The Ontario Construction Secretariat (OCS) 2024 Contractor Survey found plenty of ongoing and future projects have Ontario contractors hopeful for a busy year ahead.
While increasing materials and labor costs are still a big concern for Ontario contractors, about two-thirds of those surveyed expect positive business growth this year.
“There is a massive project pipeline in Ontario that is fueling positivity,” OCS chief executive officer Robert Bronk said. “Power generation, transit, and healthcare facilities are leading the list of projects currently under construction or slated for construction over the next few years in every region of the province.”
Sixty-five percent of respondents surveyed said hiring workers will be more challenging this year. About half of them (48%) said their biggest worry this year will be getting skilled workers on the job.
Nonetheless, 34% of those surveyed expect their workforce to grow in 2024.
“Despite a mostly positive outlook for ICI construction in 2024, the rising costs we are all facing remain a concern,” Bronk said. “But it is encouraging that despite this worry, there are still strong expectations for growth and expansion over the coming year, with many contractors implementing new technologies to help create efficiencies and support business success.”
More than eight in ten (83%) of respondents expect that adopting new tech will help them improve their businesses in the future. About 44% of respondents said they use BIM, and 43% use job site data collection apps.
