2020 Marcum Northeast Ohio Construction Survey

2020 MARCUM NORTHEAST OHIO CONSTRUCTION SURVEY

GROWTH OPPORTUNITIES After a slight drop in optimism regarding growth opportunities within and outside of Northeast Ohio in 2019, 53% of respondents predicted more opportunities within the region in 2020, an 8% increase over the previous year. Interestingly, the same percentage of national respondents predicted growth opportunities within their regions. Our pre- and post-COVID-19 comparison tells the full story. Without the pandemic, optimism for opportunities within the region would have tracked closer to 60%. Optimism among post-COVID-19 respondents drops to just 36%. We see greater consistency in respondents’ optimism for growth outside the NE Ohio region with no change year over year or pre- and post-COVID-19, indicating that optimism prevails. Respondents were invited to provide comments about their growth opportunities. Several are focusing on improving their profit margins.

We believe that as long as firms work with their internal teams and professional advisors to address labor safety issues and material sourcing, and have a pandemic plan in place, they will come out of this in good shape.

- JOSEPH NATARELLI MARCUM LLP

 In the next 3 years outside your region, do you see your business having:

OHIO

NATIONAL

More opportunities Same amount of opportunities

More opportunities Same amount of opportunities

50%

46%

40%

42%

14%

8%

Fewer opportunities

Fewer opportunities

 In the next 3 years in your region, do you see your business having:

NATIONAL

OHIO

53%

More opportunities Same amount of opportunities

More opportunities Same amount of opportunites

53%

32%

38%

15%

9%

Fewer opportunities

Fewer opportunities

Growth opportunities exist but need to be cultivated over time and carefully. We are pursuing slow growth both through increased volume with existing clients and by acquiring select new clients . - post - pandemic survey respondent

marcumllp.com

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