When the headlines scream panic, it’s easy to lose your footing. Recently dubbed “Liberation Day,” a global market ripple—sparked by trade war tensions—sent the S&P 500 tumbling 15%, with the Nasdaq sliding 20%. Pundits and outlets threw around lines like Market Plunge Persists! and Will the Last Investor to Exit America Please Turn the Lights Out.
It’s easy to understand the fear. But here’s the truth: while the ground may be shifting, Hitchcock Design Group’s footing remains solid—and so does the AEC industry.
Despite a chorus of fears—tariffs slashing budgets, inflation dulling investment, grant programs drying up, and development supposedly grinding to a halt—we’re seeing something different play out in real time. Yes, the private sector is cautious, trying to steady itself amid the noise. But we’re not standing still. We’re moving with purpose.
The recent Senate approval of the fiscal 2025 budget—with a razor-thin 51–48 vote—has cleared the runway for a new tax bill, dubbed the “One, Big, Beautiful Bill.” It promises to extend 2017 tax relief and correct the R&D amortization issue, both meaningful for our industry. In short: the legislative climate is shifting in a way that may benefit the work we do.
In terms of construction trends, the numbers speak for themselves. Private construction grew 0.9% year over year, and public construction edged up 0.2%. While modest, it’s still growth—and the underlying drivers are worth watching:
- Water infrastructure and disaster resilience projects are on the rise.
- Data centers are booming, with a 39% increase.
- Recreational and sports facilities are seeing renewed investment.
At the same time, we’re seeing challenges in transportation and healthcare sectors, along with persistent supply chain inefficiencies and rising material costs. Some large homebuilders have even begun stockpiling lumber in response (now up 15.6%) as home prices soften.
So, where does that leave us?
Stronger than the headlines. Calmer than the chaos.
The big picture? The economy may be recalibrating, but our industry—and our team—are resilient, adaptive, and moving forward. We’re not waiting for perfect conditions. We’re building through the turbulence.
Let’s keep going!
Bill Inman | President & CEO
Bill Inman has been a driving force at Hitchcock Design Group for 35 years. Since late 2018, Bill has been at the helm of Hitchcock Design Group as its second-generation President, CEO, and Board Chair. As President, Bill is responsible for the oversight of the Corporate Team, including HDG’s Corporate Controller & Business Manager, Corporate Vice President, Operations Vice President and Human Resources Specialist, in addition to the day-to-day general management of the firm’s operations. As CEO, Bill is responsible for creating, navigating and executing the firm’s strategic trajectory, crafting and executing the firm’s annual business plans and corporate budgets, and forming and communicating corporate policies. As Board Chair, Bill manages corporate governance, Board operations, committee appointments and Shareholder matters.
