An interim rule issued on July 8 by the Obama Administration requires certain federal contractors to report the total compensation of their highest-paid executives and first-tier subcontractors’ top managers. The requirement will phase in through March 2011. The rule also requires federal contractors grossing $300,000 or more in the last tax year to report first-tier subcontract awards. That mandate took effect immediately.
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.