Skoda Minotti has released the results of our 2015 survey of the Northeast Ohio Real Estate and Construction industries. How does your business compare to the overall industry trends?
Construction Survey Executive Summary
In a word, the respondents of the Northeast Ohio construction industry survey are feeling positive. The upward momentum reflected in our 2015 survey indicates that the vast majority of respondents are generally feeling optimistic about their ability to get quality work now and in the years ahead.
As we’ve slowly recovered, the Downtown Cleveland construction boom is keeping larger contractors busy, freeing up the playing field for other contractors. Contractors are seeing average job sizes increasing and the lending climate improving.
We’re now three full years into Ohio Construction Reform, and it continues to be met with mixed reviews. Some of the very challenges reform was intended to address are viewed by respondents with skepticism. The lack of skilled labor continues to be a considerable concern as well.
As the construction industry budget climbs back slowly but steadily to the trillion dollar range it should be in, we expect margins to improve—this is the reason people are more optimistic. We made one change in the 2015 construction industry report: we’ve included national construction industry figures and trends to provide a backdrop for our Northeast Ohio survey results.
The results of Skoda Minotti’s eighth annual survey of the Northeast Ohio Construction industry are now available for download. Learn more about how your business stacks up in this year’s 24-page summary reporct.