2022 Marcum Northeast Ohio Construction Survey

Unsurprisingly, material price volatility remained the #1 political issue for construction company executives, followed by healthcare and insurance costs, which also mirror the prior year. Income taxes was #3, as it was last year. Taxes have been a top pick for every year of the survey, with one executive saying, “our greatest challenge is to manage our profit with optimum tax savings.” Marcum has deep expertise in tax advisory services and can help ameliorate tax challenges. For one example, see our sidebar on R&D tax credits in this report. This is well worth a read, as just 37% of respondents are leveraging this dynamic and flexible credit. Workers’ compensation rounded out the top four. Environmental concerns fell from #4 last year all the way to #8 this year, which we think could be based on the Biden Administration running on an aggressive environmental platform followed by a realization in the past year that its most ambitious plans have not come to fruition. Another change likely driven by current events is union issues moving up to #5, far ahead of where it was nationally (#9). We think this could be because collective bargaining agreements are coming due during a time of extreme labor tightness. Another political issue that touches the construction industry is the federal infrastructure bill. While most respondents expect it a positive impact, few believe it will have a significant positive impact on their company. This is in line with national results, and tracks with fewer companies being directly involved in that part of the construction market. POLITICAL PRIORITIES

2022 MARCUM NORTHEAST OHIO CONSTRUCTION SURVEY 34