Like those elsewhere, general contractors in ENR’s New York and New England regions suffered a drop in construction revenue in the year of the pandemic. But individual firms still managed positive financial results in 2020. The 50 largest contractors in New York and New Jersey on this year’s Top Contractors list reported combined revenue of $24.76 billion for 2020, down 8.6% from the 50 highest-ranking firms’ regional revenue of $27.1 billion in 2019. The top five firms together had regional revenue of $9.8 billion, a reduction of 22% from $12.6 billion reported in 2019.
Yet at least one contractor saw increased revenue in the New York region: Gilbane Building Co., which reported $1.56 billion last year , compared with $1.50 billion a year earlier (see page NYNE24 for a closer look at how the firm generated growth in 2020).