First a Pandemic, Now Rising Prices Complicate Pittsburgh-area Construction Projects

Denise Gillin News

By Mark Belko for Pittsburgh Post-Gazette Rising construction costs represent the latest challenge facing local developers and contractors as they seek to navigate the COVID-19 pandemic. During a panel discussion Thursday, representatives from the University of Pittsburgh, UPMC, the Elmhurst Group and Rycon Construction said increases in the price of structural steel, copper, wood and other materials have had an …

Addressing the Skilled Labor Shortage in 4 Steps

Denise Gillin News

By Luiza Mills for ConstructionDive.com “Good jobs at good wages” is not just a political slogan. The electrical industry is making good on this ambitious promise today. Solid careers with promising, sky-is-the-limit futures for smart, hardworking professionals are available right now, no costly college degree required. Given this, how do we explain the chronic shortage of skilled electricians and other tradespeople? …

Construction of Maryland’s Much-delayed Purple Line to Resume Early Next Year

Denise Gillin News

By Julie Strupp for ConstructionDive.com The project has attracted national attention as it is one of the first of its kind to rely on private funding. Unfortunately the line has been plagued with delays and lawsuits, and the initial contractor quit the public-private partnership (P3) last September following disputes with the state over who should pay for the nearly $800 million in cost …

Clark Launches Small Business Inclusion Program

Denise Gillin News

By Jennifer Goodman for ConstructionDive Clark Construction Group has launched a small business initiative designed to expand opportunities for disadvantaged construction firms, even on projects where inclusion goals are not mandated. The SDBE15 program is designed to foster greater participation by small, disadvantaged-, minority- and women-owned businesses on Clark’s construction projects nationwide, according to a press release. Through the program, …

How to Get Your First Bond

Denise Gillin News

By Erik Mueller for Old Republic Surety Start the process early To ensure timely approval, begin the submission process well before the date you need the bond. A good rule of thumb is to allow 30 days for the process to be completed; if you can start earlier, so much the better. Allowing at least 30 days provides the underwriter …

Are You Ready for Your First Surety Bond?

Denise Gillin News

Posted by Erik Mueller for Old Republic Surety Maybe you’re bidding on your first public project, or the financiers of a private job require a bond. You may have previously qualified for a Fast Bond program, which is available for small projects, but now you’ve graduated to standard contract bonds. You’re probably a bit anxious about going through a full underwriting process. But …

Is Your Bond Company Slowing Your Growth?

Denise Gillin News

By Jamie Collum and Andrew Cartwright for Daily Commercial News As explained in the last Surety Corner, providing accurate and timely interim financial reporting is a key factor in successfully growing your bonding facility. The surety company wants to know throughout the year how your company is performing financially. When the results are positive this can lead to increased surety …

SBA Bond Guarantee Program – A Great Tool in Increasing Bonding Capacity

Denise Gillin News

By Nick Newton for AssuredPartners Anyone working in the construction bond industry has seen the scenario where a client or prospect is requesting bonding capacity larger than the standard surety market is willing to provide. While some sureties will utilize tools like escrow or collateral, the SBA Bond Guarantee Program offers an alternative solution, enabling greatly increased capacity for your …

Contractor Blames Demise On Dispute With Florida DOT

Denise Gillin News

By Scott Judy for Engineering News-Record Highway contractor D.A.B. Constructors is winding down operations and walking away from six ongoing projects after the Florida Dept. of Transportation defaulted it from a $33-million interchange project and allegedly failed to reimburse the Inglis, Fla.-based contractor more than $10 million in costs on a separate $31.8-million contract. In a statement published July 26, …