West Palm Beach, Fla. – (July 21, 2017) – West Palm Beach-based Verdex Construction has been selected from more than 500 companies to be recognized for the 2017 GrowFL “Florida Companies to Watch” award. The awards event – now in its sixth year – honors select, second-stage companies from throughout the state for developing valuable products and services, creating quality jobs, enriching communities, and broadening new industries throughout Florida. The 50 selected “Florida Companies to Watch” collectively represent $391 million in annual revenue and employ 1,948 full-time equivalent employees. Verdex is one of just two companies selected in Palm Beach County.
“When we say we are ‘Building Something Better,’ we’re not just talking about our projects, but our company’s culture and commitment to the communities where we live,” stated Rex Kirby, company president. “Our rapidly growing client list reflects their trust in this mission and our goal of exceeding expectations and delivering their projects successfully.”
Verdex began offering construction services in 2015, growing from an initial staff of 4 to 31 in 2016. Revenue has grown from just under $2 million in 2015 to an expected $100 million plus in 2017. Verdex provides general contracting services to clients including preconstruction, construction management, and design-build. Verdex is committed to ‘Building Something Better’ through exceptional service, a fundamental focus on safety and quality, agility and value to owners, customers and the community.
Verdex projects underway throughout South Florida include 1000 North, a Michael Jordan co-owned restaurant on the Loxahatchee River in Jupiter; Sabbia Beach Condominiums, a 19-story, 68 unit luxury residential tower in Pompano Beach; the Turnpike Business Park, a light industrial office/warehouse facility project in suburban West Palm Beach; an interior renovation for Aberdeen Country Club and several apartment complexes including the recently completed High Ridge Landing Apartments in Boynton Beach.
“These stand-out companies are all led by entrepreneurs, and have demonstrated their capacity and intent to grow,” said Dr. Tom O’Neal, executive director of the Florida Economic Gardening Institute and associate vice president for the University of Central Florida’s Office of Research and Commercialization. “They also all have critical intellectual property or a niche position that gives them a competitive edge in their markets,” he said.
Summary of Winner Demographics
7 Regions, 19 Counties and 27 Cities Represented
54% Women, Veteran and/or Minority‐Owned
58% Limited Liability Company; 32% S Corporations
Oldest Company Formed: 1946 Newest: 2015
19 Different Industries Represented
Largest industry representation – Manufacturing 22%
Total 2016 Revenue: $391 million | Average 2016 Revenue: $7.8 million
Total 2016 Employment: 1,948 | Average 2016 Employment: 39
Economic Impact Between 2012 and 2015: Revenue $1 billion