Ontario Construction Secretariat

April 14, 2010 17:34 ET

Construction Firms seek Infrastructure Stimulus deadline extension.

Construction firms want to see Infrastructure Stimulus deadline extended past March 31st 2011, according to province-wide survey of contractors.

Attention: Assignment Editor, Business/Financial Editor, City Editor, Media Editor, News Editor TORONTO, ONTARIO, NEWS RELEASE--(Marketwire - April 14, 2010) - Construction firms want to see Infrastructure Stimulus deadline extended past March 31st 2011, according to province-wide survey of contractors.

Today, the Ontario Construction Secretariat (OCS) released its 2010 Survey of Ontario's ICI Construction Industry report.
The Ontario Construction Secretariat's (OCS) annual province-wide survey of over 1000 contractors affirmed that 2009 was a tough year for many businesses. Nearly half of firms surveyed reported conducting less business in 2009, compared to a record breaking year in 2008. Regionally, those firms operating in Southwestern Ontario and the GTA were the most likely to have had a tough year in 2010.

Interestingly, about half of contractors surveyed indicated that the Infrastructure Stimulus dollars had no impact on their business in 2009. Contractors do, however, recognize the value of the stimulus package as a large majority (63%) want the stimulus deadline pushed beyond March, 31st 2011.

While 2009 was a rough year, contractors surveyed were more optimistic for 2010. In fact, roughly half of ICI construction contractors expect to conduct more work in 2010 versus 2009, while only about one-in-ten reported expecting to conduct less work this year.

The improved outlook is also expected to translate into more jobs in the ICI construction sector as three-in-ten firms expect to increase the number of people they employ this year versus only 10% who plan to decrease their workforce in 2010.

Looking across sectors, 42% of contractors expected to conduct more work in the commercial sector, versus 20% and 17% in the industrial and institutional sectors, respectively. On a regional basis, construction firms in the GTA are the most optimistic about new business opportunities in 2010, while those in Northern Ontario are the least upbeat about business prospects.

Above are some of the highlights of the survey. To obtain the full survey results, please visit the OCS website at www.iciconstruction.com. In addition to the above information, the report contains contractors' opinions and expectations about a wide variety of issues pertinent to the industry including construction costs, labour availability and access to credit. A profile of the ICI construction industry is also provided in order to give stakeholders an informed snapshot of the ICI sector.

The Ontario Construction Secretariat was established in 1993 under provincial legislation to represent the collective interests of the organized building trades unions and their signatory contractors in the Industrial, Commercial and Institutional (ICI) construction industry. The OCS, together with our labour-management-government partners, works to enhance Ontario's unionized ICI construction industry by developing relationships, facilitating dialogue, providing value-added research, disseminating information and promoting the value of unionized ICI construction.
For more information contact:

-30- /For further information: Rishi Sondhi
Construction Information Coordinator
rishis@iciconstruction.com
T: 416-620-5210 x222
/ IN: ECONOMY, FINANCE, LABOUR, MEDIA, POLITICS

Contact Information

  • Katherine Jacobs, Director of Research & Analysis, Ontario Construction Secretatiat
    Primary Phone: 416-620-5210 ext. 225
    Secondary Phone: 416-620-5270 ext. 222
    Toll-Free: 888-878-8868
    E-mail: kjacobs@iciconstruction.com