Firm’s Revenues Increase 1000% in Energy/Utilities Market. Growth in Transportation and Water/Wastewater Markets Forecasted
Lancaster, Pa. — RETTEW, an engineering, planning and environmental consulting firm, recently ranked among Engineering News-Record’s (ENR) list of top 500 design firms in the country. ENR ranks companies based on the previous year’s revenue for design services; RETTEW has ranked among the top 500 firms for 8 out of the last 10 years.
“Earning a spot on ENR’s top 500 list is proof of our ongoing commitment to provide superior engineering and consulting services, even as the market for our services continues to change and evolve,” said Mark Lauriello, PE, president, RETTEW.
“Our growth is consistent with overall trends occurring in our industry, as well as the fluctuations in various market sectors in our nation’s overall economy,” added Lauriello.
The largest area of growth for RETTEW in 2008 occurred in the energy and utilities market, where the firm experienced over a 1000% increase in revenues between 2007 and 2008. The firm attributes this extraordinary growth to an increasing demand for its services that support getting domestic oil and gas to market across the U.S. and the expansion or improvement of electric generation facilities and the transmission grid in the Mid-Atlantic region. RETTEW also witnessed a growing demand for services to support the expansion and upgrade of telecommunications infrastructure.
Based on its 2009 revenue projections, RETTEW expects its growth in the telecommunications and energy markets to continue. As state and local government continues to receive several rounds of disbursements from the American Recovery and Reinvestment Act (ARRA) for bridge, highway and traffic safety improvement projects, RETTEW also anticipates growing revenues in the transportation market generated through the delivery of not only traditional design-bid-build but also design-build projects. In addition, RETTEW is forecasting 2009 revenue gains in the water/wastewater market as municipal authorities expand collection/distribution systems, improve or replace aging infrastructure and upgrade treatment systems to comply with Pennsylvania’s Chesapeake Bay Tributary Strategy.
As expected, revenue generated from services the firm provides to the residential market declined as new housing starts slowed dramatically in 2008. RETTEW also noted a decrease in industrial clients’ demand for services as the market for manufactured goods began to soften in 2008, and many industries placed plans for expansion on hold. While the firm’s revenue earnings from much of the private sector decreased, they increased in the public-sector market, particularly in the municipal and federal markets.
About RETTEW
Established in 1969, RETTEW provides engineering, environmental consulting, transportation and surveying services. With more than 200 employees, RETTEW has offices located in Camp Hill, Chambersburg, Chester Springs, Lancaster, and Schuylkill Haven, Pa.; and Liberty and Margaretville, N.Y. For more information on any of RETTEW’s services, please call 1-800-RETTEW-5 or e-mail rettew@rettew.com.
Image caption: Mark Lauriello, President (l), and George W. Rettew, Jr., Chairman and Chief Executive Officer (r).
