![]() We find ourselves having to bid a lot more than typical because we’re not really sure which jobs are going to go and which ones aren’t. Our bidding activity remains as high as it’s ever been, but the pace of awards is very, very slow. ![]() “The interest rates are affecting a lot of projects. High interest rates are a big issue, agrees Trainor of Ventana. “Some of the interest rate and product availability issues encourage companies to partner earlier with us to take advantage of the value that we can give when we get out ahead of some of the challenges that they’re facing and plan around them,” Vogel says. While rising interest rates and inflation is challenging, in a way it can sometimes be a strength, says Jacob Vogel, chief operating officer of MMC Contractors, an Overland Park, Kan., contractor specializing in mechanical systems. We warehouse and we buy things by truckloads, but sometimes we still couldn’t mitigate that problem.” By the time it peaked, it was $207/1,000 ft. ![]() I saw a lot of our material costs go up 50% to 60%,” says Howard Mayers, president of Mayers Electric Co. “I’m 77 and I saw something that I never saw before. High inflation and rising interest rates were two of the challenges contractors faced. liked working with us because of the ease of being able to work collaboratively in the building model. Thankfully, that’s been a strength of ours. “More and more architecture and other companies rely on BIM to execute projects. ![]() Just being technologically savvy makes a difference, he says. Technology in general is reshaping how specialty contractors do business, says Marty Trainor, co-founder and executive vice president of Ventana, a Chicago-based company specializing in glass and other building facades. This year, McCormick predicts the solar business will earn more than $1.3 billion. Tom McCormick, president and CEO of Primoris Service Corp., says his company-whose electrical office is in Inver Grove Heights, Minn.-bought a $20-million-a-year solar business in 2016. EV vehicles and batteries are definitely bringing it on,” Ozgenc says. We think this trend is going to continue. “We’re involved in an EV battery company with Panasonic. ![]()
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