Building America 2.0: Seizing This One-in-a Generation Opportunity to Grow and Thrive
Bloomfield Hills, MI (October 24, 2023) – Season 2, Episode 17 of the Building Michigan podcast, hosted by Kevin Koehler, president of the Construction Association of Michigan (CAM), features a conversation with Alex Calderone and Patrick Bero of Calderone Advisory Group, a boutique financial advisory and litigation support consultancy based in Birmingham, Michigan. The conversation centers on the upcoming government stimulus bills and the unique opportunity that construction companies have to thrive and capitalize on the industry’s “once-in-a-lifetime market conditions that have never been this favorable,” according to Calderone.
Building America 2.0, Calderone explains, “is designed to denote a significant surge in governmental spending that Michigan is probably going to be able to capture more than its fair share of.” The surge is coming primarily from three governmental bills: The U.S. Bipartisan Infrastructure Bill, the Inflation Reduction Act, and the CHIPS and Science Act.
“The official estimates would tell you that there’s probably a trillion-and-a-half dollars, at least, of government stimulus that is going to flow primarily into the construction industry as a result of these bills,” Calderone said. Combined with tax credits that go along with it, “the cumulative impact of this is probably 2-3 trillion dollars, and Michigan is going to get a very significant chunk of that,” he said.
Contractors should be prepared. “It really is a sea change,” said Bero. “We’re looking at numbers that suggest the overall construction spend over the decade could be near double what the normal, organic activity would be.” Bero further explains, “The importance of this conversation now (particularly for contractors) is: What are you doing to prepare to capture that? What are you going to do now to make sure that your firm has the capacity to take on these jobs?”
Listen to this exciting episode of the Building Michigan podcast now.
The conversation continues at the following event. Registration is now open!
Building America 2.0: Seizing This Once-in-a-Generation Opportunity to Grow and Thrive
Thursday, November 9th | 8:00 a.m.-10:00 a.m.
Somerset Inn | 2601 W. Big Beaver Rd., Troy
This session is designed to equip Michigan’s construction industry leaders and enthusiasts with the insights and strategies needed to navigate the plethora of opportunities on the horizon.
Learning topics include:
* The argument for conversion of office space to hotels in Detroit
* Identifying and strategizing against potential risks and obstacles associated with the buildout of America 2.0
* An overview of governmental stimulus programs and how they will impact Michigan’s construction economy
* The favorable conditions supporting Metro Detroit’s industrial sector
CLICK HERE TO REGISTER
Part of the CAM Roundtable Series.
Podcast Information
Listen to this hot topic conversation and all of CAM’s “Building Michigan” podcast episodes at buildwithcam.com/podcast or on your favorite podcast platform.
Contact cam@buildwithcam.com for podcast sponsorship opportunities or with suggestions for future podcast topics. Each episode of the “Building Michigan” podcast, produced for Michigan’s construction industry by the Construction Association of Michigan, and sponsored by Priority Health, features current news and information regarding the latest construction techniques, methods and equipment, as well as economic updates and interviews with key people in Michigan's commercial construction industry.
Listen to Building Michigan
The Building Michigan Podcast features current news and information regarding the latest construction techniques, methods and equipment, as well as economic updates and interviews with key people in Michigan’s commercial construction industry.
