Nearly 78 percent of Georgia’s privately held construction companies project a revenue increase over last year, per a recent survey conducted by CPA Bennett Thrasher in cooperation with Kennesaw State University’s College of Construction Management. About 67 percent of respondents also reported a higher project backlog from the prior year.
Other takeaways from the survey include:
- respondents reported an average gross profit margin of 9.33 percent, down from 10.5 percent last year;
- 83 percent of companies said recruiting and retaining qualified employees is their biggest business challenge; and
- 78 percent more contractors said they would explore “expansion of geographic reach” as a business strategy compared to last year.
Georgia contractors’ salaries were up an average of 5.2 percent, with presidents/CEOs making an average of $189,754 annually, while project managers made $81,042, estimators made $78,410, and foremen made $53,017.
