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2020-2021 Minnesota Construction Industry Assessment Released

FOR IMMEDIATE RELEASE: December 4, 2020
 
St. Paul, MN: Associated General Contractors of Minnesota today released the 2020-2021 Minnesota Construction Industry Assessment results. This annual survey solicits the input of contractor, material supplier, architect, and engineering firms in Minnesota regarding current and future trajectories of the commercial construction market.
 
“The results provide a surprising look into the forces that shaped the 2020 construction season and offer a glimpse of what the industry sees on the horizon,” says Tim Worke, CEO. “In spite of the strong headwinds the COVID-19 pandemic unleased on the broader economy, a majority of survey respondents have confidence that 2021 markets for construction services will trend positive.  This fragile confidence however is equally offset by a significant portion of respondents who see 2021 as troubling and foresee a forthcoming retraction in the marketplace.”
 
Key findings of the assessment:

 

  • Contractors report steady capability to adapt to COVID-19 challenges and safely manage their workforce
  • A large portion of respondents had projects delayed or cancelled, with most occurring in privately funded markets.
  • Respondents foresee growth in alternative energy construction markets, while commercial office, retail construction, and multi-family housing may see tougher times
  • Availability of materials and related costs weigh heavy on the minds of contractors
  • Many of the same workforce challenges identified in previous survey assessments persist, including workforce availability and skill training gaps.
 
To view the assessment, click here.
 
About AGC of Minnesota: 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.
 
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