Description

For large design firms in the U.S., 2007 was a strong year. But many firms increasingly worry that 2008 will be less robust as the U.S. economy teeters toward recession and as financial institutions, bloodied by the subprime housing mortgage meltdown, look to be more careful in financing new projects. Still, many large designers continue to view the future with optimism as they brace themselves for a few short-term bumps in the road.
The strength of the 2007 construction market is clear in the volume numbers for for ENR’s list of the Top 500 Design Firms. As a group, they generated a total of $80.62 billion in revenue last year, up 15.8% from $69.61 billion in 2006. This growth was reflected in domestic and international markets, with U.S. projects yielding revenue of $60.95 billion in 2007, up 11.4% from 2006. Revenue from projects outside the U.S. grew 32% for the Top 500, to $19.67 billion.