St. Petersburg, Fl – National electrical contractor, Power Design, Inc., has been ranked by the Business Observer as one of the Top 50 Contractors in Southwest Florida. The Business Observer’s annual rankings are based on company revenues with Power Design ranking second, climbing from $189 million in gross revenue in 2013 to $240 million in 2014.

“It is amazing what our team has been able to accomplish in just one year. We have been fortunate to work on remarkable projects with great partners,” says Mitch Permuy, CEO of Power Design.

When the 2011 list of Top 50 Gulf Coast Contractors was published, the headline read “Final Leg of the Fall?” in reference to the economic downturn that resulted in more than half of the top 50 contractors reporting lower revenues in 2010 than in 2009. Since that time, Power Design has gained momentum and achieved tremendous growth over the past five years.

“Luckily, we were prepared as a company for the downturn,” says Permuy. “We were able to reassess processes during that time, diversify our markets, and invest in employee training. Now several years later, we are in a better position for growth and have achieved our highest contract award values to date in 2014.”

Many industry experts such as the Commerce Department and National Association of Home Builders have reported growth in construction reaching an all-time high. The changing times provide a positive outlook but also present challenges, such as labor shortages. Power Design plans to continue investing in its training programs and staffing initiatives in order to overcome these obstacles and maintain a top-place ranking for years to come.