Navigating the post-pandemic engineering industry

When the COVID-19 pandemic struck the United States, the engineering industry took a big hit. Thousands of jobs were temporarily put on hold and projects struggled to acquire funding as the world went into chaos. It’s estimated that engineering and design services fell an 7% in 2020, according to the latest ACEC report.

Now, over a year later, we’re still learning how to navigate the changes to the industry. Luckily, ACEC has put together some resources as well as predictions for what to expect in the coming years.

Increased demand for construction projects

In 2021 and beyond there will be an increased demand for construction projects in the commercial building sector. Many offices are bringing their employees back following a work-from-home structure. This is good news for engineers and construction workers because it means there will be plenty of projects to keep them busy.

Low interest rates

Low interest rates have swept the nation, causing an increased demand for housing and new construction projects. Not to mention, the unprecedented amount of stimulus money released into the economy could increase the cost of building supplies. If we stay on the path to economic recovery, rates continue to increase over time. Things are looking a bit inflated at the moment.

Modernizing America’s infrastructure

President Biden has placed infrastructure development high on his agenda with the passage of a $1.9 trillion plan to modernize America’s infrastructure. This plan aims to encourage long-run economic productivity following the COVID-19 pandemic.

Non-building construction will grow by 3.1% in 2021 and then 6% on an annual basis, according to Moody’s Analytics. The Biden administration’s major infrastructure plan would increase those numbers to double-digits! It’s exciting to think about these numbers and the type of job growth and future projects they could bring.

Remain vigilant toward COVID-19 testing

Although nearly 40% of the U.S. population is vaccinated against COVID-19, we must remain vigilant to the spread of new variants. Continue testing your workforce and encourage mask-wearing at networking. and other social events. The easier we make it for the virus to spread and mutate, the further we are from achieving the nationwide goal of herd immunity. Many construction companies are requiring vaccinations and regular COVID testing to keep their job sites safe.

You can count on us to stay abreast of these and other industry changes. If you haven’t joined ACEC Utah yet, invest in a membership and start reaping the rewards today.