Marcum Survey: Construction Contractors Remain Optimistic
Construction contractors remain cautiously optimistic a year after the industry’s post-pandemic comeback gained traction, according to the 2022 Marcum National Construction Survey. Contractors surveyed by Marcum LLP reported being buoyed by the federal infrastructure bill, growing backlogs and other tailwinds.
Among this year’s key findings, nearly 60% of respondents said they expect more opportunity in the future, up from 54% in 2021. Sixty-nine percent expect the Infrastructure Investment and Jobs Act to have a positive financial impact for their businesses.
The industry’s upbeat outlook is also supported by a significant increase in backlogs, with 48% of respondents (up from 29% in 2021) reporting higher backlogs than last year.
“Broadly speaking, the construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by three familiar challenges – labor shortages, material costs and availability, and supply chain issues,” said Roger Gingerich, who leads Marcum’s Midwest construction practice.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).