RECAP: Industry Recruitment, Economic Trends Discussed This Spring

SMACNA Greater Chicago is proud to help members prepare for success by offering a variety of meetings and educational programming through the year. Every other month, we gather at Gibsons Bar & Steakhouse for our regular membership meetings, where we invite industry leaders to speak on trends and topics affecting our businesses.

MARCH 12 MEETING

Angie Simon has been a trailblazer and passionate advocate for women in the construction industry for more than 30 years. She is the past president and CEO of Western Allied Mechanical, the first female president of SMACNA National and has continued to change the industry through her leadership of the Heavy Metal Summer Experience (HMSE). We were thrilled to welcome her as our featured speaker during our March 12 meeting and saw record-breaking attendance for her presentation!

After lunch, Angie took to the podium to give an overview of her career, including her challenges and successes. She then turned her focus to HMSE, designed to introduce high school students and recent graduates to careers in the building trades. What began as a six-week pilot program in two locations has grown to 38 camps throughout the U.S. and Canada — including one this summer at SMACNA Greater Chicago member Sheet Metal Werks!

During the March meeting, we also welcomed two new members to our association: White Cap Construction and Supply and EMCOR Services

MAY 14 MEETING

Matt Doucet, president of the Wintrust Construction, Engineering and Architecture Group, joined us for our May membership meeting to give an update on current construction and economic trends, along with risks, opportunities and best practices. Some key takeaways from his presentation include:

• In our current high interest rate environment, the Federal Funds rate increased by 5.25% over the past 15 months and the real estate capital structure has changed to require more equity of developers combined with increased construction costs.

• Illinois is experiencing backlogs that are projected to continue for the next 12-15 months. Doucet recommended right-sizing operations to stay competitive, along with exploring diversification. 

• Locally, vertical construction activity is down as developers continue to experience unsettling taxes and higher construction costs. Education, data center and healthcare work continue to keep many busy, and population migration stemming from COVID remains a factor in construction demand.