Author: Wesleigh Mowry

 

At Miles-McClellan Construction, we have always believed that we are more than just a construction company; we are builders of relationships. On December 1, 2025, we took a historic step to honor the people who build those relationships every day. We are proud to announce that Miles-McClellan has transitioned to becoming a 100% employee-owned company through an Employee Stock Ownership Plan (ESOP).

A Legacy of Doing Things Differently

Our story began in 1978, when our founders, Lonnie Miles and Terry McClellan, left a large international construction firm because they knew there was a better way to deliver work. They felt that large companies often let bureaucracy get in the way of customer service. They set out to build a company grounded in humility, hard work, and the goal of exceeding client expectations. 

For nearly 50 years, that philosophy has guided us. Today, with approximately 260 employees working across Columbus, Ohio, and Charlotte, North Carolina, we have grown steadily by sticking to those roots, building opportunities for long-term, rewarding careers at every level and corner of our company. 

Why Employee Ownership?

Transitioning to an ESOP is the natural evolution of our culture. It allows us to preserve our legacy while empowering our workforce to be the next generation of leaders. By paving the way for employees to strengthen their skills, move up into management, or even create entirely new teams and lines of business, the ESOP model allows Miles-McClellan employees to take an active role in forging their career paths.  

 “This company has always been family– focused. That means taking care of employees with good pay and benefits,” says CEO Matt McClellan. “Adding employee ownership takes that care to another level.” We believe in taking care of our team, providing benefits like 100% employer-paid medical coverage because we know life doesn’t stop when the workday ends. 

In simple terms, an ESOP is a retirement plan funded entirely by the company. It means that every employee now has a financial stake in how Miles-McClellan performs. As President Tim McClellan explains, our founders held a core belief: “if you work hard every day, you should be able to retire well.” This plan ensures our team has the opportunity to do exactly that. 

What This Means for Our Partners
For our clients and partners, it is business as usual — only better. The executive leadership team remains at the helm, and our dedication to solving complex construction challenges is stronger than ever.

Our team members have always taken immense pride in their work, often referring to the hospitals, schools, and community spaces we build as “my projects.” It’s why one of our core values is “Extreme Ownership,” and this transition brings that value to life in a new way.

When our employees succeed, the company succeeds, and our clients get the best results. We are excited to continue building excellence, now as a company owned by the very people who make it great.

 

Architecture Firm Billings and Reconstruction Trends: A significant portion of architecture firms report steady or increased work on reconstruction projects, focusing on modernization, adaptive reuse, and upgrades in building systems. However, challenges loom as billings have declined for 12 straight months, including securing agreements for larger projects, partly due to high interest rates.

ABC Construction Backlog and Confidence: The Construction Backlog Indicator showed a slight increase in September 2024, reflecting moderate confidence in future sales and profit margins despite economic headwinds. Contractors are optimistic about the easing of interest rates and material costs.

Dodge Momentum Index: The index, a leading indicator of nonresidential construction, declined by 4.2% in September due to a slowdown in data center projects, though institutional projects in education and healthcare saw growth. The index remains high, driven by institutional, education, healthcare, and recreational projects entering the planning queue.

Sector-Specific Forecasts:

• Nonresidential Construction: Expected to slow, with key drivers including economic factors like high office vacancy rates and reduced warehouse construction.
• Healthcare and Education: Stable investment levels are anticipated, with growth expected in late 2025. Education sector growth is projected due to bond measures and continued support for higher-education projects.
• Residential: Multifamily residential construction is forecasted to decline due to inventory surpluses and stable rental rates, while single-family residential shows signs of recovery.
• Manufacturing: Federal funding initiatives are expected to fuel a significant increase in construction investment in semiconductors, electric vehicles, and biomanufacturing sectors. However, talent shortages and supply chain issues pose challenges.

Outlook: The construction industry expects moderate growth through 2024, with slower expansion in sectors sensitive to interest rates. Anticipated federal rate cuts in 2025 may stimulate new projects, particularly in public safety, manufacturing, and amusement/recreation. Our report reflects a cautiously optimistic outlook, tempered by ongoing challenges related to high interest rates, supply chain constraints, and sector-specific issues like high office vacancies and the multifamily housing slowdown.