Northern Ontario contractors lead the province in positivity heading into the 2024 construction year, according to a survey from the Ontario Construction Secretariat. An abundance of mining and institutional both underway and on the books has 31 per cent of contractors in this region expecting more work. Nine per cent expect less. Heading into 2024, the business outlook of contractors province-wide cooled slightly from 2023.
This year, 26 per cent of respondents expected more business compared to 32 per cent in last year’s survey. Eastern Ontario contractors reported a large decline in business expectations, with only 21 per cent expecting more business in 2024, compared to 30 per cent last year. Top concerns in all regions are the availability of skilled labour and the rising costs to source that labour and construction materials. One in five open-ended responses to the survey cited increasing prices, whether it was for labour, materials, or higher interest rates. After that, material costs (28 per cent), labour costs (27 per cent) and transportation costs (25 per cent) were listed as the top concerns of the year. Supply chain issues are clearing up and the survey noted a growing interest in innovation and technology to increase productivity and lower costs
Source: News Formal (newsformal.com)
Northern Ontario Contractors Survey Construction Positivity Business Outlook Skilled Labor Rising Costs Supply Chain Innovation Technology
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