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CBO Editorial Staff

  • Resources

    Commercial Real Estate Development and Construction Rebounds in 2011

    WASHINGTON (May 1, 2012) — Development and construction of commercial real estate – office, industrial and retail buildings – rebounded in 2011, the first year to post gains since the recession began in 2007, according to a report, How Office, Industrial and Retail Development and Construction Contributed to the U.S. Economy in 2011, released by the NAIOP Research Foundation. The total economic impact of the development (pre-construction, construction and post-construction) of commercial real estate during 2011 added $261.6 billion to the GDP, compared to $231.7 billion in 2010, a 13 percent increase, according to the report. Construction spending on commercial real estate totaled $92.3 billion, a more than 12 percent increase over 2010.  This spending supported nearly 2 million jobs nationally. The increases in construction...

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    New Holland Donates Equipment to Arlington National Cemetery Beautification

    RACINE, Wis. (April 24, 2012) – New Holland Construction today announced it is the Platinum sponsor of the Professional Landcare Network’s (PLANET’s) 16th annual Renewal & Remembrance landscaping event scheduled for July 9, 2012 at Arlington National Cemetery in Arlington, Virginia. New Holland Construction will donate the use of equipment to help dig, load and move mulch, lime and other materials to enhance the beauty of the military cemetery and national landmark. “We are proud to donate our equipment, time and resources to such an important and rewarding cause that honors America’s veterans,” said Jim Hasler, vice president of CNH Construction, North America. “When you see the thousands of tombstones at Arlington National Cemetery, you can’t help but feel a deep sense of admiration and...

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    ARA Insurance Launches Workers’ Compensation Insurance Program

    KANSAS CITY, MO (April 30, 2012) – ARA Insurance, Kansas, City, Mo., a wholly owned subsidiary of the American Rental Association (ARA), has partnered with Meadowbrook Insurance Group, Southfield, Mich., to provide ARA members with a new workers’ compensation program. “Workers’ compensation insurance, like health insurance, becomes very regional with different delivery systems. Certain states can direct people to certain hospitals and in other states you can’t, so you need a national program with strength. We believe we’ve found that with Meadowbrook Insurance,” says Phil Kelling, president and CEO of ARA Insurance. Kelling says that Meadowbrook Insurance specializes in writing association programs and they have more than 30 such programs around the country. “They also offer a safety dividend depending on claims, which can benefit...

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    Holland & Knight Successfully Represents General Contractor in “Bid Shopping” Case Brought by Subcontractor

    West Palm Beach, Fla. (April 25, 2012) – The Fourth District Court of Appeal reversed a lower court’s judgment against Holland & Knight client, West Construction, Inc. in a closely-watched case involving allegations of breach of contract and “bid shopping” by a general contractor. In its bid to secure work for the Village of Royal Palm Beach, Florida Blacktop, an asphalt paving subcontractor, included a condition that stated: if West Construction (the general contractor) “in any way” used the figures contained within the bid, “such action(s) shall in all instances constitute acceptance” of the bid and “shall create a binding contract between the parties.” When West Construction ultimately awarded the project to a competitor that offered a lower bid, Florida Blacktop sued for breach of contract and,...

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