INDIANAPOLIS, IN – Somerset CPAs has released the results of their 2009 Indiana Construction Industry Financial Performance and Salary & Benefits Survey.  This unique, industry-specific survey provides valuable information about the financial standing of the Indiana construction community, outlining salaries and benefits by position, balance sheets, statements of operations and other information as provided by participating companies.

Somerset’s 2009 financial survey, based on 2008 financial results, indicate Indiana contractors maintain strong financial performance in areas including gross and net profit, working capital, debt-to-equity, equity and cash flow.  The economic recession and the trailing force on the construction community had not yet had much impact on local contractors in 2008.  One indicator for most survey categories that a challenging environment was evident can be found in months in backlog.  Not surprising the three biggest concerns identified were health care costs, sources of future work and federal tax legislation.

Ken Hedlund, Principal on Somerset’s Construction and A/E Team states that “since December, 2008 the economy has changed dramatically.  Less work, more competition, reduced margins and slower pay has created the most challenging construction environment in years.  Many contractors have diversified into new markets, cut expenditures, laid off personnel and/or reduced salaries and benefits.”  The significance of this survey has been noted by the Indiana construction community as evidenced by the increased participation that continues to occur each year – 64 Indiana trade and general contractors participated this year.  This survey is just one of the many "Financial Power Tools for Contractors" offered by the Somerset Construction & A/E Team.

About Somerset CPAs, P.C.
Somerset is a full-service certified public accounting and professional services firm made up of CPAs, business advisors and financial analysts who work to solve the business and individual challenges of their clients. With over 130 professionals, Somerset CPAs, P.C. is one of the ten largest accounting firms in the Indianapolis area. The Somerset Construction & A/E Team is made up of a dozen professionals with over 100 years of combined experience who are solely dedicated to serving the construction, architectural and engineering industries.  Learn more about our Construction & A/E Team click here.

Somerset CPAs, P.C.
3925 River Crossing Parkway, Third Floor
Indianapolis, Indiana 46240
317.472.2200 • 800.469.7206 • FAX 317.208.1200
www.somersetcpas.com