Friday, September 4, 2020

60% of All Construction Projects Delayed or Cancelled

Sixty percent of construction firms report future projects have been canceled or delayed, according to a workforce survey conducted by the Associated General Contractors of America (AGC).

In addition, 52 percent of firms that participated in the survey say they struggle to find craft workers during the pandemic.

In addition to the 60 percent of firms reporting at least one future project is postponed or canceled due to coronavirus, 33 percent report having projects already underway halted due to the pandemic. According to AGC, the percentage of firms reporting canceled projects has nearly doubled since the survey the association conducted in June, when 32 percent of respondents reported cancellations.

Further complications stemming from the coronavirus include 44 percent of firms saying it takes longer to complete projects, with 32 percent of firms saying it costs more to complete ongoing projects.

CLICK HERE to read the entire Pit & Quarry article. A fascinating read.

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