Local Businesses Speak on State of the Economy for Rocky Mountain Construction
DENVER, CO – Friday, February 6, 2015 – No matter what industry your company is involved in, there is no question that fluctuations in the economy will affect your business and your success. No one knows this better than Independent Electrical Contractors Rocky Mountain (IECRM) (www.iecrm.org) who recently hosted a free seminar for the construction industry detailing the current state of the economy.
The event was conducted by Bauerle and Company (www.bcdenver.com) and Colorado Business Bank (www.cobizbank.com), and included presentations by three speakers whose careers walk the line between the finance and construction.
Pete Aden, CPA CCIFP at Bauerle and Company, spoke on the critical importance of construction businesses staying current on ever-changing tax requirements and expounded upon different areas of tax law that are anticipated to change in the 2015 season. This year’s tax laws for construction businesses are more similar to those from past seasons – in other words, “new is the old” when it comes to construction business tax practices for the 2015 year.
Phillip Reschke, Capital Markets Analyst for Colorado Business Bank, reviewed the vast economic changes that have occurred within the construction industry over the past ten years. While fluctuations always occur, the last decade has witnessed significant financial growth and expansion in regards to the Colorado construction industry. He illustrated how closely items such as the price of oil affect the construction industry, and how relative markets such as housing and construction are to one another.
Robert Terry, Estimator for FCI Constructors (http://www.fciol.com), offered a general contractor’s perspective on how bidding and estimating are affected by the economy. With Colorado’s significant building boom, the need for an increased skilled workforce is one of the most pressing concerns in our industry. Working together with the Oil and Gas Contractors can help keep the Colorado construction industry’s momentum moving forward and help combat the labor shortage.
Attendees were shown the past, present, and future of the economy within the construction industry, which clearly depicted steady expansion and a period of overall growth for the Rocky Mountain region.
IECRM hosts several free seminars for their members and non –members each year to explore important topics and issues in the Rocky Mountain construction and energy industries.
About Independent Electrical Contractors Rocky Mountain (IECRM)
Since 1981, the Independent Electrical Contractors Rocky Mountain (IECRM) has been the leading electrical and renewable energy contractor association in Colorado. Representing over 200 member companies responsible for $2B annually, and educating over 1,000 electrical apprentices and licensed electricians annually, IECRM is dedicated to educating, promoting, and advancing the energy industry and merit shop philosophy.
IECRM, located in Denver, Colorado, is a chapter of the Independent Electrical Contractors (IEC), a national trade association for merit shop electrical and systems contractors.