{"id":89135,"date":"2023-06-16T08:00:00","date_gmt":"2023-06-16T12:00:00","guid":{"rendered":"https:\/\/retrofitmagazine.com\/?p=89135"},"modified":"2023-06-26T10:43:42","modified_gmt":"2023-06-26T14:43:42","slug":"engineering-ceos-are-optimistic-about-the-year-ahead","status":"publish","type":"post","link":"https:\/\/retrofitmagazine.com\/engineering-ceos-are-optimistic-about-the-year-ahead\/","title":{"rendered":"Engineering CEOs Are Optimistic about the Year Ahead"},"content":{"rendered":"\n

Engineering industry leaders expressed growing optimism for strong economic performance in the coming year, according to the\u00a02023 Engineering Business\u00a0Sentiment Survey<\/a>\u00a0released by the independent research arm of the American Council of Engineering Companies (ACEC).\u00a0<\/p>\n\n\n\n

Download your copy of the report\u00a0here.<\/a><\/p>\n\n\n\n

The survey from the ACEC Research Institute found the outlook for the overall economy is improving among the nation\u2019s leading engineering firms. Findings show the financial performance of individual firms continues to grow, and executives are reporting a growing volume of work driven largely by significant investments in the nation\u2019s infrastructure through the Bipartisan Infrastructure Law, the Inflation Reduction Act, and other initiatives.  <\/p>\n\n\n\n

\u201cToday\u2019s report is good news for our industry and good news for the nation\u2019s economy. The long-term federal investments in American infrastructure and manufacturing \u2013 advocated for by President Biden and supported by bipartisan majorities in Congress \u2013 are surely a large reason why these engineering leaders are so optimistic,\u201d\u00a0says ACEC President and CEO Linda Bauer Darr.<\/p>\n\n\n\n

\u201cAmerica\u2019s engineering industry serves a broad spectrum of our economy, from transportation and water to energy, housing, industrial and manufacturing facilities, health care and more. If these firms are busy now and hopeful for the future, that\u2019s a good indication that the broader economy is moving in a positive direction,\u201d\u00a0Darr continues.<\/p>\n\n\n\n

The analysis released by the\u00a0ACEC Research Institute<\/a>\u00a0found the outlook in water\/wastewater, industrial\/manufacturing facilities, and transportation particularly strong.\u00a0 While the outlook for certain sectors, such as commercial real estate and telecommunications, is down slightly from the first quarter, the sentiment among business leaders remains positive in these markets.<\/p>\n\n\n\n

Executives continue to express concerns over inflation and the potential for a recession, but these concerns continue to be overtaken by a broader sense of optimism across multiple sectors of the economy.<\/p>\n\n\n\n

Notably, firm executives report that workforce shortages continue to be a challenge for the industry, with over half of firms (56 percent) turning down work due to a talent pipeline that isn\u2019t keeping up with demand.\u00a0<\/p>\n\n\n\n

\u00a0\u201cWe need more engineers to do the work, and the industry is pushing for solutions, including a long-term effort through investments in STEM education and other initiatives to attract more inspired and innovative young people to pursue engineering careers,\u201d\u00a0says ACEC Research Institute Chair Mike Carragher.<\/p>\n\n\n\n

\u201cWe also need immigration policies that are better aligned to enhance the nation\u2019s competitiveness, such as making available more H-1B visas and green cards in the near-term to attract and keep the best and brightest from around the world who are graduating from our engineering schools,\u201d\u00a0Carragher adds.<\/p>\n","protected":false},"excerpt":{"rendered":"

Engineering industry leaders expressed growing optimism for strong economic performance in the coming year, according to the\u00a02023 Engineering Business\u00a0Sentiment Survey\u00a0released by the independent research arm of the American Council of Engineering Companies (ACEC).\u00a0 Download your copy of the report\u00a0here. The survey from the ACEC Research Institute found the outlook for the overall economy is improving<\/p>\n","protected":false},"author":95,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[201],"tags":[46747,9013,46748,233,42690],"ppma_author":[48795],"jetpack_publicize_connections":[],"yoast_head":"\nEngineering CEOs Are Optimistic about the Year Ahead - retrofit<\/title>\n<meta name=\"description\" content=\"The analysis released by the\u00a0ACEC Research Institute\u00a0found the outlook in water\/wastewater, industrial\/manufacturing facilities, and transportation particularly strong.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/retrofitmagazine.com\/engineering-ceos-are-optimistic-about-the-year-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Engineering CEOs Are Optimistic about the Year Ahead - 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