In the modern world, Economic Development Agencies (EDAs) are playing a critical role in helping cities, states, and even countries reach their economic potential. Economic growth is what makes communities thrive by expanding a tax base and offering a quality of life for residents through employment, commerce, infrastructure, and entertainment. Business owners can benefit from EDA services and incentives to expand or start their business. The EDAs work with private funds, local foundations, schools, and government to name a few to match incentives that will keep or bring economic growth to their region.
SBA 504: Funding Business Growth with Less Capital
This blog is intended for small business owners who are looking to grow their business. Have you had a net worth under $15M and an average net income less than $5M for the past 2 years? Do you own your building or want to own your building? Are you still with me? If so, there’s a less risky way to fund your business growth, and the best part is that it’s meant to keep capital in your business so that you can support economic growth in your community.
You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills
Liens Can Wreak Havoc on Funding
By Brian Stadler, Wolgast CEO
If you haven’t built a building in the last couple of years, you may be surprised when your banker tells you that they want to hire a Title Company to handle all of your payments to not only the General Contractor, but also directly to the General Contractor’s second tier Sub-Contractors. On top of that, that they expect you, the owner, to guarantee to the Bank and the Title Company that the project will be lien-free during construction.
Benefits of Building an Athletic Fieldhouse for Your School
School Districts require a lot of coordination to make their multi-sports programs work seamlessly. For a while now, adding an auxiliary gymnasium onto the school building or a wrestling practice room that can double as a cheerleading practice space, has been the answer to make room for all teams to have needed practice space. Now, School Administrators are discovering that Athletic Fieldhouses, if they have space within their campus, are a better choice because they offer more flexibility for students and their community.
Preparing Your Business for a New Buyer
Bruce has owned his business for more than 30 years and he’s ready to retire. He is five years under the retirement age and has no interested children to take over this operation. He has poured his blood and sweat into his business for most of his life. Bruce has a few options. He can close the doors, walk away, and lay off his staff of 25, he can sell the business and the building to an interested party and use the money to supplement his retirement savings, or he can find someone who wants to buy the business and then lease the building to him or her, keeping rental income for continual cash flow.
What Are Design-Build Services?
Design-Build Construction is a project delivery method in which a building owner forges a single contract with one entity for architectural/engineering design services and construction services. Known as the Design-Builder, the entity becomes the single-source that is responsible for designing, hiring subcontractors, coordinating the schedule and building the structure on the client’s behalf. Wolgast offers a phased approach to identifying a client’s building scope, budget, schedule, final design, construction and warranty.
2023 Franchised Restaurants Design & Construction Trends
For Quick Service and Fast Casual Concepts
Many industries have had to make changes following the pandemic as they sort out the new way to best serve their customers and their adapted routines. The Restaurant industry has definitely had to make adjustments not only from people dining differently, but also from the labor shortage. The design and remodel of Restaurant structures and parking areas play a role in how they are accommodating their new challenges.
Remodel Your Commercial Office to Be More Modern
Easy Ways to Update Your Look
Who doesn’t want to be known for always having the most modern looking office, comfortable staffers, or the ability to attract customers because their place of business is so fresh and enticing? The problem, we understand, it’s cost prohibitive and not a great investment to complete a remodel every year to keep up with new trends. However, there are some classic and cost effective changes that can help set you up well for the future.
Wolgast Corporation Marks 75th Anniversary
Wolgast Corporation Marks 75th Anniversary!
Saginaw, MI - For the first 52 years, the Wolgast family owned and operated Wolgast Corporation. Started by Gerald Wolgast as G.H. Wolgast Masonry in 1948, his motto of “Do it right the first time, every time” has been his legacy that still steers the company today. Gerald’s sons, Lynn and the late Patrick and Mark Wolgast left their own legacy on the general contracting company by diversifying to include Design-Build and Construction Management services, helping start the local Associated Builders and Contractors Association Chapter, and forging a relationship with McDonald’s Corporation in the 1980s. Since then, we have built close to 300 new or rebuilt McDonald’s restaurants and remodeled nearly twice that many. The Wolgast brothers also chose to succeed their business to the employees and started the process of becoming an Employee-Owned Company in 2000. Soon after, they named Brian Stadler as President, marking the first time that a non-family member held such a key position.
Entering Retail Space as a Non-Retailer
(Updated 2/20/23) Retail real estate has shrunk over the past three years according to CBRE’s report “US Real Estate Market Outlook 2023”. With less retail construction happening, there is less opportunity for businesses to move into this type of space. Malls and retail centers that have been struggling in recent years are now finding opportunities by converting to mixed use.