The COVID-19 pandemic has created disruption across the economy impacting businesses in every industry. It started in March with forced business closures and stay at home orders and has continued with modified operating rules issued by the state and Centers for Disease Control (CDC). While necessary to protect public health, it has resulted in one of the most challenging business climates in decades. Although each industry has been impacted differently, construction has not been immune to the fallout. Construction demand in Atlanta has dropped 12.3% with the largest declines coming in commercial, education, and infrastructure projects. Unfortunately, the trend is expected to continue until late 2021. Yet many Georgia construction companies are having issues finding both craft and skilled workers. The Associated General Contractors (ACG) 2020 Workforce Survey revealed an unexpected difficulty in attracting project managers, safety managers, and quality control personnel. The same challenge was also revealed with carpenters, laborers, and concrete workers. Considering the reduced demand, the findings have caught many by surprise. To help clients, prospects, and others, Wilson Lewis has provided a summary of key survey findings below.
The survey was conducted online between August 4th and 26th with over 2,000 firms participating nationwide including 65 firms from Georgia. Participants included businesses from a broad cross-section of the industry including both union and open shops with revenue ranging from under $1M to over $100M.
The survey results paint a somewhat optimistic picture of the future for Atlanta construction companies. As demand increases construction companies need to be properly positioned with human and financial resources to take advantage of new opportunities. If you have questions about the information outlined above or need assistance with a tax or accounting issue, Wilson Lewis can help. For additional information call us at 770-476-1004 or click here to contact us. We look forward to speaking with you soon.
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