In 2021, 13 Kansas City-area companies led Kansas City Business Journal's Top 150 list as having crossed over the $1 billion revenue threshold. Two companies, Terracon Consultants Inc. and MMC Corp. were inching near that milestone.
MMC Corp. ended 2022 surpassing $1 billion thanks to market expansion, business diversification and organic growth. Now, Olathe-based Terracon is celebrating its successful 2022, announcing the employee-owned consulting engineering firm, too, has hit the billion-dollar mark.
Terracon President and CEO Gayle Packer said that the economic landscape of 2022 was more favorable that the past few years, with many of the firm's markets rebounding from challenges brought on by the Covid-19 pandemic.
Packer said that performance at Terracon is measured in terms of "prosperous growth," or growth achieved by doing the right thing, like providing a safe environment for employees ensuring they return home to their families each day. Prosperous growth also means growing both top-line and bottom-line for the benefit of the firm's employee owners.
"We see reaching $1 billion in revenue as an important milestone for us," Packer said, "but it wasn't the goal, and it's not the finish line."
2022 introduced a company-wide rebranding effort, the first in the firm's 55-year history. Terracon also made two acquisitions last year, making 17 acquisitions total since 2017. Now with over 175 locations across the U.S., Packer said Terracon will continue to pursue a blend of organic growth and strategic acquisitions.
The company will continue to evolve its services and organization to best position itself for sustained growth in 2023 and beyond.
"I won’t make predictions, but I will say I’m continually amazed by the talent, expertise, curiosity and innovative thinking of our more than 6,000 employee-owners, and excited by what we can accomplish together for our clients and communities," Packer said.
Terracon's growth in 2022 was about executing the strategic plan and working together to deliver consistent experiences for both clients and employees, Packer said.
Terracon is No. 6 on KCBJ's List of engineering firms ranked by local employees. The firm ranked No. 21 on Engineering News-Record’s Top 500 Design firms in 2022.