The 2025 NYS Construction & Real Estate Industry Conference, hosted by The Bonadio Group, brought together industry leaders, experts, and professionals to discuss key issues, trends, and strategies impacting the construction and real estate sectors. The event featured an impactful keynote speaker, engaging speed sessions, and discussions on the most pressing challenges and opportunities in the construction and real estate sectors. Below are some of the key takeaways in case you missed it.
Keynote Speaker: Leadership Lessons from Mike Minter
The conference kicked off with an inspiring keynote address from Mike Minter, former Carolina Panthers safety, current head football coach at Campbell University, and CEO of Minter Enterprises. In his presentation, “Blueprint for Successful Leadership,” Minter shared valuable insights on what it takes to be an effective leader in today’s ever-evolving business landscape.
Minter emphasized the importance of adaptability, resilience, and teamwork, drawing parallels between his experiences on the football field and the challenges faced in the construction and real estate industries. Key takeaways from his presentation included:
- Embracing Change & Innovation: Industries evolve, and leaders who adapt to new technologies, regulations, and market shifts will thrive.
- Building a Strong Team Culture: Success isn’t just about individual performance—it’s about empowering those around you and fostering a collaborative environment.
- Accountability & Discipline: Leaders must set high standards, hold themselves accountable, and be disciplined in their decision-making.
- Strategic Decision-Making: Like calling plays on the field, business leaders must anticipate challenges and make informed choices that drive long-term success.
Minter’s engaging and motivating session left attendees with practical strategies to enhance their leadership approach within their own organizations.
Speed Sessions: Expert Insights for Your Business
Following the keynote, the conference featured four speed sessions, each addressing crucial aspects of the construction and real estate industries. These sessions provided attendees with practical strategies to navigate market complexities, protect their businesses, and enhance financial performance.
1. Reinsurance Trends: How Your Premiums Are Impacted
Presented by: Gallagher – David Brockmann, Phil Scott, Hans Zimmer
This session focused on how reinsurance market trends influence construction and real estate insurance premiums and what businesses can do to mitigate rising costs.
- The State of the Reinsurance Market: Natural disasters in 2024, including hurricanes and wildfires, have led to increased reinsurance costs, which directly impact policyholders in construction and real estate.
- How Premiums Are Determined: Insurers are using stricter underwriting processes, meaning businesses with strong risk management practices may be eligible for better rates.
- Forecast for 2025: While premium increases are slowing, businesses should still anticipate continued high pricing, particularly in property and casualty insurance.
- Risk Management Best Practices: Companies can reduce costs by investing in enhanced safety measures, maintaining detailed claims histories, and leveraging risk management technology.
For construction firms looking to control costs, partnering with experienced insurance professionals and exploring alternative risk financing options were key recommendations.
2. Now is the Time to Protect the Future of Your Business and Safeguard Your Legacy
Presented by: Jamie Batt, Partner at Rupp Pfalzgraf
Succession planning is a critical but often overlooked aspect of business strategy. This session emphasized the importance of early and proactive exit planning to ensure a smooth transition when business owners decide to retire or sell. Key insights included:
- The Importance of Early Planning: Business owners should begin succession planning at least 5-10 years before they expect to transition ownership.
- Valuation & Financial Readiness: Understanding your business’s true market value is essential for structuring a smooth and profitable transition.
- Exit Strategies: Options include selling to a third party, transitioning to family members, implementing employee stock ownership plans (ESOPs), or merging with another firm.
- Legal & Estate Considerations: Owners must update their shareholder agreements, estate plans, and tax structures to ensure financial security for both the business and their families.
This session reinforced that succession planning isn’t just about selling a business—it’s about preserving a legacy and ensuring a smooth transition for future generations.
