In October, Meaden & Moore's Construction and Real Estate Group hosted its annual Construction Industry Economic Outlook event, featuring insights from FMI, a leading consulting and investment banking firm dedicated exclusively to the built environment. Held at Ken Stewart's Lodge in Bath, Ohio, the event offered clients and colleagues of the firm an opportunity to gain valuable insights into the economic factors shaping the construction industry today.

The evening began with networking over heavy hors d'oeuvres and cocktails, allowing attendees to connect and share their experiences within the industry. The presentation was led by Nelson Newman, an experienced Consultant at FMI, who covered key topics affecting the construction sector:

Current Economic Outlook by Sector: Nelson highlighted trends across various construction sectors and market dynamics specifically impacting Northeast Ohio, giving attendees a clear picture of where the industry stands and where potential growth opportunities may lie.

Labor Productivity, Retention, and Development: With labor shortages continuing to challenge the industry, Nelson discussed strategies for improving productivity, emphasizing the importance of talent retention and development to ensure a strong, sustainable workforce.

Ownership Transition and Succession Planning: Finding the right approach for ownership transition and management succession remains critical for long-term stability. Nelson shared insights into strategies to ensure successful succession and secure the future of construction businesses.

Technology and AI in Construction: The impact of technology and AI is rapidly transforming the industry. Nelson explored how innovations are being applied to streamline processes, reduce costs, and create new efficiencies.

At Meaden & Moore, we are dedicated to being your partners in education, keeping you abreast of topics that impact your business and personal financial landscape.

If you have additional questions or would like more resources related to the construction industry, feel free to explore our dedicated resources or contact us directly.

Thank you to everyone who attended! We look forward to seeing you again at our future events.

View the presentation here.

Catch the highlights from the event by watching the video below!