The Orange County Register - Subcontractors Lost as Much as 21% of Business in ‘09

February 18, 2010

Subcontractors lost as much as 21% of business in ‘09
 
Jan Norman
February 18th, 2010, 11:52 am
 
Private construction subcontractors lost as much as 20.7% of their business in 2009 as the real estate slump stretched into a third year, according to financial data of private companies analyzed by Sageworks Inc.
 
Here are losses broken down by type of subcontractor:
Source: Sageworks Inc.
 
Primary home builders and general contractors were not included in this chart. Sageworks compiles financial data on private companies for financial institutions and accounting firms.
 
While new-home subcontractors felt the downturn sooner than others in the construction industry, every sector was impacted by 2009. Residential remodelers were least affected.
 
The losses might continue this year in Orange County at least. Jeff Collins reports on the Register real estate blog that Orange County homebuilding permits are up but nonresidential construction is projected to decline and another 7,000 local jobs could be lost.

 
 
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