3. C&RE Tax Incentives: Maximizing Your Financial Benefits
Presented by: Jason Mollner, Managing Partner at Probity Tax Recovery
This session provided an overview of valuable tax credits and incentives available to construction and real estate companies, including:
- The Federal Research & Development (R&D) Tax Credit— The R&D Tax Credit is a federal credit that can offset income tax and in certain cases qualified small business payroll tax and alternative minimum taxes. This credit incentivizes companies conducting innovative work and can be claimed for activities that qualify under the four-part test, including developing new or improved products, processes, or software.
- Solar/Wind/Geothermal and other Energy Credits under the Inflation Reduction Act (“IRA”)— Ihe IRA (and many states, including New York) provides substantial incentives for commercial green energy investments. Most incentives equate to 30% – 60% of the investment, depending on the location, if Prevailing Wage and Apprenticeship requirements are met. In most cases, the credits can be transferred to unrelated third parties, allowing all businesses to monetize the credits.
- Prevailing Wage and Apprenticeship Requirements under Treasury Decision 9998— The prevailing wage and apprenticeship (PWA) requirements apply to internal and contracted (and subcontracted) laborers and mechanics that engage in construction, alteration or repair of a qualified facility. Everyone should be paid the applicable prevailing wage rates while performing work at the job site and every job site must have the required percentage of apprentices both internally and for work performed by contractors and subcontractors.
- The Federal Historic Rehabilitation Credit under 26 U.S. Code § 47— The Federal Historic Rehabilitation Credit provides a 20% income tax credit for the rehabilitation of certified historic structures. This credit is available for income-producing properties listed on the National Register of Historic Places or certified as contributing to the significance of a registered historic district.
- New York (And Other State) Historic Rehabilitation Credits— New York State offers a tax credit equal to 20% of qualified rehabilitation expenses for historic commercial properties listed on the National Register of Historic Places or located in a registered historic district. Most other states offer similar programs as well.
- Historic Preservation Easements— Preservation easements are legal agreements that protect historic properties by restricting changes that can be made to the property. These easements can provide tax benefits to property owners who donate them to qualified organizations.
For businesses in the construction and real estate industries, understanding and leveraging these tax credits can improve cash flow and enhance profitability.
4. Mastering Cash Flow in Construction and Development
Presented by: Jay Jerose, Partner at The Bonadio Group
Cash flow is one of the most critical factors in the success of construction projects and real estate development. This session focused on:
- The Difference Between Budgets and Cash Flow Forecasts: Traditional budgets are static, while cash flow forecasting should be dynamic and regularly updated based on project performance.
- Scenario-Based Planning: By modeling best-case, worst-case, and most-likely scenarios, businesses can make more informed decisions and mitigate financial risks.
- Short-Term vs. Long-Term Forecasting: Short-term cash flow planning ensures liquidity for daily operations, while long-term forecasting helps businesses plan for expansion, acquisitions, or large-scale projects.
- Managing Working Capital: Firms must carefully monitor receivables, payables, and financing strategies to maintain healthy cash flow.
For developers and contractors, mastering cash flow forecasting is essential for avoiding delays, securing financing, and ensuring project profitability.
A Special Thank You to Our Sponsors!
The Bonadio Group extends a sincere thank you to our sponsors (Gallagher, Rupp Pfalzgraf, LLC, ADMAR, ADP, M&T Bank, MS Consultants, LLC, Probity Tax Recovery, and High Probability Advisors) for their support in making the 2025 NYS Construction & Real Estate Industry Conference a success!
Their contributions helped bring together industry experts, facilitate important discussions, and provide valuable insights to attendees.
Additionally, we are proud to share that $3,000 was donated to Habitat for Humanity, Capital District, reinforcing our commitment to giving back to the community and supporting causes that make a difference.
We appreciate everyone who attended and look forward to another impactful conference next year!
If you need further guidance or have any questions, we are here to help. Please do not hesitate to reach out to discuss your specific situation.
This material has been prepared for general, informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Should you require any such advice, please contact us directly. The information contained herein does not create, and your review or use of the information does not constitute, an accountant-client relationship.
