ENR New York reports that the 50 firms in its Top Contractors for New York and New Jersey ranking reported an overall increase of 6.5% in volume in 2018 to $27.42 billion, compared to the $25.75 billion update in 2017.
The publication reported some surprises in revenue figures for the top 10 firms in certain sectors. “Revenue for firms working on religious and cultural projects rocketed 42.34% to $367 million, while those reporting work on green projects grew revenue an impressive 24.4% to $9.43 billion as more owners apparently believe that greener structures equal greener bottom lines,” ENR reported.
“One trend we’ve been seeing in the market is an uptick in high-performance buildings, including toward LEED Gold and Platinum certification, smart buildings and passive house construction,” ENR quoted Charlie Avolio, Suffolk Construction‘s president and general manager, as saying. Suffolk climbed to 24 in the main ranking, an increase from 37 last year. “Clients are increasingly prioritizing projects that are less likely to be affected by any legislative changes with regard to energy efficiency.”
Retail construction revenue rose 11.7% to $1.05 billion for the top 10 firms in the sector, with that market niche a core strength for J.T. Magen & Company Inc., says its president, Maurice Regan. The firm is building the Nordstrom flagship store in Manhattan, scheduled to open in October, ENR reported.