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January 22, 2014 • Vol. XXVI • No. 2 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910
Inside
ELFA Names 10 Top Acquisition Trends for 2014
Construction Continues on NCA&T Building…8
A flurry of activity is under way at East Tennessee State University (ETSU), as construction teams continue working on a series of projects totaling $100 million. With a current enrollment of more than 15,000 undergraduate, graduate and professional students, the school — located in Johnson City — is committed to bringing significant change to its campus. “We have approximately 25 projects either in design or construction,” said William Rasnick, associate vice-president of facilities planning, management and construction of ETSU. “They cover many different areas, including athletics, housing research, academics, student services
The Equipment Leasing and Finance Association (ELFA), which represents the $827 billion equipment finance sector, revealed its Top 10 Equipment Acquisition Trends for 2014. Given U.S. businesses, nonprofits and government agencies will spend in excess of $1.5 trillion in capital goods or fixed business investment (including software) this year, financing more than half of those assets, these trends impact a significant portion of the U.S.economy. Businesses will need to consider a dynamic environment of economic growth, wider credit availability, and favorable interest rates in their equipment acquisition decision-making. ELFA President and CEO William G. Sutton, said, “For a majority of U.S. businesses, equipment financing is a critical source of funding, helping them to acquire the equipment they need to operate and grow. Equipment acquisition plays a critical role in driving the supply chains across all U.S. manufacturing and service sectors. To assist businesses in planning their acquisition strategies, we have distilled recent research data, including the Equipment Leasing & Finance Foundation’s 2014 Equipment Leasing & Finance U.S. Economic Outlook Report, industry partici-
see ETSU page 42
see ELFA page 62
East Tennessee State University photo
Rentenbach Constructors Inc. is responsible for building the parking garage and alternate parking lot.
Scott Gallaher Relies on Business Connections…32
ConExpo Retro See page 28 for an ongoing series of highlights from past ConExpos as they were reported in the pages of CEG.
ETSU Continues Series of Projects Totaling $100M By Cindy Riley
CEG CORRESPONDENT
Table of Contents ........4 Paving Section ......47-57 Parts Section ........58-59 Auction Section ....70-85 Business Calendar ......84 Advertisers Index ......86
Employment Varies From November 2012 to ’13 Construction employment expanded in 211 metro areas, declined in 67 and was stagnant in 61 between November 2012 and November 2013, according to a new analysis of federal employment data released Dec. 31 by the Associated General Contractors of America. Association officials said the employment gains were encouraging, but cautioned that future gains were dependent on continued economic growth and new investments in aging
domestic infrastructure. “Construction employment continued to expand in many parts of the country in November, but most areas have a long way to go before reaching prior peak levels,” said Stephen E. Sandherr, the association’s chief executive officer. “It will take many more months of strong economic growth and new investments in public infrastructure before many places experience construction employment levels close to their prior
peaks.” Atlanta-Sandy Springs-Marietta, Ga. added the largest number of construction jobs in the past year (10,500 jobs, 12 percent), followed by Los Angeles-Long Beach-Glendale, Calif. (9,100 jobs, 8 percent), Santa Ana-Anaheim-Irvine, Calif. (8,200 jobs, 11 percent) and Tampa-St. Petersburg-Clearwater, Fla. (6,400 jobs, 12 percent). The largest percentage gains EMPLOYMENT see page 66