Powering Ahead

At Power Design Inc., the electrical contracting firm housed in a sleek, redeveloped airbag factory in St. Petersburg, business is booming. Revenues have leapt, and Lauren Permuy, vice president of business development, finds herself in the enviable position of being picky about new contracts.

With 121 projects under way from Florida to New Jersey, and out to the California coast, the company clearly has left behind the economic crisis that sliced its revenue and brought apartment construction to a grinding halt. Gone are the glory days of 2007, when Power Design reported revenue of more than $211 million, but the firm is rebounding fast. Revenue had sunk to less than $92 million in 2010, but it climbed to $110 million in 2011, and in 2012, jumped 28.2%, to $141 million. And Permuy projects about 40% growth for 2013.

“We are growing so fast right now we cannot fill the positions fast enough. We have completely sucked Tampa Bay dry of talent and we are moving people in from all over the country,” says Permuy, the daughter of CEO Mitch Permuy and CFO Dana Permuy, who founded the firm in 1989 and guide its operation. Lauren Permuy, 28, has a construction management degree from the University of Florida, and earned a general contracting license. She has been with the firm five years.