Horizons Spring/Summer 2021

INDUSTRY UPDATE CONSTRUCTION

The State of the Construction Industry Post COVID-19 By Ken Van Bree, CPA, CGMA & Matt Beerbower, CPA T he construction industry is strong and resilient and is used to weathering storms and recessions; however, how has the construction industry weathered a pandemic?

with uncertain project pipelines, health safety issues/disruptions, supply chain issues (including volatility in materials prices) and capital market fluctuations. Paycheck Protection Program (PPP) loans and other stimulus have certainly supported the business community and temporarily supported industries including construction; however, questions and uncertainty remain and will continue to present opportunities for the industry as it progresses into a post COVID-19 world (yes…opportunities).

The industry has remained essential in many locations throughout the country during the pandemic, and contractors have largely remained busy, albeit managing through significant uncertainty like everyone else and dealing with project delays and/or cancellations. Other challenges contractors have faced include social distancing on projects, managing cash flows and labor force

The State of the Construction Industry Post COVID-19

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