With backlog burning off and new sales in a prolonged slump, the vast majority of top contractors are feeling the full brunt of the recession this year. In an environment in which opportunities are limited, competition is fierce, and fees are slim, the best hope for many companies is that the market has bottomed out. However, rather than wait for a rebound, company executives are adjusting strategies to keep operations steady. Photo: Courtesy Of Southeast Louisiana Veterans Health Care System Large projects—like this $720-million VA hospital in New Orleans—are rare. Related Links: Environment: Treatment-Facility Work, Cleanups Bolster Sector Manufacturing/Telecommunications: Tough
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.