Each year, Marcum surveys the national construction community, revealing key trends in construction. Then, our national results are further distilled to bring Ohio’s construction community an expanded edition centering on the issues most relevant to construction leaders in the Northeast Ohio region.
Spotlight on Ohio
With higher rates, inflation, strong backlogs, and stabilizing material costs and supply chains, there are a number of factors that local industry leaders will be watching closely into 2024. Overall, Ohio’s outlook is positive thanks to the Sherwin-Williams headquarters project, a spat of healthcare developments, and non-profit and museum construction contributing generating optimism about the year ahead.
How Ohio Compares
The most marked departures from the sentiment reported in the national survey can be seen in a lower overall number of bidders per job in Ohio, and a higher rate of respondents seeking work outside of their current geographic reach. That last deviation could be informed, in part, by rapid development along the I-71 corridor attracting the attention of developers and contractors alike.
Insightful Supplements
For a broader, densely detailed analysis of the local construction industry, including deep dives on succession planning, creative ways to address labor challenges, and a top-down look at the construction landscape from Marcum’s Chief Construction Economist, check out Marcum’s 2023 Northeast Ohio Construction Survey.
MARCUM'S EXPERIENCE
Our National Construction Industry Services group members are called upon to testify as experts in their field, are frequent contributors to professional trade publications and are sought after speakers on topics concerning long-term contract accounting by the AICPA and other organizations.
Among the country’s foremost experts on accounting, tax and business issues in construction, Marcum’s Partners and Directors are technical reviewers of the AICPA Audit Risk Alert, Construction Contractors Industry Developments, and the AICPA Audit and Accounting Guide for Construction Contractors.
