THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Saturday, June 10, 1995 TAG: 9506100373
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: TARA TROWER, STAFF WRITER
LENGTH: Medium: 60 lines
With President Clinton looking for further cuts in government spending on construction, some contractors are wary about the future. For the present, however, three Hampton Roads construction firms are smiling after being listed among the top 400 contractors in the country.
Engineering News Record magazine released the 1994 rankings last month, which included Spectrum Construction Group in Virginia Beach, Armada/Hoffler Construction Co. in Chesapeake and W.M. Jordan Co. Inc. in Newport News.
This year's rankings are based on the companies' construction revenues, rather than the dollar amount of new contracts as in previous years, the magazine said.
The largest Virginia contractor, Spectrum, was ranked 42 with revenues of $507 million. The firm's largest subsidiary, also based in Virginia Beach, is Tidewater Construction Corp., with revenues of about $125 million.
Tidewater Construction, built the Chesapeake Bay Bridge-Tunnel and is working on the expansion of the Coleman bridge in Yorktown.
Spectrum also was named the fifth-largest transportation - highway and bridge - contractor.
``Overall, we see next year as being the same as last year (1994),'' said David Eastwood, Spectrum president. ``Some states are spending more money on prisons than on highways. So margins will still be tight, but there should still be enough work to go around.''
Ranked at 156th, Armada/Hoffler president Louis F. Haddad attributes his company's growth to an increase in repeat customers, allowing the company to expand into 11 states.
The company has done everything from jails to hotels. Two of its larger projects in the area are the Waterside Marriott and Hampton University's Convocation Center.
The 11-year-old company debuted on the ENR list eight years ago at No. 289. It has steadily moved up ever since and is now the largest commercial contractor in the state, Haddad said.
W.M. Jordan, listed at 249th place, is fairly optimistic about the coming year. Jordan helped build Nauticus and is working on the addition to the Virginia Marine Science Museum.
``We've got good people, good subcontractors and good suppliers,'' said John Lawson, president. ``So, we're extremely positive on the future.'' ILLUSTRATION: [Color Photos]
Engineering News Record magazine ranked the top 400 contractors in
1994.
Local firms ranked
42 Spectrum Construction Group
Among structures it helped build: Chesapeake Bay Bridge-Tunnel
156 Armada/Hoffler Construciton Co.
Among structures it helped build: Waterside Marriott
249 W. M. Jordan Co. Inc.
Among structures it helped build: Nauticus
by CNB