Clearwater Marine Aquarium by B&I Contractors Inc.
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From rooftop restaurants and schools — lots of schools — to interstate trucking stops, hospitals, resorts and apartment buildings, contractors and construction companies across the region are busy.
Busy enough that the top 50 in the region posted $8.38 billion in revenue in 2023. It’s the third year in a row the 50 largest companies surpassed another billion dollars in total.
Some other takeaways from a broad look at the 2024 Top 50 include:
A second company has joined Manhattan Construction, with dual headquarters in Naples and Tulsa, Oklahoma, in billion-dollar territory. That company is St. Petersburg Power Design, a multi-trade contractor. Power Design, with projects including The Pendry, a luxury hotel and residential tower in downtown Tampa, had $1.2 billion in revenue in 2023, up 21.58% from $987 million in 2022.
Five companies have surpassed $400 million in annual revenue, with a sixth business, Oldsmar-based Ajax Building Co., closing in at $397 million. (There were three over $400 million in 2022.)
There are now 20 companies with over $100 million in annual revenue, up from 17 in 2022 and 13 in 2021.
More than half the companies, 28, increased revenue year-over-year by at least 10%. Of those, 19 were up at least 20%. A trio of companies were up more than 100%. Those companies are Tampa-based Summit Design + Build, up 120%; St. Petersburg-based Wallace Construction Group, up 133.33%; and Sarasota-based Magnum Builders, up 101.69%.
Less than one-fifth of the companies on the Top 50, eight in total, posted revenue decreases.
In 2023, Ajax completed the University of Florida Malachowsky Hall Data Science and Information Technology building. The seven-story, 263,000-square-foot, state-of-the-art building includes over 30 laboratories, office and auditorium spaces.
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The gains and growth in construction and projects in the region, mirrors, and in some cases, outpaces, the national industry. To wit: nonresidential construction spending has risen more than 17% over the past year, according to a report released March 1 from the Associated Builders and Contractors.
Overall, nonresidential construction spending decreased slightly, 0.4% in January, says the ABC, based on U.S. Census Bureau data. Private nonresidential spending fell 0.1%, while public nonresidential construction spending was down 1.0% in January. The drop could be an outlier, as the previous 19 months saw gains. “Given (the) year-over-year strength and the fact that a majority of contractors expect their sales to increase over the next six months, according to ABC’s Construction Confidence Index, spending is likely to rebound over the coming months,” ABC Chief Economist Anirban Basu says in the statement.
The list
To make the Top 50 Contractors list, companies must be based in the Business Observer’s coverage area, from Polk County south through Collier County. Companies must be in some type of contracting field: electrical, general construction, roofing, HVAC, plumbing and more. Data is self-submitted.
The region's top 50 contractors by 2023 gross revenue:
Manhattan Construction Group, $1.78 billion
Power Design Inc., $1.2 billion
RIPA & Associates, $493 million
Owen-Ames-Kimball Co., $436 million
DeAngelis Diamond, $430 million
Ajax Building Co., $397.9 million
Brooks & Freund LLC, $240 million
Hawkins Construction Inc., $195 million
Creative Contractors, $194 million
B&I Contractors Inc., $188 million
Crowther Roofing and Sheet Metal of Florida, $176.44 million
Connor & Gaskins Unlimited, $173 million
Willis Smith Construction Inc., $143.08 million
NDC Construction Co., $142 million
KHS&S Contractors, $135.23 million
Park & Eleazer Construction LLC, $121.52 million
Summit Design + Build, $120 million
Stevens Construction Inc., $114.36 million
APG Contractors and Engineers, $113.44 million
Wright Construction Group Inc., $106 million
ENVIROSTRUCT, $105 million
iConstructors LLC, $92 million
McIntyre Elwell & Strammer General Contractors Inc., $90.7 million
Bay To Bay Properties, $90 million
Sutter Roofing, $82.78 million
TDS Construction Inc., $74.7 million
CFS Roofing Services LLC, $74.32 million
Florida Asphalt & Concrete, $71 million
Woodruff & Sons Inc., $71 million
TLC Diversified, $68.3 million
Burgess Civil, $58 million
R.E. Crawford Construction, $54 million
Westfall Roofing, $47.51 million
Gator Grading & Paving, $44.9 million
MY Shower Door / D3 Glass, $39.68 million
Wallace Construction Group, $35 million
Adams Group, $33.9 million
Heatherwood Construction Co., $32 million
Diaz Fritz Group General Contractors, $31.73 million
J.O. DeLotto and Sons Inc., $31.2 million
ArtisTree Landscape Maintenance & Design, $30.50 million
Mark Williams Construction Co., $30 million
Jon F. Swift Construction, $30 million
J2 Solutions Inc., $25.96 million
Masonry Builders Inc., $24.95 million
Magnum Builders of Sarasota Inc., $24.58 million
Absolute Aluminum Inc., $23.24 million
Case Contracting Co., $22.83 million
Stellar Development, $22 million
Superior Pools of Southwest Florida, $21.3 million
Mark Gordon is the managing editor of the Business Observer. He has worked for the Business Observer since 2005. He previously worked for newspapers and magazines in upstate New York, suburban Philadelphia and Jacksonville.
