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KENNESAW, Ga. | May 19, 2017

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The Georgia Construction Outlook Survey indicates that 86 percent of the state鈥檚 privately held construction companies project a revenue increase over the prior year. The survey, released on Tuesday, was conducted by Kennesaw State University鈥檚 Construction Management Department in cooperation with Bennett Thrasher, one of the country鈥檚 largest full-service certified public accounting and consulting firms.

The results were presented by Khalid Siddiqi, Chair of Kennesaw State University鈥檚 College of Construction Management, along with Tom Jollay and Scott Hazy, Bennett Thrasher鈥檚 Construction Practice Co-Leaders. Eighty-one companies responded to the online survey, the purpose of which is to provide specific benchmarking data of the state鈥檚 general contractors and subcontractors.

Other major takeaways from the survey include:

• Respondents reported an average gross profit margin of 11 percent. By comparison, the return on assets figure for a typical respondent in the 2016 Construction Financial Management Association鈥檚 national study was 9.0 percent.
• Respondents reported an average gross profit per full-time equivalent employee of $30,747.
• 87 percent of the companies surveyed said recruiting and retaining qualified individuals was their biggest business challenge.
• 73 percent of the 2,368 privately held construction companies in Georgia are located in metro Atlanta.
• 64 percent of the companies surveyed said they are a family-owned business and 66 percent of surveyed participants said they have a succession plan in place.
• The average ratio of Human Resources Directors per full-time employee is 1:51.

The survey also compiled data on compensation, including average salaries for all contractors:

• President/CEO: $177,435
• CFO: $156,333
• Controller: $85,947
• IT Manager: $95,714
• Project Manager: $80,286
• Sales/Marketing Manager: $81,100
• HR Manager: $67,313
• Estimator: $70,522
• Superintendent: $79,160
• Cost Engineer: $67,500
• Foreman: $52,621

For more information about the survey, please contact Bennett Thrasher Director of Marketing and Practice Growth Erinn Keserica at erinn.keserica@btcpa.net.

About Bennett Thrasher LLP 
Bennett Thrasher LLP is one of the country鈥檚 largest full-service certified public accounting and consulting firms. The firm creates significant value and a unique positive experience through collaboration鈥攚ith and between clients, partners, associates and the community. Founded in 1980 by Rick Bennett and Ken Thrasher, Bennett Thrasher today has a dedicated, experienced team of partners and associates who believe in creating value by working 鈥淏etter Together.鈥� For more information, please visit Bennett Thrasher鈥檚 website at .