{"id":29744,"date":"2025-03-30T15:06:05","date_gmt":"2025-03-30T22:06:05","guid":{"rendered":"https:\/\/essential.construction\/news\/shawmut-hits-1b-in-new-england-revenue\/"},"modified":"2025-03-30T15:06:05","modified_gmt":"2025-03-30T22:06:05","slug":"shawmut-hits-1b-in-new-england-revenue","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/shawmut-hits-1b-in-new-england-revenue\/","title":{"rendered":"Shawmut hits $1B in New England revenue"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><\/p>\n<p>            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"-\"><\/p>\n<p>        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">2 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"https:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1743012681\/news\/text_to_speech\/shawmut-hits-billion-revenue-new-england_y3hvci.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<h3>Dive Brief:<\/h3>\n<ul>\n<li><span><span><span><span><span><span>Shawmut Design and Construction, a Boston-based contractor, surpassed <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.shawmut.com\/news\/shawmut-tops-1-billion-in-revenue-in-new-england-expands-leadership-team\" target=\"_blank\"><span><span><span><span><span><span><span>$1 billion in revenue in New England<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> in 2024, largely due to its work in education-related construction, according to a news release. Its overall revenue in 2023 reached about <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/kbsgc.com\/wp-content\/uploads\/ENR-2024-Top-400.pdf\" target=\"_blank\"><span><span><span><span><span><span><span>$1.67 billion<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, according to Engineering News-Record.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>To support growth, the firm promoted four executives to regional roles, including a new chief operating officer, preconstruction head and two vice presidents in its Large Project Division.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>The revenue achievement signals continued construction demand in Shawmut\u2019s main areas of expertise, particularly education and large-scale ground-up commercial projects, said Kevin Sullivan, executive vice president of Shawmut\u2019s New England region.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n<h3>Dive Insight:<\/h3>\n<p><span><span><span><span><span><span>Shawmut\u2019s latest milestone comes amid a broader push in securing large-scale, technically complex work across the Northeast, said Sullivan.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>For example, some of Shawmut\u2019s recent major projects in the New England area include:<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<ul>\n<li><span><span><span><span><span><span>The opening of UMass Chan Medical School\u2019s $350 million new education and research building at the University of Massachusetts in Worcester.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>The start of construction on Boston University\u2019s $550 million renovation of Warren Towers.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>Continued progress on insurer FM Global\u2019s new research and development campus in Norwood, Massachusetts.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>Harvard University\u2019s redevelopment of 175 North Harvard St. in Allston, Massachusetts.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span><span><span><span><span><span>The contractor also expanded its own regional footprint with a new office in Worcester and promoted several leaders.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Shawmut tapped Mike Kearns as its new COO of the New England region after 26 years with the company and promoted Bob Wice and Mark Malmquist to vice presidents of its Large Project Division. It also appointed 26-year veteran Chris Maury as head of preconstruction and Rhode Island, according to the company.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The firm\u2019s expansion strategy mirrors its recent <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/shawmut-new-york-growth-large-projects\/735054\/\" target=\"_blank\"><span><span><span><span><span><span><span>strategy shift in New York<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, where it doubled down in December 2024 on preconstruction investments and large project staffing. That move aims to meet construction demand for healthcare, life sciences and education projects.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/shawmut-hits-billion-revenue-new-england\/743552\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 2 min This audio is auto-generated. Please let us know if you have feedback. Dive &#8230; <a title=\"Shawmut hits $1B in New England revenue\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/shawmut-hits-1b-in-new-england-revenue\/\" aria-label=\"Read more about Shawmut hits $1B in New England revenue\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-29744","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/29744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=29744"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/29744\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=29744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=29744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=29744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}