Top Challenges Facing the Construction Industry

Denise Gillin News

By George Gravenstine for AssuredPartners.com The construction industry has been on the rise for the past few years and is continuing to grow in 2018. While growth is often positive, there are some challenges that accompany it. Here are four of those challenges the construction industry is currently experiencing: Shortage of Qualified Workers Generational Differences Technology Adoption Project Complexity To …

How to Prequalify a Surety – and Why It’s So Important

Denise Gillin Uncategorized

Posted by Todd Taylor, AFSB, CPCU on SuretyBondQuarterly.org – Sponsored content from Old Republic Surety The number of surety companies represented in any region can make the task of prequalifying or differentiating among them challenging to say the least. Many bond agents and brokers have access to more than 30 surety company markets, and there can be important distinctions between …

Pennsylvania Contractor Charged With Stealing $20M From Employees

Denise Gillin Uncategorized

By Zachary Phillips for ConstructionDive.com In the largest case of its kind on record, one of Pennsylvania’s biggest road and bridge construction firms has been charged with stealing more than $20 million from its workers, according to the office of State Attorney General Josh Shapiro. After a three-year investigation, Glenn O. Hawbaker Inc. of State College, Pennsylvania, has been charged …

PPP Loans and Taxes: What to Consider Before You File

Denise Gillin Uncategorized

By Kim Slowey for ConstructionDive.com Tax season is upon us, and for contractors that borrowed money under the federal government’s Paycheck Protection Program last year in order to help their businesses survive the economic hardships presented by the COVID-19 pandemic, there are a few issues worth noting. The biggest impact to their 2020 corporate tax returns filed this year will …

NASBP & SFAA 2021 Joint Legislative Fly-in

Denise Gillin Uncategorized

National Association of Surety Bond Producers (NASBP) and Surety & Fidelity Association of America (SFAA) have been advocating for use of performance and payment bonds when states and/or localities receive federal grant funds for construction of rural broadband infrastructure projects such as those that are part of President Biden’s infrastructure plan. On March 25, NASBP and SFAA held their first-ever …

False Claims Act Anti-Retaliation Claim Leveled at PPP Recipient

Denise Gillin Uncategorized

By Roxanna Gonzalez of Dorsey & Whitney LLP for JDSupra.com A former employee of Great Dane Petroleum Contractors, Inc. a full-service Pollutant Control and General Contractor based in Florida, alleged in a recently-filed lawsuit that the company misused nearly $3 million in Paycheck Protection Program (“PPP”) funds. See Rucker v. Great Dane Petroleum Contractors, Inc., No. 21-cv-207 (M.D. Fla. Mar. …

$1.9T COVID-19 Relief Package Includes Billions for Capital Projects

Denise Gillin Uncategorized

By Kim Slowey for ConstructionDive.com In a 220-211 vote, the House of Representatives passed the $1.9 trillion COVID-19 relief bill, officially known as the American Rescue Plan Act of 2021, and presented the legislation to President Joe Biden on Wednesday. The package contains plenty of provisions that will benefit the country in general, such as $1,400 stimulus checks to qualifying …

Fed Extends PPP Facility Through June 30

Denise Gillin Uncategorized

By Dan Ennis for BankingDive.com The Federal Reserve Board is extending through June 30 the Paycheck Protection Program (PPP) Liquidity Facility, the central bank said in a press release Monday. The program was infused with $284 billion before it relaunched Jan. 11. Roughly $128 billion was still unclaimed as of Feb. 28, according to Small Business Administration data. The Fed and Treasury …

3 Reasons Construction Companies Need to Digitally Transform Now

Denise Gillin Uncategorized

By Tom Stemm, of Ryvit for ForConstructionPros.com Digital transformation has been a key area of investment for businesses over the past decade and is expected to only continue. Even with the pandemic wreaking havoc on business spending worldwide, overall digital transformation spending was still forecasted to increase by 10% in 2020. The construction industry has lagged behind other industries in this respect, …