ENR Mountain States & Southwest Specialty Firms Grow and Shift in Lockstep with the Market

Whereas the market continues to be considerably unpredictable, regional subcontracting corporations nonetheless see growth throughout most product sorts in most of their working markets. “The place there may be an ebb and move, we lean into our 41-year historical past of managing market cycles, as a result of there’ll all the time be market cycles,” says Andy Snedeker, a director with Suntec Concrete. With $920 million in income reported for 2024, the agency is ranked in first place on this 12 months’s record of Prime Specialty Contractors for the newly mixed ENR Mountain States & Southwest area.

Snedeker says Phoenix is at present having fun with “the TSMC impact,” referring to the unprecedented funding by Taiwan Semiconductor Manufacturing Co.

“The corporate’s manufacturing presence is creating many hundreds of jobs whereas additionally boosting the business actual property leasing and building markets with the attraction of provider firms and skyrocketing residential housing wants. The Phoenix economic system has grown considerably over the previous decade, however the addition of TSMC provides the market a completely new stage of legitimacy,” Snedeker says.

Within the Intermountain space, Utah can be changing into a brand new business actual property darling. “Firms and industries are more and more recognizing its priceless mixture of benefits, from Utah’s low value of doing enterprise to its very strategic geographic place within the area. Important industrial improvement has spurred progress throughout all product sorts, together with workplace, multifamily and even the hospitality sector,” Snedeker contends.

Encore Electrical was on the crew of specialty corporations that just lately accomplished the Glenwood Springs Upkeep Facility growth in Glenwood Springs, Colo. The brand new facility higher serves the Roaring Fork Valley because it prepares to offer extra dependable, environment friendly and sustainable transportation.
Photograph courtesy Encore Electrical

Leaning Into Present Circumstances

“As a specialty contractor and product producer, we’re seeing constant demand and stay cautiously optimistic heading into This fall,” says Marc Paolicelli, chief buyer officer and senior vice chairman of Denver-based RK Industries. The corporate is ranked within the No. 4 spot on ENR’s specialty corporations record for the area with $435 million in income reported for 2024.

“Labor shortages are ongoing ache factors, and like many within the business, we’re targeted on discovering sensible, sustainable methods to navigate them,” he provides.

“We’re lucky to have the expertise within the vertical markets that proceed to be sturdy within the Mountain States area, and we proceed to concentrate on the event of our groups,” provides Andy Gordon, president at Encore Electrical. The agency holds the No. 6 spot on this 12 months’s record, with $348.5 million in regional income for 2024.

Whereas there are not any ensures on this enterprise, Gordon says Encore, like lots of the different specialty corporations on the record, really feel assured within the work they’ve been awarded, and they’re approaching the altering economic system by intentionally sustaining a various buyer base.

Gordon’s recommendation for different corporations: “Be proactive from preconstruction to building to assist present options on constructing a greater venture. Offering early options to venture challenges is all the time higher than ready till the problem is true in entrance of you.”

“It’s essential to do not forget that we’ve seen market shifts earlier than,” Snedeker provides. “If we study from the previous and stay nimble, prepared to regulate to vary, we will preserve our foot on the gasoline and proceed to construct our enterprise.”

Editor’s Observe: ENR’s regional subcontractor rankings look totally different this 12 months after consolidation of a number of regional journal editions into 5 new ones: Mountain States & Southwest, East, Midwest, Texas & Southeast and West. On the next pages ENR share’s the inaugural Mountain States & Southwest Prime Specialty Contractors record, with 38 corporations ranked by 2024 income. There are additionally breakout tables targeted on state and market sector knowledge throughout the seven-state area of Arizona, Colorado, Idaho, New Mexico, Utah and Wyoming.