commentNorthwest Construction’s annual survey of the Northwest’s top contractors shows a 14.2% drop in revenue in 2009 over the previous year. A total of 63 firms responded to the survey, which includes revenue from work performed in Alaska, Washington and Oregon.
The top 10 contractors felt the recession even harder, dropping 18.4% from the previous year’s list. Two firms topped $1 billion for the first time in 2008 -- Beaverton-based Skanska USA and Portland-based Hoffman Construction Co. -- but neither could sustain that pace this year, coming in at $804 million and $765.4 million respectively for 2009.
It’s a trend that is likely to continue into the current year. “For 2010, we are anticipating that our revenues will be down due to the financial industry’s ongoing battle to recover from the economic downturn,” says Chris Toher, senior vice president of Skanska’s Seattle office. “Many in the private sector are challenged due to the lack of lending.” There are opportunities for larger projects in the public sector that the firm has their sites set on, Toher adds.
Oregon contractors saw $3.1 billion of work in 2009, down slightly from $3.5 billion. Washington contractors felt a more significant drop from $7 billion in 2008 to $5.8 billion in 2009.
Some good news: Alaska actually saw an increase from $275 million to $384 million in 2009.
On the following pages you will find the top contractors ranked in a variety of categories, from transportation to health care. For the first time, we rank the top green contractors as well – find those charts in the GreenSmart section later in the magazine.
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