Do you have a Public Works project coming up that you are preparing a Bid Advertisement for? Did you know that the date you first advertise your Public Works projects will affect the overall cost of the project?
Each Public Work project is committed to a single Wage Determination that does not change for the life of the project. Some workers are entitled to pre-determined wage increases, but overall, the earlier you can lock in the Wage Determination, the less expensive your project wage costs will be.
Each year is broken into two sections:
- Period 1 are projects having a Bid Advertisement date between March 4th to August 31st.
- Period 2 are projects with Bid Advertisement dates between September 1st and March 3rd.
For example, if your project advertised on June 29th, 2023, the project Wage Determination Period would be 2023-1.
If you want your project to still squeeze into the last part of the 2022-2 Wage Determination period, get those Bid Advertisements out before Saturday, March 4th! These few dollars, per hour, per employee, over the course of a multiyear project can add up to significant sums and ultimately lower your entire project cost.
Interested in more Prevailing Wage tips? Contact our Manager of Labor Compliance Teresa Osso, at [email protected]
***Disclaimer*** All information presented is based solely upon experience, opinion, and research done. Information presented is not intended to be misconstrued as legal counsel.
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