and who is eligible. The answers to these questions can vary. Generally, many government agencies have developed programming aimed at removing marketplace barriers for businesses …

Trump Tax-Cut Proposal for Small Construction Businesses is Unclear

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Tax bills for most small construction companies would fall under a broad tax-reform outline unveiled on Sept. 27 by the Trump administration and congressional Republicans. The proposal calls for cutting the corporate tax rate to 20% from 35%. Perhaps most important for small construction firms, the tax rate for pass-through businesses would be limited to 25%. Pass-through entities, such as …