April 22nd, 2020
This article was originally published on April 9, 2020. Last updated on April 22, 2020. April 22, 2020 Update: Less than a week after the Paycheck Protection Program ran out of funds, Congress has approved an additional $320 billion that could be available as early as next week. The Senate passed the bill on Tuesday and the House is expected to vote on the bill on Thursday. This is great news for small businesses that applied and didn't receive funds and for independent contractors and self-employed individuals who weren't even allowed to apply for the loans until April 10. The new funding also allocates $60 billion to the Economic Injury Disaster Loan program which is intended to be used for working capital. April 17, 2020 Update: The Paycheck Protection Program, which was part of the CARES Act, has run out of the $349 billion available for small businesses to be able to keep their workers employed for eight weeks during the pandemic. Companies that qualified were able to start applying on April 3, 2020 and it was expected to run through June 30, 2020. The Small Business Administration said that they are no longer accepting applications while the Treasury Department and Congress work to approve more funding. The CARES (Coronavirus Aid, Relief, and Economic Security) Act includes many potential relief opportunities for the nation’s construction industry, which has been hit hard with disrupted supply demand, delayed projects, closed sites, and labor shortages. The Paycheck Protection Program (PPP), a provision in the CARES Act, will help construction companies keep their workforce employed during the coronavirus crisis.
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October 26th, 2018
There are plenty of reasons to go into construction.
September 22nd, 2017
Employment and revenues for architecture, engineering and construction have grown modestly for most of 2017. But the signals for the next 12 months are mixed, with architectural billings positive, construction starts uneven and contractors hiring, but worried about finding enough qualified workers. Meanwhile, there is huge uncertainty about the impact of potential changes in tax, infrastructure, immigration and other types of policy. How will these cross-cutting influences play out?