NEWS FLASH: OCTOBER 2, 2020 |
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GOV. MURPHY EXTENDS PUBLIC HEALTH EMERGENCY 30 DAYS
On Friday, September 25, 2020 Governor Murphy signed Executive Order No. 186 to extend the Public Health Emergency another 30 days. The original Executive Order No. 103 was signed on March 9, 2020 and has been extended every 30 days since. “As we enter the Fall season, it is important to continue to take all steps necessary to save lives and stop the spread of COVID-19 in our state”, said Governor Murphy. “Maintaining our access to all resources available is critical, and an extension of the public health emergency will allow us to continue making progress against this virus.” Executive Order No. 186
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CMU CHECKOFF PROGRAM: BE HEARD!
Take a Brief Moment by October 8, 2020
The Mason Contractors Association of America (MCAA) is asking for a few moments to offer input on the CMU Checkoff Program by October 8, 2020. MCAA Notice "In recent years, the masonry market has faced erosion driven largely by misleading promotion from the wood industry. Their well-financed checkoff program funds the effort to replace masonry in segments we have traditionally dominated." MCAA noted "The only way we can start to recapture those markets is through a well-funded campaign that accurately portrays the unparalleled resiliency, beauty, and sustainability of masonry. Many feel this is our one shot to legitimately reclaim market share." Submit CMU Checkoff Program Input
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PAYCHECK PROTECTION PROGRAM (PPP) LOANS |
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SBA RELEASES PPP REPORT
The SBA released a Paycheck Protection Program Report of all approved loans through August 8, 2020 (the deadline for the second round of loans) which can be found here: SBA PPP Report
- There were 5,212,128 loans in total approved for $525,012,201,124 across the country,
- The overall average loan size is $101,000,
- The construction industry had 496,551 loans totaling $65,070,483,743 representing 12.39% of total loans,
- In New Jersey there were 157,405 loans for a total of $17,360,085,952.
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PPP LOAN FORGIVENESS
According to an October 1, 2020 CONTRUCTIONDIVE article, the SBA has received more than 96,000 PPP loan forgiveness applications since it’s online portal opened on August 10, 202, but has approved none. Banks have reported:
- The forgiveness application is time consuming and more complicated than they thought,
- They are waiting to see if new guidance or legislation will streamline the process,
- Waiting to see if new legislation will provide automatic forgiveness for loans; of $50,000 or less or up to $150,000 or less.
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SBA PROCEDURAL NOTICE
If you haven’t already applied for PPP Loan Forgiveness like some, check out the “SBA Procedural Notice” released for lender submission of PPP Loan Forgiveness decisions to SBA and SBA Forgiveness Loan reviews.
- The lender submits loan forgiveness decision to the SBA,
- SBA will review eligibility and compliance during the loan forgiveness process,
- All loans are subject to review and all loans over $2 million will be automatically reviewed.
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MORE PPP LOAN FRAUD CHARGES COMING
ENR recently reported that PPP Loan Fraud Charges are coming as investigators dig deep into financial records: ENR Article
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FREE LITTLER WEBINAR: OCTOBER 7, 2020 @ 1:00 PM
The COVID-19 Testing Conundrum:
What Employers Need to Know to Develop an Effective and Lawful Testing Program
Join this FREE Webinar from Littler on Wednesday, October 7, 2020 @ 1:00pm to hear information and guidelines on how to handle COVID-19 testing, keep in compliance with regulations and your employees' rights. "Our multidisciplinary panel of Littler subject matter experts will provide critical insights and actionable recommendations for employers grappling with the challenges of implementing a sensible, cost-effective, and legally compliant COVID-19 testing program." Get More Details & Register
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FREE CPWR-NIOSH WEBINAR: OCTOBER 8, 2020 @ 2:00 PM
Impact of COVID-19 on the Industry and New Research Initiatives
Join this FREE Webinar from CPWR on Thursday, October 8, 2020 @ 2:00pm. CPWR will be discussing the latest findings from their Data Center and NIOSH will talk about their new research project on respirators. Get More Details & Register
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FMI – THIRD QUARTER NORTH AMERICAN
ENGINEERING AND CONSTRUCTION OUTLOOK
FMI just released its third quarter “North American Engineering and Construction Outlook.” Recent economic disruptions considered include the domestic and foreign impact of COVID-19, high volatility across financial and equity markets, and political uncertainty in addition to other factors. FMI is anticipating a downtrend in nonresidential construction over the next several years.
Key Takeaways:
- Total engineering and construction spending for the U.S. forecast to end flat, or less than -1% in 2020, compared to 2% growth in 2019,
- Declines will be led by abrupt contraction in nonresidential building markets,
- Multiple segments that were previously in down categories have been upgraded this quarter,
- FMI’s third quarter 2020 Nonresidential Construction Index (NRCI) at 45.6 reflects a large improvement from the second quarter reading of 36.9, up nearly 24%; however the index remains well below the growth threshold of 50.
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ARCHITECTURAL BILLINGS INDEX (ABI)
As an economic indicator for nonresidential construction activity, with a lead time of about 9 – 12 months, the ABI for August 2020 reports that Architecture firm billings still show little signs of improvement.
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NJ DEPARTMENT OF LABOR AND WORKFORCE DEVELOPMENT:
DIVISION OF ECONOMIC & DEMOGRAPHIC RESEARCH
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MASONRY TRIVIA
Brick is fired in kilns of approximately 1093 degrees Celsius.
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Don't forget to make sure your Membership Listing is up to date!
Send in your Profile Form by
Wednesday, October 14, 2020.
Let us know if you need your
current Profile information.
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