The Top 500 Design Firms Start to Rise Above Economic Woes
After four years, it appears the U.S. construction market has bottomed out and is beginning the slow climb out of recession. For many large U.S. design firms, this development is cause for both relief and celebration. But for other design firms, particularly in the public infrastructure markets, uncertainty about the future remains a constant.
The signs of the recession’s end can be seen in ENR’s Top 500 Design Firms list. The Top 500, taken as a group, had overall design revenue of $85.06 billion in 2011, up 6.6%, from $79.82 billion in 2010. This marks the first time in three years the Top 500 experienced revenue growth for the year.
On the domestic side, the picture is not as rosy. The Top 500 did see a gain in revenue from projects in the U.S., but the gain was only 1.6%, to $58.62 billion in 2011 from $57.87 billion in 2010. This is a far cry from the record $68.14 billion in domestic design revenue generated in 2008. The international market showed it is a growing destination for the Top 500 as revenue from projects outside the U.S. rose 20.4% in 2011 to $26.44 billion.View Article