New types of funds to help union contractors compete more effectively against non-union firms are known as what?

Industry promotion funds are specifically designed to support union contractors in enhancing their competitiveness against non-union firms. These funds are aimed at promoting the benefits and successes of unionized labor in the construction industry. By funding initiatives related to marketing, training, and improving operational efficiencies, these funds help union contractors to showcase the value of their work and potentially attract more business.

In this context, education funds, healthcare funds, and PAC funds serve different purposes. Education funds typically focus on providing training and development opportunities for workers, which, while beneficial, does not directly address competitive positioning against non-union firms. Healthcare funds are related to providing health benefits, ensuring workers' well-being, but do not contribute to the competitive landscape in the same way industry promotion funds do. Political Action Committee (PAC) funds are utilized for political campaigning and advocacy efforts rather than direct market competition strategies. Hence, industry promotion funds are distinct in their role of enhancing competitiveness among union contractors.