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Are there any potential expense increases anticipated in 2014 for the public refrigerated warehouse industry?
Question: Other than CPI estimates for costs impacting the cold storage industry, does GCCA have information regarding potential expenses anticipated across the industry, such as power cost or insurance?
Answer: The Lockton Companies are anticipating an average of 3% increases in insurance other than workers' compensation and benefits. For workers' compensation, it's recommended to budget close to a 10% increase. Benefits are more difficult to predict given the Affordable Care Act and its mandates; it is advised to defer to specific representatives on this issue.
Cascade Energy recommends reviewing the U.S. Energy Information Administration (EIA) for price changes in electricity over the past 12 months.
The EIA website also have some long-term projections for electricity price.
Answer provided by representatives of IARW Service Partners Cascade Energy and Lockton Companies.
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