For the past four years, Harding, Shymanski & Company has conducted an Ohio Valley Region Construction Market Survey in which we surveyed numerous contractors across varying disciplines and of varying sizes in the Ohio Valley Region. We would then stratify the results and provide the information our along with our own overview of the market. In early 2020, the construction market’s economic outlook in the Ohio Valley did not appear that it had changed much from the previous years. Our Construction Team decided that instead of surveying contractors in the Ohio Valley Region we would partner with LA Surety and Travelers Surety in order to provide robust benchmarking information for contractors. This information would offer a more diverse discipline aggregation and include more construction company participants.
Fast-forward to March of 2020, and the COVID-19 pandemic hit the Ohio Valley Region. This pandemic, which has now swept across the country, has completely changed the economic outlook of every industry nationally and regionally. The following report includes key benchmarking information from various industry disciplines, grouped by 10 different highly-competitive NAICS codes. Each NAICS code focuses on profitability and liquidity by revenue size. The report includes information derived from Sage ProfitCents financial benchmarking data mostly from 2019 and companies in the Midwest. While these data points could be much different from where contractors stand currently in June of 2020, we have provided an Executive Summary in which we share our views of where the market finished in 2019, and more importantly, where we believe things stand now.