May 20, 2020
As we are all aware, the COVID-19 public health crisis has significantly impacted the way we do business in New England, across the country and around the world. The crisis has affected individual businesses in very different ways, but it’s difficult to pinpoint any industry that has made it through this crisis unscathed.
You can find our full suite of resources, webinars, fact sheets and analysis related to the COVID-19 crisis on our website by clicking here.
For this article, though, we want to focus solely on the construction industry.
Industry-Specific Guidelines
As the COVID-19 public health crisis has continued, state leaders in Rhode Island, Connecticut and Massachusetts have consistently enacted industry-specific guidelines to help curb the spread of the virus, while giving businesses the guidance they need to keep the economy running.
Here are the latest guidelines for the construction industry:
- Rhode Island Guidelines: Building Code Commission (State of Rhode Island)
- Connecticut Guidelines: Safe Workplace Rules (State of Connecticut)
- Massachusetts Guidelines: Construction during COVID-19 (Commonwealth of Massachusetts)
- Industry Guidelines: COVID-19 Guidance for Construction (OSHA)
Industry-Specific Resources
In addition to complying with state-mandated rules and guidelines, several professional organizations across the region have worked with their members to issue further guidance.
Here are a few resources and news articles related to the construction industry that you may have missed:
- NATIONAL: Construction Industry Toolkit (Construction.com / Doge Research)
- MA: City lays out plan to restart construction (Boston Business Journal)
- CT: Construction firms adopt innovative protective measures (Hartford Business Journal)
- RI: Safeguards in place for factory, construction workers (Providence Business News)
Construction-focused Professional Associations
- Rhode Island Builders Association: Representing nearly 1,000 members across the state, RIBA is considered a leading voice for the Ocean State’s construction industry. Catch up on their latest resources by clicking here.
- Construction Industries of Rhode Island: CIRI actively represents Rhode Island’s construction industry in matters related to labor relations, government relations and federal and state compliance. Their latest resources and news can be found by clicking here.
- Associated Builders and Contractors: ABC is a national construction industry trade association representing more than 21,000 members across the country. The organization has local chapters in most states; here are the links to chapters representing Rhode Island, Massachusetts and Connecticut.
- Associated General Contractors: The Associated General Contractors of America (AGC) is the nation’s leading professional trade association for the construction industry. Their national COVID-19 resources can be found by clicking here. The organization also has very active local chapters in Rhode Island, Massachusetts and Connecticut.
- Construction Financial Management Association: CFMA is a nonprofit organization dedicated to serving the educational needs of today’s construction financial professionals. The organization is home to a number of well-sourced publications, all of which you can find by clicking here.
- Connecticut Construction Industries Association: CCIA represents many sectors of Connecticut’s construction industry and aims to advance and promote a positive business climate across the state. The group has a landing page dedicated to COVID-19, which you can find by clicking here.
- Young Contractors Forum: Sponsored by the Associated General Contractors of Connecticut and the Connecticut Construction Industries Association, YCF aims to provide construction professionals under the age of 40 the educational programs and experiences they need to thrive within the industry. Learn more by clicking here.
- The Construction Institute: A nonprofit, nonpartisan association under the umbrella of the University of Hartford, the Construction Institute aims to connect the professionals who contribute to the design, construction and operation of the built environment. Learn more by clicking here.
- Utility Contractors Association of Connecticut: UCAC represents the underground utility and site work construction industry in Connecticut. The organization’s COVID-19 resources can be found by clicking here.
Financial Relief Toolkits
Since the beginning of the pandemic, the federal government has passed a series of stimulus packages aimed to provide the national business community with the financial relief it needs to navigate and recover from this crisis.
Our team at blumshapiro has been closely following the latest developments and has created several toolkits that we hope will prepare you to take advantage of various relief options.
- TOOLKIT: Families First Act (blumshapiro)
- TOOLKIT: Paycheck Protection Program (blumshapiro)
- CALCULATOR: PPP Loan Forgiveness Calculator (blumshapiro)
Additional Financial Relief Resources
Federal, state and local government leaders – as well as professional associations, philanthropic foundations and other groups – are all rolling out loan programs, grant opportunities and other forms of financial relief options on a seemingly constant basis.
Our best piece of advice is to contact your financial advisor to develop a plan that works for you. In the meantime, here are a few resources that may help start that process.
- OVERVIEW: Small Business Grants for Companies Hit by COVID-19 (Inc.)
- WATCH: Understanding the world under CARES (Inc.)
- WATCH: Getting Your Stimulus Loan Faster (Inc.)
- READ: SBA issues additional PPP resources (blumshapiro)
- ANALYSIS: Insight into emergency stimulus package (blumshapiro)
- WEBINAR: Federal Tax Changes Around COVID-19 (blumshapiro)
- READ: Talk to your banker about the CARES Act (blumshapiro)
- SEARCH: Find an SBA-Approved Lender (SBA)
- FAQ: Paycheck Protection Program Loans (SBA, updated as of April 15)
blumshapiro is the largest regional business advisory firm based in New England, with offices in Connecticut, Massachusetts, Rhode Island and Virginia. The firm, with a team of over 500, offers a diversity of services, which include auditing, accounting, tax and business advisory services. blum serves a wide range of privately held companies, government and non-profit organizations and provides non-audit services for publicly traded companies. To learn more visit us at blumshapiro.com.