In its 47th annual list of the nation’s top 100 largest Black-owned businesses, Powers & Sons Construction rose 30 spots—up from 62—in Black Enterprise magazine’s 2019 “Top 100” list.
The ranking equates to a nearly 157 percent increase in growth, which landed Powers & Sons in first place on the magazine’s ten-company “Growth Leaders” chart. Only one other firm achieved triple-digit growth last year.
In compiling the annual list, the magazine considers a range of factors, including total number of employees, sales by industry, annual revenue, and overall five-year trends. The largest business sectors on the list are technology and manufacturing, with about 38 percent and 24 percent of the total respectively.
Black-owned construction companies accounted for nearly four percent of the total, ahead of the media, energy, transportation, telecommunications, and health care sectors.
In total, the companies on the list employ more than 70,000 workers and earned more than $25 billion in revenue last year.