Many contractors in the tristate region say that two factors will largely determine the industry's robustness in the year to come—the economy and the upcoming general election. They reason that until the economy gains momentum, owners and developers will not shake their wait-and-see attitudes; and, until the next Congress is elected, federal funding levels for agencies and programs will remain a mystery with many projects left in limbo. Even so, contractors in the tristate region say they expect next year to be similar to 2011 and 2012 in that work will be available, but the volume of projects will not likely match pre-recession levels, and competition for jobs will remain fierce.
The majority of the 50 largest contractors that responded to ENR New York's survey this year kept busy in 2011, posting year-over-year revenue growth in the region (see p. 27). Total 2011 regional revenue for the 50 firms climbed to $10.7 billion, up 15% compared with the prior year.