Crain’s Cleveland Business reported on the 2023 Marcum Northeast Ohio Construction Survey and interviewed Partner Roger Gingerich
Crain’s Cleveland Business
By Stan Bullard
The annual Marcum survey asks contractors to rank the biggest threats to their business. Securing skilled labor remains the top concern, cited by 46% of respondents, up from 31% a year ago. Likewise, 9% of respondents see labor costs as the biggest threat, while just 5% saw that as a worry a year ago.
However, different concerns are gaining traction following the recent rise in interest rates and escalating material costs that spiked in the past few years. Banking, or tightened credit by banks, was cited as a worry by 10% of the respondents. That’s up from 5% a year ago.