It takes serious aspirations for a West Coast general contracting firm to break into North Carolina’s competitive construction business, but Swinerton isn’t lacking ambition.
Founded in 1888, Swinerton emerged in the early 20th century as one of California’s largest contractors, building or renovating many of the largest and most famous structures in Los Angeles and San Francisco. It expanded in other western states and Texas, but didn’t make a transatlantic bet until 2018.
That’s when it remodeled a 67,000-square-foot building in a gentrifying west Charlotte neighborhood, FreeMoreWest, and set up an East Coast regional headquarters.
Seven years later, East Coast projects will produce revenue of about $450 million, including about $185 million in the Carolinas, says Kevin Smith, who has been the region’s division manager since 2023.
That makes up a small part of Swinerton, which reported $4.85 billion in revenue last year, earning the No. 30 slot on ENR’s annual list of the largest U.S. contractors, up five spots from the previous year. (The company is named after Alfred Swinerton, who joined the company in 1906.)
Swinerton’s regional enterprise remains smaller than rivals such as Greensboro-based Samet, the largest N.C.-based contractor with revenue of $1.4 billion last year, ENR reports.
“I’ve been surprised at how many general contractors there are [in the Carolinas],”
Smith says. “We’re growing every year, year over year, at a steady pace. We are being innovative, executing really well, keeping to our principles and listening to how we can help our clients.”
Asked what sets Swinerton apart beyond the basics, Smith points to its strategy of often handling carpentry, drywall and other work with its own employees, rather than using subcontractors. Many work on the company’s adaptive reuse projects, which typically range from $500,000 to $5 million.
“It’s a big differentiator for us, and we’re trying to let people know that we are not just general contractors,” he says.
Then there’s the firm’s push into alternative building materials, most prominently through its mass timber affiliate, Timberlab. Mass timber involves nailing or gluing multiple solid wood panels together, providing a low-carbon option to concrete or steel structures.
Projects include a four-story building in Wilmington and apartment developments in Charlotte’s NoDa neighborhood. The process often remains more expensive than traditional construction, but tends to be more cost-competitive in larger projects, Smith says.
“Mass timber is taking off because some architects and owners are excited by the sustainability factor and the ease of construction,” he says.
Like other contractors, Swinerton is facing more delayed private-sector projects, partly because of higher financing costs and space vacancies. That prompted the business to seek more public-sector jobs, which have included the first all-electric firehouse in Charlotte and a police station in the Queen City. Smith says he’s also pushing hard for more healthcare projects because of the sector’s robust growth.
The success in making that shift is evident in the higher ENR ranking, officials say.
Swinerton also distinguishes itself as an Employee Stock Ownership Plan business, with each staffer having equity. Its ESOP rules limit any employee from owning more than
4% of the company, unlike some ESOPs that are tilted to senior leadership ownership.
“Everyone has a financial stake in the company, so everyone is incentivized to make
good business decisions, whether you are a carpenter or division manager,” says Smith, who joined the company in Hawaii in 2010. “The goal is to push wealth down to all of
the company.”
Concern over the impact of higher tariffs is a real issue, but Smith says the company has a backlog of projects extending through 2028. “The name of the game is constantly filling the pipeline with new projects,” he says. “Your foot always has to be on the gas pedal.” ■
David Mildenberg is editor of Business North Carolina. Reach him at dmildenberg@businessnc.com.