While President Trump’s recently announced increased tariff on steel and aluminum imports could increase employment within the facilities that produce those materials in the U.S., the job loss in other industries could prove to be five times larger.
So says a report published by the Washington-based Trade Partnership entitled Policy Brief: Does Import Protection Save Jobs? The report, authored by Joseph Francois, a professor of economics at the University of Bern, and Laura Baughman, president of the Trade Partnership, contends that just over 33,000 new jobs would be created as a result of the tariffs. But the report also predicts that the tariffs could see the loss of 179,000 jobs nationally in a wide variety of industries, including car parts manufacturing and financial services. The tariffs announced by the President are thought to be a doubled-edged sword for the construction industry. They will make domestic steel and aluminum more available for building projects, but may result in a net loss of more than 28,000 jobs because those same U.S.-made materials could end up being more expensive. The overall employment impact of Trump’s new tariff policies, “do not take into account any potential retaliation against U.S. exports,” the report adds, “only of the tariffs themselves.” Although the President has called for a 25 percent tariff increase on steel coming into the U.S., and a 10 percent increase on aluminum, he has also indicated he would support exemptions to increases for those same products coming in from Canada and Mexico. By Garry Boulard
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A busy and historic block in downtown Denver may soon be seeing the construction of two new mixed-use structures. The development company Larimer Associates, along with real estate firm Urban Villages, has announced plans to build the structures in two alleyways that run parallel with Larimer Street, on both sides of that street. One of the most popular and well-used blocks in all of Denver, Larimer Street is graced with two and three-story brick buildings dating to the 19th century which today house restaurants, taverns, and coffee shops. One of the proposed new structures would be built to house up to 300 apartment units, a portion of which would be dedicated to affordable housing. The second structure will house condominiums. Both buildings will also feature retail space on their ground floors. In a statement, Jeff Hermanson, the chief executive officer of Larimer Associates, noting the neighborhood’s historic roots, said, “Our intention is to invest heavily in the block so that it continues to stand the test of time.” Continued Hermanson: “We want to preserve all that is special and historic, while ensuring this iconic block remains vibrant for generations to come.” The project is currently awaiting city approval. By Garry Boulard The 88-acre site that makes up the Arizona State Fairgrounds in Phoenix may be redeveloped to allow for retail, office, and even some residential space.
Those are among the ideas current under study by State of Arizona officials, as well as various design specialists, as part of an effort to revive a site that is challenged with several aging buildings, some of which are in need of upgrading. Members of the Arizona Exposition and State Fair Board say that they are open to allowing new developments on the site. But it seems fairly certain that the iconic 12,200 square-foot State Fair Civic Building, which is a Works Progress Administration structure put up in 1938, will be a part of the site’s redevelopment. Officials with the Arizona Exposition and State Fair Board, along with the Arizona State Historic Preservation Office and the Governor’s Office, are hosting a series of public input meetings this spring to discuss possible future uses for the site. Located in 1826 W. McDowell Road, the site has hosted the popular annual Arizona State Fair since 1946. By Garry Boulard Home-buyer demand for houses with “smart home” features is expected to greatly accelerate over the next decade.
That projection is being made by the New York-based Future Market Insights, a research and consulting firm, forecasting a future smart home market jump of more than $100 billion, from the $20 billion recorded last year to around $125 billion in 2027. Smart building features in homes, which have especially become more common with the advent of smart communities, focus on such items as physical security, lighting, and temperature control, all done in ways regarded as environmentally sensitive. According to analysts, the demand for smart building components is also being fed by the increased rate of urbanization in developing countries. According to the Future Markets Insight report, smart building segment growth is expected to be the strongest with a demand for home security features, a forecast jump between 2017 and 2027 from $5.billion to $35.9 billion. That segment is followed by energy-efficient lighting, going from $4.3 billion to $28.5 billion, and energy/temperature control features, jumping from $4.1 billion last year to $24.5 billion in 2027. By Garry Boulard Up to $1 million has been approved as part of New Mexico’s fiscal year 2019 budget for the planning, design, and construction of additions and enhancement to the Bernalillo County Courthouse in Albuquerque. Funding for the project was passed bv lawmakers in Santa Fe as part of House Bill 306, and signed into law during her final regular session with those lawmakers by Governor Susana Martinez. The work at the courthouse at 401 Lomas Boulevard NW will specifically include an upgrading of restricted access areas, the judges’ chambers, and jury rooms on the fourth floor of the building. Altogether, Martinez approved more than $60 million in capital outlay funding for a variety of facility construction, upgrading, and renovation projects across the state. Among the other funded bonds: $500,000 for the planning, design, and construction of a flood control structure at the Columbus Port of Entry in the village of Columbus; and $1.5 million for improvements to the Albert Amador Building in Espanola, the Harriet Sammons Building in Farmington, and the James Murray Building in Hobbs. Funding was also approved by legislators and signed into law by Martinez for the $500,000 construction and renovation of New Mexico Commission for the Blind facilities in Bernalillo and Otero counties. That work will be done in accordance with American with Disabilities Act standards. Three youth facilities, the Camino Nuevo Youth Center and the Youth Diagnostic and Development Center, both in Albuquerque, as well as the John Paul Taylor Center in Las Cruces, are receiving a combined $1 million for infrastructure improvements and security system upgrades. An additional $5.1 million has been approved for facility work at the New Mexico Vital Records & Health Statistics offices in Santa Fe. The $6.3 billion budget for fiscal year 2019 signed into law by Martinez takes effect on July 1 of this year. By Garry Boulard Chief financial and accounting officers, as well as controllers across the country, are feeling increasingly buoyant about prospects for the U.S. economy for the rest of 2018.
