Here is your SUBBY Nomination Form Make a Nomination Today!
You know an individual or company that deserves recognition for a job well done. Please include them in a Subby Nomination here. Obviously, this takes some effort on your part but it means a lot to those who are nominated. Subby nominations are an obligation if you support or are a member of ASA of Metro Washington. For 61 years, this has been the opportunity to recognize the GCs, Owners and other industry stakeholders for outstanding performance in creating a fairer and more efficient industry in the DMV. How will your company be sure it makes nominations?
Get Great Team in Early
Our General Contractor Partners are best positioned to nominate or get one of their projects nominated for the Great Team award. It is always a highlight of the SUBBYs. This year we are asking that you get your Great Team nomination in early. So why not decide which of your projects deserves the award and start compiling the information that will assure a winning nomination. Click here for more about the Great Team Award.
DC Has Highest Unemployment Rate
Where can we find labor if the unemployment in both Virginia and Maryland is only 2.9 percent? The District has the highest unemployment rate in the nation at 5.7 percent. This rate is basically the same as last month but it an increase over Sept. 2023 levels according to this article from the Bureau of Labor Statistics. Politicians are challenged to lower this rate in DC. Any ideas on how the construction industry could help? Reply to this email with your ideas.
Beige Book on Economy
The Federal Reserve is waiting to see the effects of Hurricane Helene on our region, but indicates the economy in our region picked up slightly. Our Region reaches from South Carolina to Delaware, so this report only provides a glance at what is happening with OUR economy. Commercial real estate activity has leveled off in the past month with a decrease in vacancies in prime A spaces but continued vacancy growth in lower-grade markets. In the industrial sector, there was caution around speculative building but an uptick in owner-user purchases. It seems private work in Virginia is being delayed until 2025. Click here for more information.
Upcoming jobs
This article from the Washington Business Journal lists 10 projects being planned in Prince Georges and Montgomery Counties, including the Purple Line light rail transit system and the Univ. of Maryland Capital Regional Medical Center. Although some may not come to fruition, it indicates fair amount of work in the pipeline into the foreseeable future. Also, it was recently reported that Clark has been named to construct the $800m renovation of Capitol One Arena.
IRS and Wage Theft
The Federal Crimes Enforcement Network sent a notice to banks and other financial institutions a year ago warning of payroll tax evasion and workers’ compensation fraud schemes in the construction industry. This 10-page document explains what the banks are to lookout for and what their obligations are to file a Suspicious Activity Report (SAR) on such activities.
Too Much Risk – Too Little Profit
An hour was well spent by members and guests who attended the Webinar last week on strategic planning and cash flow. If you would like a copy of the recording, reply to this email. Chad Prinkey and Scott Peper have some valuable tools to help address the lack of profit in your business. 5% profit is too little for companies that face the risks that you face.
PM Workshop
Please register today for the 2025 Project Managers’ Workshop, which starts in January. Consider the PMs, APMs, Estimators and others in your company who could benefit from some of the best instructors covering the issues PMs face every day. Classes start at noon on Jan. 9th and run every two weeks for six weeks. This event will sell out, so if you are interested, register today. Click here for the curriculum and to register.
Hispanic Heritage Month
Last Wednesday a number of our GC Partners, ASAMW and other associations and agencies networked with over 400 small minority, Hispanic, and immigrant-owned construction firms based in the DMV as well as our members. Even though Hispanic Heritage Month ended in October, we continue our efforts to engage this important segment of our industry.
MEMBER UPDATE
New Rule on Independent Contractors - Thanks to member CBM for providing the final rule in independent contractors vs. employees.
ADVOCACY
DMV – ASAMW is now working on legislation on its own without the support of the Alliance for Construction Excellence. Therefore, we rely more than ever on the support of the membership to accomplish needed legislative changes. Here is where we are at the moment:
DC – Plans are in place to initiate legislation that will make sure subcontractors are paid for work completed on a timely basis; particularly change order work.
MD – Cindy Athey and I met with the MD Secretary of Labor, Portia Wu, on how the Governor’s order on wage theft will affect Minority and Women Small Businesses in construction. It is evident this order will result in more enforcement of wage theft violations in Maryland. Your comments on the increased enforcement of wage theft are welcome.
VA – Members are asked to recommend any legislation they think needs to be passed in the Commonwealth to address fairness in construction.
