Construction and Trades
ABOUT THE CONSTRUCTION INDUSTRY
According to Global Data, the U.S. construction market size value in 2022 was $2.1 billion. It is expected to achieve an average annual growth rate of more than 4% during 2024-2027. The industry’s growth will be fueled by investment in the energy, transportation, housing, and manufacturing sectors. Residential construction, which includes multi-family housing, led the U.S. construction market in 2022.
Construction markets in the Northeast, specifically Connecticut and New York, are rebounding from the negative impacts of COVID-19. Projections for state GDP growth in this sector are 3.8% and 3.2% respectively. Builders and associated trades within this sector will benefit from advisory and financial forecasting services to optimize profitability.
CironeFriedberg has an experienced team in place to handle the unique needs of builders and businesses in the construction trades. We help our clients provide quality financial statements to lenders to assist them with their financing needs. Our experienced CPAs stay up-to-date and informed on complex and constantly changing tax and audit regulations. We’ve got your back.
TAX, ACCOUNTING, & AUDIT SERVICES
- Audits, reviews & compilations of financial statements
- Financial forecasts, cash flow analysis & projections
- Outsourced Accounting, CFO, and Controller
- Internal controls review and design
- Cost allocation
- Federal and state tax planning
- Employee Retention Credit (ERC) eligibility
- Revenue recognition
- Valuation services
FOR MORE INFORMATION PLEASE CONTACT
TONY CIRONE, CPA; DAVID MOSEMAN, CPA; OR NICK DAPAZ, CPA
STAY INFORMED. READ OUR ARTICLES CONSTRUCTION COMPANIES: RECOGNIZING REVENUE UNDER ASC 606 AND ARE YOU CONCERNED YOUR CONSTRUCTION COMPANY IS UNDERCAPITALIZED?
