While disrupted supply chains, soaring material and labor costs and rising interest rates have hurled construction into choppy economic waters the last several years, the MidAtlantic’s specialty construction firms are starting to get their sea legs again.
With a four-decade record of reliability and the knack to make major projects succeed, Everett, Wash.-based Valley Electric has become the go-to electrical contractor for large-scale, hard-bid projects in the Pacific Northwest.
Despite industry-wide challenges from labor shortages and frustrating supply chain snags, most specialty contractors across the West Coast saw revenue gains in 2022.
The specialty construction market continues to grow in the U.S., adding more than 600,000 positions nationwide since 2020, according to the Associated Builders and Contractors Association.
Regional subcontractors are navigating the highs and lows of a busy post-pandemic construction environment, growing exponentially while battling continuing labor and supply chain challenges that call for creativity alongside cautious optimism.
Rising material costs, a never-ending labor shortage and inflation still have not conspired to keep New York and New England specialty firms from growing revenue.
Despite recession fears and high interest rates as well as supply chain delays and continuing labor shortages, specialty contractors in the Southwest are applauding last year’s productivity levels and anticipating a continued burst of activity through 2023.