What emerging trends will drive investment and development in 2023?

I have learned during my 40+ years in the construction industry that meticulous and constant planning has always been a key factor in achieving project success, and profitability in business. However, now with labor and material shortages that are predicted to continue, proper planning is not only critical to achieving project success, and profitability, it could make the difference between staying in business or not. I have always considered my workforce to be my company’s most important asset. To protect and maintain that asset, construction companies need to provide that workforce with a competitive wage, steady work and a safe work environment. That has never changed and never will. However, given that supply chain issues and material shortages are the “new normal,” the days of walking into a supply house and expecting to walk out with the materials you need to complete a project are a thing of the past. Not having a sufficient, well-trained workforce and access to needed supplies in the middle of a project is a double whammy, which could toll the death knell for many a contractor in the upcoming year. As the saying goes, “Always be prepared!” It has more relevance now than ever.