RAND Is the Only NYC A/E Firm Named to Inc. 5,000 List

New York, August 24, 2007

Inc. has named RAND Engineering & Architecture, PC to its first-ever Inc. 5000 list of the fastest-growing private companies in America. RAND, a 75-person firm that services residential, commercial, and institutional properties, had a three-year revenue growth of 94.5% from 2003 to 2006, ranking it at number 3,272. (The company's 2006 revenues were $6.1 million.) RAND was the only New York City-based architectural or engineering firm to make the list.

The company, founded in 1987, attributed its solid growth to the continued strength of the New York City real estate market, especially residential condominiums and cooperatives, the mainstay of RAND's business. "Owners realize the importance of investing in major capital improvements to maintain the value of their properties," said RAND President Stephen A. Varone, AIA. 

Varone also pointed to the effect that New York City Local Law 11/98 has had on the architectural/engineering and construction industries. The law, which requires buildings more than six stories tall to have their exterior walls inspected every five years and owners to fix unsafe conditions, has led to an unprecedented number of exterior repair and maintenance projects. "The demand for engineers, architects, and contractors has been greater than I've seen in 20 years," Varone said. "We expect the increase in business to continue straight through to the next facade inspection cycle beginning in 2010."

Condo Developments and Conversions

Additionally, the relentless march of new luxury residential developments, as well as the conversion of hotels and rental buildings to condominium properties, has placed engineering and architectural firms in high demand. To handle the steady stream of new projects, RAND has increased its staff from 40 to 75 in the past three years and more than doubled its office space to 20,000 square feet. "The challenge for us now is to recruit and retain qualified people who can help us handle the increased work load and maintain our growth into the future," Varone said. 

The Inc. 5,000 profile on RAND noted its many years with an office cat "on staff," a reflection of the firm's relaxed company culture. Other perks include in-house yoga; a recreational room with pool table, board games, and collection of employees' travel souvenirs; regular company outings; and, coming soon, an onsite gym. "In a tight labor market, we know that to attract top talent we have to offer that little bit extra," Varone said. 

Inc. magazine extended its 25-year-old Inc. 500 list to 5,000 companies for the first time this year. The list ranks firms based on their percentage of revenue growth from 2003 through 2006. To qualify, companies had to be based in the U.S., privately held, independent (not subsidiaries or divisions of other companies), and have had at least $200,000 in revenue in 2003 and $2 million in 2006. 

The construction industry represented the largest category in the Inc. 5,000, accounting for 561 companies with $27.1 billion in total revenue.

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RAND Engineering & Architecture, DPC
159 West 25th Street | New York, NY 10001
P: 212-675-8844 |