DENVER (KDVR) — The construction industry in Colorado has been hit hard during the pandemic.
A new survey released on Wednesday by the Associated General Contractors of America and Autodesk Construction Cloud shows a good chunk of Colorado’s construction firms are still feeling the financial effects of COVID-19.
When asked, ‘How has your firm’s headcount changed as a result of the pandemic?’
At least 38% said they furloughed or terminated employees, while 25% said they added employees and 40% had no change at all.
In regards to the question, ‘What impact, if any, has the pandemic had on your firm’s projects?‘
A majority of firms (74%) said some of their projects have been halted, postponed or canceled. At least 50% of Colorado firms surveyed said their projects have taken longer than they anticipated.
“The coronavirus has also negatively affected many firms confidence in future demands for projects,” said Ken Simonson, Chief Economist at AGC (Associated General Contractors of America.
In the next 12 months, Colorado’s construction firms who were surveyed are split when it comes to how their headcount might change.
At least 26% of firms said they expect to furlough and or terminate employees, while 46% expect to recall and or add employees.
The survey features additional responses and questions.