IMPACT and SFAA Sign Partnering Agreement to Aid Emerging Ironworker Contractors
Tuesday, February 12, 2013
FEBRUARY 13, 2013, WASHINGTON, D.C. —The Surety & Fidelity Association
of America (SFAA) and the Ironworker Management Progressive Action Cooperative
Trust (IMPACT) are proud to announce a strategic alliance designed to increase
diversity in the ironworking sector of the construction industry by facilitating
access to bonding opportunities and technical assistance for small and emerging
contractors. SFAA and IMPACT signed the agreement this week during a special
ceremony at the 2013 North American Iron Workers/IMPACT Labor-Management
"SFAA is dedicated to increasing
diversity and supporting the growth and sustainability of small and emerging
contractors through greater access to bonding and credit,” said SFAA President
Lynn M. Schubert. "Since small businesses are the engines of job generation,
the ironworking industry will benefit from the cutting-edge programs and
opportunities created through SFAA’s partnership with IMPACT.”
In addition to bonding opportunities and
technical assistance, the partnership between IMPACT and SFAA seeks to provide
informational and educational support to emerging contractors. "As a 47-year
veteran of the ironworking and contracting industries, I know how important
educational tools are to survive and thrive,” said Bill Brown, IMPACT
Management Co-Chairman and President of Ben Hur Construction Co. in St. Louis.
"This partnering agreement marks an important step in expanding services to
As part of the partnering agreement,
IMPACT and the SFAA will:
Jointly develop and support programs and activities which will
have a significant impact on the increased integration of ironworking
contractors into the construction industry and provide these entrepreneurs with
the skills and access to bonding and finance necessary to enhance their
opportunity for success in the marketplace.
Facilitate access to bonding opportunities and technical
assistance for ironworking contractors through informational and educational
activities tailored to the needs of these firms.
Increase access to surety bonding by small and emerging companies
involved in the ironworking sector of the construction industry.
"One of our goals as a joint
labor-management partnership is to serve as a catalyst for entrepreneurial
activity,” said Walter Wise, IMPACT Labor Co-Chairman and General President of
the Iron Workers.
mission is to promote the growth of the union segment of the ironworking
sector, while SFAA performs a leadership role in promoting and preserving the
use of fidelity and surety bonds to protect public and private interests.
developing this sector together, IMPACT and the SFAA will benefit the entire
construction industry by creating productive jobs and increasing the
availability of competitive small and emerging contractors and subcontractors.
About IMPACT: The Ironworker
Management Progressive Action Cooperative Trust (IMPACT) is an independent
labor-management partnership designed to create work opportunities in the North
American ironworking industry. Our primary mission is to provide a forum
for Ironworkers and signatory contractors to discuss effective strategies to
expand job opportunities through innovative labor-management cooperative
programs. IMPACT provides expertise in training, construction
certifications, marketing, construction project tracking and bidding, insurance
and Davis-Bacon compliance efforts. IMPACT also administers a world-class
substance abuse program to ensure that Ironworkers are safe, drug-free and
ready to work.
About SFAA: The Surety & Fidelity Association of America
(SFAA) is a trade
association of more than 450 insurance companies that write the vast majority
of surety and fidelity bonds in the U.S., is a licensed rating or advisory organization in all states, including
the District of Columbia and Puerto Rico, and is designated by state insurance
departments as a statistical agent for the reporting of surety and fidelity
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