When the recession hit, leaders at engineering firm Pennoni Associates could easily have been tempted to follow a safe, conservative strategy. After all, the firm, which has been in business for nearly a half-century, had played a key role in building many landmark structures in and around its Philadelphia home, including stadiums, bridges and skyscrapers. But Pennoni decided not to stand pat.
As many firms pulled back because of weakened markets, Pennoni went on the offensive, growing internally and through acquisitions. As a result, Pennoni revenue rose steadily, to $128 million last year—$107 million of which was from mid-Atlantic projects—from $94 million in 2009. Because of the track record of success it has built through rough economic times and the recovery, ENR MidAtlantic has selected Pennoni as its Design Firm of the Year.