On May 16, 2014, the Construction Advancement Foundation (CAF) awarded Graycor Industrial Constructors the 2014 Industrial-Capital Project of the Year for work on NIPSCO's Wet Flue Gas Desulfurization (WFGD) project. For this job, Graycor provided self-performed construction services on Units 14/15 at NIPSCO's R.M. Schahfer Generating Station in Wheatfield, Indiana. The environmental retrofit project lasted from 2011 until final completion and system startup in December 2013. With the new upgrades that were installed, the R.M. Schahfer Generating Station is now among the cleanest coal-fired electric generating facilities in Indiana.
According to the CAF, entries for the Project of the Year award were judged according to the following criteria: "excellence in partnering and teamwork, quality in project management, innovation and uniqueness in construction techniques, sympathy for the environment and its surroundings, character and value that was added to the community, and craftsmanship." In addition to recognizing well-executed projects, awards were also presented to owners for achievements in safety, innovation and leadership. In total, more than 600 construction professionals were in attendance at this year's awards banquet to celebrate achievements from the past year.