Nearly 60% of those surveyed by accounting firm Marcum in a recent poll of the construction industry say they expect more opportunity in the future, an increase over last year's 54%.

Marcum's annual national construction survey reveals that contractors are buoyed by the federal infrastructure bill and growing backlogs, with 69% saying the former will have a positive financial impact for their businesses. And nearly half are reporting higher backlogs than in 2021. 

"Broadly speaking, the construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by three familiar challenges—labor shortages, material costs and availability, and supply chain issues," said Marcum Partner Roger Gingerich, who leads the firm's Midwest construction practice. "Most respondents are positioning for growth and looking for ways to thrive in a very dynamic space. This includes an uptick in joint ventures, something we think makes sense given the difficulties in securing skilled labor and materials in a sector where there is both high demand and deep competition."