EBJ's annual census of the U.S. environmental consulting & engineering industry reveals an almost 4% decline in market size in 2009. Private markets were hardest hit, lead by property developers and domestic manufacturing, but federal markets showed some growth as stimulus funded projects benefited a number of firms. In spite of declining markets, environmental consulting firms in general maintained their profitability much better than in previous cycles, mostly as a result of personnel management tactics. M&A activity has picked up in 2010 and EBJ lists some signature deals and the strategic rationale behind them, with a discussion of deal and valuation drivers from industry experts. EBJ also lists the top 50 U.S. environmental consulting & engineering firms and profiles some firms outpacing the market.