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What's New: News Release

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 Conference.

"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 this group.”

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.

IMPACT’s primary 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. By 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 insurance.

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