A survey of the construction industry by Prairie Capital Advisors, Inc., found that 67.6% of respondents had not seen their Employee Stock Option Plan (ESOP) significantly impacted by COVID-19.
The investment bank tracks this data because many of its construction industry clients have decided on an ESOP as part of their ownership transition strategy. The survey also found that the pandemic has caused 50% of respondents to experience project profitability decreases in 2020 as a result of the pandemic.
About 44% noted no change in profitability in 2020. More than 60% of respondents reported that they plan to make investments in 2021, including in training, technology, and equipment.
More than half of survey respondents reported their biggest operational concern for 2021 was increased competition. Some 71% of companies surveyed said the result of the Presidential election would have no impact on their business opportunities.
Related Stories
Codes and Standards | Feb 12, 2019
Property technology adoption accelerates in commercial real estate industry
New business models create disintermediation.
Codes and Standards | Feb 11, 2019
Investing in downtowns pays off for cities, regions
Benefits include driving tax revenue, business activity, and smart development.
Codes and Standards | Feb 8, 2019
Oslo, Norway’s downtown goes virtually car-free
Parking spots converted to bike lanes, transit is fast and easy.
Codes and Standards | Feb 7, 2019
New North Carolina energy code has extensive lighting control requirements
Includes automatic shut offs for buildings of all sizes.
Codes and Standards | Feb 6, 2019
Solar carports can help with California’s Title 24 mandates
Can be combined with virtual net-metering software and tax-enabled financing.
Codes and Standards | Feb 5, 2019
Milwaukee board approves rezoning for Western Hemisphere’s tallest mass timber building
Mixed-use tower would rise 21 stories high.
Codes and Standards | Feb 1, 2019
Mass. governor proposes real estate transfer fee hike for climate resiliency projects
Opposed by real estate and trade groups, plan could generate $1 billion in next decade.
Codes and Standards | Jan 31, 2019
New York City will reform construction bid process
Streamlined process intended to improve efficiency, reduce hassle for bidders.
Codes and Standards | Jan 30, 2019
New AGC program aims to diversify construction workforce
More diversity needed to keep pace with demand for workers.
Codes and Standards | Jan 29, 2019
Registration now open for LEED v4.1 for New Construction and Interior Spaces
Emphasizes human health and integrative building design.