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Top 10 specialty firms in 2017 grew regional revenue by $1 billion
Major specialty contracting firms in the New York-New Jersey region appear to be benefiting from the still strong metro area building construction market, with revenue for the 10 largest firms on this year’s regional list up nearly $1 billion, to $2.97 billion. That total, based on 2016 reported regional revenue, made up nearly two-thirds of this year’s $4.1 billion in revenue for the 40 firms ranked in 2017.
EMCOR Group Inc. gained the top spot among the specialty firms for the third year in a row, reaching $818.9 million in revenue. The figure is a 17.7% increase over the firm’s $696 million in regional revenue reported on last year’s list. Five Star Electric Corp., E-J Electric Installation Co., WDF Inc., Enclos Corp., W&W Glass LLC, Unity International Group, O’Connell Electric Co., B&G Electrical Contractors of New York Inc. and MasTec Inc. round out the top 10 firms.
Enclos, ENR’s Specialty Contractor of the Year, is performing glazing and curtain wall construction for the 1 million sq ft of facade at one tower in the Hudson Yards development (see related story, p. 18).
In New York City, office construction is still a growing market niche, according to the New York City Building Congress. The group expects 2.3 million sq ft of new office space to be completed in Manhattan in 2017, while Brooklyn and Queens are projected to see 6.9 million and 3.6 million sq ft, respectively.
“Not since the Citigroup Building in Long Island City and MetroTech Center in downtown Brooklyn were completed have we seen so much office construction in the boroughs outside Manhattan,” says Building Congress President and CEO Carlo A. Scissura.
Commercial construction remains robust in northern New Jersey, spurred by projects such as American Dream, the long-gestating $5-billion retail and entertainment complex in East Rutherford.
Berlin Steel Construction Co., ranked at No. 19 among the top specialty contractors on this list, is a project subcontractor.
Hatzel and Buehler, ranked No. 12, on this year’s list, also cited commercial work as a significant area of growth in 2016.
“We have completed a number of commercial office renovations,” says Scott Eyester, company vice president in Hamilton, N.J.
Related Chart: ENR New York 2017 Top Specialty Contractors