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October 18, 2014 • Vol. IX • No. 21 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215/885-2900 • Toll Free 800-523-2200 • Fax 215/885-2910
Inside
Pennington Cuts Ribbon on $31M Centerpiece By Lori Tobias CEG CORRESPONDENT
After three years of construction, Pennington County, South Dakota, is ready for the October ribbon cutting on the centerpiece of a multiphase project that includes an expanded parking garage, a new criminal evidence building and a $31 million, 100,00 sq. ft. administration center. The new building project was bid in April 2012 — a time when the economic downturn was being keenly felt. Construction project manager
Nati onal Dealers Flock to Annual Conference...16
Efficiency Shoring Hosts Texas Open House...40
Attachments Section ............ ...................................... 9-13 Truck & Trailer Section ........ ......................................23-25 Recycling Section ........31-39 Auction Section ..........43-51 Business Calendar ............44 Advertisers Index ..............50
see PROJECT page 46
Industry Employment, Spending Increase
Honnen Celebrates Utah Facility Opening...20
Table of Contents ................4
Mike Kuhl believes the timing was fortuitous for everyone. “It did create a very good bidding environment for us,” Kuhl said. “We hoped that we would get a local contractor, but we did not rate bids in terms of selecting a local contractor. It just worked out that way. At the time local contractors were looking for work and we were pretty confident we would get a local contractor.” The county also was able to take advantage of some special federal government bonding programs that
The administration building is constructed of brick and precast concrete and features significant glass curtains.
Construction employment expanded in 220 metro areas, declined in 73 and was stagnant in 46 between August 2013 and August 2014, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials added that construction spending climbed to $961 billion from $915.3 billion between August 2013 and August 2014, a 5 percent increase, accord-
ing to federal data also released Oct. 1. “Even as construction employment continues to rebound in many parts of the country, other areas continue to lose ground, or like Phoenix, backslide,” said Ken Simonson, the association’s chief economist. “Similarly, while construction spending has been increasing overall in the past year, see INDUSTRY page 49
ELFA Reports Industry Confidence Up in Sept. The Equipment Leasing & Finance Foundation (the Foundation) released the September 2014 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827 billion equipment finance sector. Overall, confidence in the equipment finance
market is 60.2, an increase from the August index of 58.9. When asked about the outlook for the future, MCI-EFI survey respondent Valerie Hayes Jester, president, Brandywine Capital Associates Inc., said, “We are experiencing stronger demand than in the past several months, which bodes well for a strong fourth quarter. There is still concern for yield erosion, but we look forward to concluding the year on a positive trend.”
September 2014 Survey Results: The overall MCI-EFI is 60.2, an increase from the August index of 58.9. • When asked to assess their business conditions over the next four months, 36.4 percent of executives responding said they believe business conditions will improve over the next four months, up from 18.2 percent in August. 60.6 percent of respondents believe business condisee ELFA page 49