Last week, ACEC Ohio members participated in an Industry Roundtable with AIA and AGC Ohio hosted by The Ohio Facilities Construction Commission (OFCC). The virtual roundtable meeting was to discuss market conditions, economic forecasts, and trends that may last beyond the pandemic. Each organization was asked to share insights from a national, regional and state perspective.
In general, OFCC shared Ohio revenues and expenditures which show August general revenue funds were $116.2 million or 3.2% below estimate. In addition, the capital appropriations which were approved by the Ohio General Assembly in June are the lowest the agency has received in 10 years. (Click here for OFCC slides)
ACEC Ohio shared information from the Q2 Private Industry Brief (Click here for ACEC Ohio slides) along with insights from our member attendees including project delays, municipal funding concerns and economic outlook for their companies. Overall, the industry feels that in 2021 many market sectors will see a downturn and may not see a recovery until 2023-2024. As shown in this chart, any of the sectors that rely on bringing people together will suffer such as office space or private education but those sectors needed during the pandemic such as communication, safety and transportation are seeing an increase in construction spending.
OFCC reiterated they are committed to collaboration with the industry and look forward to individual meetings with ACEC Ohio moving forward.
As always, if you have any questions please feel free to contact me.
~Beth