That’s the conclusion of a survey just released by the New York-based Association of International Certified Professional Accountants. In releasing its findings, the association notes that its CPA Outlook Index is at its highest level of optimism since that measurement was first used in 2007. A reading of 50 or above on the index is regarded as indicating a positive statement. This most recent index comes in at 81. According to a summary of the survey, finance experts are particularly pleased with a current national revenue growth of 5 percent—the highest such figure in more than a decade. A press release explaining the index response notes that while revenue growth was set at 4.5 percent in 2007, “the projection didn’t go above 4 percent again for seven years.” The summary also noted that business profits are expected to grow this year by 4.4 percent: “Until this quarter, the projection for profit growth had never reached 4 percent. The previous high was 3.9 percent in the fourth quarter of 2014.” Finance executive optimism in the manufacturing industry is now at 77 percent, up from 48 percent in 2016, while executive optimism in the retail trade has significantly jumped from 38 percent in early 2017 to more than 66 percent today. By Garry Boulard A project that will see the building of five floors on the top of an existing structure for homeless youth in Denver has won a new zoning designation. The nonprofit organization Urban Peak, which is dedicated to assisting Denver’s young homeless, several months ago said it wanted to build a facility that would include space for apartments, transitional housing, and offices. Now plans have moved forward for an add-on that will house 60 units for permanent housing, along with enough space for 40 shelter beds. Although members of the Platt Park People’s Association, representing a nearby neighborhood, complained that the proposed structure is too tall for the area, the Denver City Council ultimately voted in favor of a zoning change for the project. That change will take the site at 1630 S. Acoma Street from multi-unit residential to industrial mixed use. Designed by the Denver-based Shopworks Architecture, the project, in a neighborhood made up partly of residential housing, apartments, and warehouses, does not yet have a construction schedule. Urban Peak, founded in 1988, helps youths aged 15 to 24, transitioning them from homelessness to a more stable living environment. The organization provides both short and long-term housing, as well as educational programs and employment counseling. By Garry Boulard A move to build a new soccer stadium in El Paso has taken a significant step forward with the announcement that a professional soccer team will start playing in the city next year.
The El Paso-based Mountainstar Sports Group, which owns the El Paso Chihuahuas baseball team, says it has secured a franchise as part of the growing United Soccer League’s expansion campaign. Initial plans call for the new team, which doesn’t yet have a name, to play in the downtown Southwest University Park stadium at 1 Ball Park Plaza. But partly because the USL has set up a deadline of 2020 for all of its teams to be playing in their own stadiums, Mountainstar wants to see a new stadium built either in or near El Paso’s downtown. Earlier reports indicated that that stadium would have a seating capacity of up to 10,000. Mountainstar is now in talks with officials from both the city as well as El Paso County concerning the possibility of forming a partnership to make the new stadium a reality. By Garry Boulard Senate Democrats have unveiled a sweeping infrastructure bill calling for $1 trillion in spending on a variety of individual projects.
As proposed, the Democrat legislation will provide up to $140 billion for road and bridge projects, $115 billion for water and sewer infrastructure, $50 billion for public school rebuilding, and up to $40 billion on high-speed internet projects. Funding would also be secured to upgrade the nation’s water and sewer systems. Senate Minority Leader Charles Schumer has said that some of the funding for the infrastructure proposal could be achieved by imposing a tax rate of 39.6 percent on upper incomes, up from the current 37 percent. Schumer also said the nation’s corporate income tax could jump from the current 21 percent to 25 percent. “We want to roll back the Republican tax giveaways to big corporations and the very wealthy and invest that money instead in job-creating infrastructure,” Schumer said on the floor of the Senate. In February President Trump recommended a $1.5 trillion infrastructure plan that additionally called for $200 billion in federal seed money for infrastructure projects. That plan relied on increased state and local spending for such projects. By Garry Boulard |
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