Baker Glasgow, President, Clancy & Theys Construction Company

In an interview with Invest:, Baker Glasgow, president of Clancy & Theys Construction Company, discussed the slowdown in private construction activity, workforce development challenges, and Raleigh’s long-term growth outlook. “I think Raleigh is always going to be on the up and up, but I just never want the Triangle to think that we’re number one, and it’s just going to stay that way without purposeful investment,” Glasgow said.

What changes over the past year have had the greatest impact on the construction industry in the Raleigh market?

There has been a bit of a slowdown in the private market. Raleigh has seen a lot of growth, and maybe a little too much growth in terms of buildings that were constructed for the migration happening across the Raleigh-Durham metropolitan area during and immediately preceding COVID.

We are seeing fewer projects starting in the private world, whether that is office buildings or mixed-use developments. There is still significant opportunity in the public arena, including state, county, city, and higher education. 

How would you describe the current development and construction environment across the Triangle region, and how is that shaping your priorities and strategies?

The private market has certainly slowed down in terms of starts, but not necessarily in terms of activity. There are still plenty of projects in pre-construction that developers plan to move forward with. It is a matter of determining when the timing makes sense.

A lot of that comes down to whether the numbers pencil out. It looked like things were starting to get a little easier for projects to move forward, but then some of the instability overseas, oil prices increasing, and treasury rates rising brought unpredictability back into the market.

Projects still seem likely to happen, but recent global events have delayed certainty around project starts.

What are clients prioritizing most today when it comes to project execution and long-term value?

The Triangle has changed in terms of the quantity of work, so it’s still difficult to get skilled labor on projects, but it is not as challenging as it was during the 2021-24 boom. 

Schedules are extremely important, but now there is the ability to bring projects ahead of schedule because there are fewer projects competing for the same labor.   

How do you view the region’s construction talent pipeline?

Labor is still not available like it should be, or like we would like it to be, but it is more available than it was during the 2021-24 boom. As soon as projects pick back up, it is going to become a big issue again.

Organizations like AGC and ABC are doing what they can to create talent pipelines. Wake Tech Community College and vocational schools are also expanding programs and trying to bring more skilled labor into the market.

There are plenty of engineering schools creating talent for the administrative side of the business, whether that is project managers or similar roles. ECU and NC State are both strong examples.

On the vocational side, we could certainly be doing better, but there is a conscious effort underway to improve those pipelines and bring more labor into the region.

How is technology changing the construction process and improving efficiencies across projects?

Technology and AI are definitely top of mind for us. We are embracing it, but we are also trying to be thoughtful about how far to go and how much investment to make.

Right now, we are putting our data into systems where it can be better harvested. We are essentially creating the infrastructure for AI to sit on top of our existing systems. We have also hired consultants to help us look at workflows and identify areas where technology can improve efficiency.

We are using Copilot within our Microsoft Suite and gradually introducing it to more people in the organization as they complete training. There is no reason to have those tools if people do not know how to use them.

I always say we are not behind and we are not ahead. We are somewhere in the middle. But we absolutely believe this technology is here to stay, and we are making it a priority.

What opportunities do you see for Raleigh and the broader Southeast in the years ahead?

Raleigh needs to continue riding the momentum it has already built. The region is known for being forward-thinking, for being a tech hub, and for producing strong talent from major universities.

I also think Raleigh needs to make a larger investment in downtown and in connecting downtown to Dorothea Dix Park. I think that requires a major effort from Wake County, the city of Raleigh, and the state of North Carolina.

Raleigh is already growing and consistently ranked highly, but sometimes I think we can rest on our laurels a little too much. We need to think about what the next really big thing is that can take Raleigh to another level.

What are Clancy & Theys’ top priorities for growth and long-term impact over the next three to five years?

We have a pretty young group right now. Many of our baby boomers have retired, and there was a bit of a talent gap between that generation and the next wave.

A major focus for us is developing younger talent through internships and training so they can grow with the company and eventually become the next generation of leadership.

Right now, we are focused on strengthening our people, refining our core business, and making sure we are operating on all cylinders. Once we feel solid in all of those areas, we can think more seriously about expansion and what the next big opportunity looks like for us.

Is there anything else you would like to add?

It has been an interesting time in Raleigh. We have offices across the Southeast, including Virginia, Charlotte, Wilmington, Greenville, South Carolina, and Orlando, but we are headquartered in Raleigh, and this year has been slower than we have been accustomed to.

At the same time, we can see a strong pipeline of future projects. It is also absolutely critical that North Carolina has finally reached the framework of having a budget because many projects were left in limbo as a result of that uncertainty.

It is vital that North Carolina remains the number one place to do business. That means maintaining low taxes while also continuing to invest in the infrastructure that makes the state attractive in the first place.

I am optimistic. I think Raleigh is always going to be on the up and up, but I just never want the Triangle to think that we’re number one, and it’s just going to stay that way without purposeful investment. I think we always have to keep improving.