All of us who have spent many years in the construction industry have seen unprecedented challenges brought on by the last five years. Construction activity dropped in all markets serviced by Conco with the worst markets off by nearly 80% from their peak. As the U.S. economy fell into a recession, the construction industry dropped into a depression.
Recently, general signs have pointed to a marked improvement in construction activity throughout the western United States. The amount of work secured by Conco has increased dramatically with new projects in the planning stages being announced every week.
With this renewed optimism, Conco has embarked on a plan to put itself in a position to meet the needs of a growing construction market. We have made significant capital investments in our facilities and equipment so that we can best serve our customer base.
Furthermore, Conco has expanded its geographic footprint by opening an office in Denver, CO and has taken a more active role bidding and securing work in Portland, OR. This newsletter will give you an overview of some of the actions taken by Conco to meet the needs of the construction industry. With the infusion of private money into projects, we are bullish that the worst is behind us and recent gains can be sustained in the near future.