Construction costs

Associated Builders and Contractors of Florida announced to its more than 2,500 member companies that they should expect to pay more than a 14.5 percent increase in their workers compensation rates beginning in December.

As a top five revenue generator for the state however, the industry remains concerned.

“When you experience a drastic increase in workers comp rates, the cost of the product goes up and the domino effects are sometimes too great both for the owners and for the individual companies to withstand,” said Rick Watson, chief counsel for ABC of Florida.

ABC of Florida has identified Workers Compensation Reform as its top legislative priority for the 2017 legislative session.

This story was originally published October 12, 2016 at 11:16 PM with the headline "Construction costs."