2020 Marcum Northeast Ohio Construction Survey

2020 MARCUM NORTHEAST OHIO CONSTRUCTION SURVEY

RECESSION ASSESSMENT Even before the pandemic, the Northeast Ohio construction industry was bracing for a potential recession. In fact, 44% of all regional survey respondents predict a recession in the next year, compared with 49% of national respondents. We asked which actions respondents were taking in preparation, and 86% of respondents report they are planning for a recession in some fashion. Managing cash flow and planning are the top two answers both pre- and post-pandemic, though the majority of respondents turned to planning once the virus became a factor. Contractors have had to turn their attention to ensuring safe jobsites, training workers on new protocols and providing uninterrupted service to customers. Actions spiked in every category among post-COVID-19 respondents.

We are most focused on improving profit margin s and retaining clients until we see the outcome of the 2020 election. “

Now that new tax laws are in effect, did you realize tax savings over the past year?

OHIO

NATIONAL

37%

Yes (positive)

38%

Yes (positive)

No (negative)

6%

14%

- post - pandemic respondent

No (negative)

20%

23%

No Impact

No Impact

26%

36%

I don’t know

I don’t know

15

14