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Wed December 21, 2022 - Midwest Edition #26
Associated General Contractors of Minnesota released the 2022-2023 Minnesota Construction Industry Assessment results. This valuable tool provides a unique snapshot of the projected Minnesota construction market, construction business challenges and other influences that impact the architect, engineering and construction (AEC) economy. There are countless survey tools being solicited across the industry, but only the AGC Industry Assessment covers the entire AEC spectrum and focuses exclusively on the construction discipline, according to the association.
"Overall, there is less optimism that market demand for construction services will remain strong in 2023 due to persistent inflationary headwinds, a continued lack of workforce availability and stubborn supply chain challenges," said Tim Worke, CEO. "Labor costs continue to lead as the top negative factor affecting businesses, while project funding and technology advances are the top positive indicators."
Key findings of the assessment:
For more information, visit agcmn.org.
Organized in 1919, AGC of Minnesota is the first recognized chapter of the Associated General Contractors of America. The association is a trusted resource for information dissemination, labor relations, education and training and for advocacy on important industry-related issues.
The diverse and collective knowledge of AGC of Minnesota is powerful and impacts the building and highway construction industries throughout the state.