DiCicco, Gulman & Company LLP (DGC) has released its 2013 Architectural Study and complementary 2013 Engineering Report. Findings showed that after three years of slow but continuing improvement, architectural and engineering firms are healthier now than at any time since the start of the great recession.
The Architectural Study and the Engineering Report benchmark financial performance and other key indicators based on input from over 40 national firms headquartered in the greater Boston area. The study, conducted annually, contains some of the most comprehensive financial data available on the architectural and engineering industries.
Online versions of both documents can be found at:
http://www.dgccpa.com/practice-areas/commercial/architectural-and-engineering-firms/architectural-study/
"Nearly every firm surveyed did better in 2012 than they did in 2011," said Chad DaGraca, a partner in DCG's A&E practice.
While the report shows an increase in profits, perhaps more significant is the fact that firms also increased hiring, made investments in infrastructure and saw continued growth in the volume of their business. "These are signs of a true recovery," DaGraca says.
One reason for the improvement is renewed activity in the private sector. Many companies—including a good number of the Fortune 500—have been loosening their purse strings and investing in new buildings and facilities. "Companies are spending money because they have more confidence in the overall direction of the economy," he says.
At the same time, the residential housing market has stabilized and is improving in certain markets across the country. With more work to be found in the housing sector, firms that were forced to bid on other types of projects are increasingly returning to their normal line of work.
The 2013 Architectural Study and the 2013 Engineering Report highlight the firm's expertise and in-depth knowledge of the architecture and engineering professions. DGC experts analyze financial data from prominent firms in the Greater Boston region, focusing on operational performance metrics and identifying emerging trends.