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 | Mar 22, 2021
Think tank offers plan for new approach to reduce neighborhood poverty
Strategy uses more targeted approach to invest in low-income areas.
Codes and Standards | Mar 19, 2021
California city bans construction of new gas stations
Existing stations will not be allowed to add more pumps.
Codes and Standards | Mar 18, 2021
Congressmen ask Biden to tackle rising lumber costs
Rising materials costs and supply shortages threaten economic recovery, housing starts.
Codes and Standards | Mar 16, 2021
Massachusetts bill would mandate rooftop solar on new homes, commercial buildings
Proposed Bay State mandate modeled on California’s.
Codes and Standards | Mar 15, 2021
Nevada may create areas for tech companies to form own governments
Legislation calls for ‘Innovation Zones’ that could become smart cities.
Codes and Standards | Mar 11, 2021
Los Angeles commits to carbon-free city buildings
City will take into account embedded carbon when contracting to buy construction products.
Codes and Standards | Mar 10, 2021
‘Smart retrofitting’ will be crucial to net zero aspirations
AI, analytical software, Internet of Things are keys to decarbonization of built environment.
Codes and Standards | Mar 9, 2021
Salt Lake City is first jurisdiction to adopt new standards for off-site construction
Code Council and Modular Building Institute developing standards and compliance protocols.
Codes and Standards | Mar 8, 2021
Hyperlocal zoning could spur more affordable housing construction
Letting blocks and streets pass their own rules could have impact.
Codes and Standards | Mar 5, 2021
Biden builds on Trump’s “Buy American” order
New administration extends preferences for domestic construction materials.