News Summary
Cooper Tacia, a Raleigh-based general contractor, is expanding its operations despite economic challenges. With projects like a kiln-dried lumber facility and a biofuel plant, the company is diversifying its portfolio in response to market demands. Following a successful pivot to public projects during the pandemic, Cooper Tacia is set to open new offices in Atlanta and Washington, D.C., while exploring emerging sectors such as wastewater management and hospital construction.
Cooper Tacia Continues Expansion Amidst Economic Challenges and Strategic Diversification
Raleigh-based general contractor Cooper Tacia is making bold strides in the construction industry, unveiling ambitious plans that are set to reshape its operational landscape despite ongoing economic challenges. With a formidable portfolio of projects across the Southeastern United States, including a 60,000-square-foot facility dedicated to kiln-dried lumber in Ackerman, Mississippi, and an expansive 126,000-square-foot biofuel facility in Epes, Alabama, the company is capitalizing on growth opportunities within various sectors.
Founded in 2003 by John Cooper, who currently holds the roles of president and CEO, Cooper Tacia has consistently demonstrated resilience in the face of adversity, building a versatile portfolio comprising industrial, commercial, governmental, and educational buildings, alongside multifamily developments. Last year alone, the firm reported an impressive revenue figure of approximately $100 million.
A Journey Rooted in Resilience
The path leading to Cooper’s successful enterprise began in 1996, when he and a friend embarked on a unique venture by collecting wood from yard clean-ups after Hurricane Fran. These early entrepreneurial experiences, shaped by his upbringing in a trailer park, inspired Cooper’s ambition to create something impactful. His journey culminated in the establishment of Cooper Tacia, initially known as Southeastern Properties.
Notably, the firm faced significant challenges during the Great Recession from 2007 to 2009, experiencing a staggering 60% drop in home sales alongside dwindling cash reserves. However, it was during these tough economic times that Cooper’s firm exhibited remarkable agility, pivoting to construct restaurants and establishing a solid reputation within the Raleigh dining scene.
Diverse Revenue Streams and Strategic Shifts
Cooper Tacia’s success can be attributed in part to its ability to diversify revenue sources, with approximately 30% to 40% of income derived from industrial projects and another 30% stemming from educational construction. The remaining revenues come from community centers and municipal works, showcasing the firm’s adaptability and foresight.
As the COVID-19 pandemic dealt a heavy blow to many businesses, Cooper Tacia shifted its focus toward public projects, winning significant contracts for elementary schools and airport hangars. This strategic move allowed the company to recover from a loss of 80% of its work in early 2020.
Future Expansion Plans and Growth Opportunities
Currently employing around 70 staff members, with 35 located in North Carolina, Cooper Tacia enjoys a competitive edge as one of the larger contractors within the state. The firm has set its sights on geographical expansion, inaugurating an Atlanta office in 2024 and planning a new establishment in Washington, D.C. by 2026. This strategic growth is indicative of the company’s ambition to broaden its reach.
As part of its forward-thinking philosophy, Cooper Tacia is exploring opportunities in emerging sectors, such as wastewater management, hospital construction, and chemical plants. This diversification strategy is anticipated to bolster the company’s growth trajectory in the years to come.
Key Partnerships and Economic Contributions
The expansion of cooperating partner Southeastern Timber Products in Ackerman is also noteworthy, with a sizable $123.4 million investment expected to yield 40 new jobs over the next two years. This growth will double Southeastern Timber’s production capacity from 120 to 300 million board feet of lumber annually, supported by the Mississippi Development Authority’s assistance through its Flexible Tax Incentive program.
Cooper Tacia’s collaborations with long-standing clients such as Enviva Biomass, which remains an essential partner post-restructuring, further emphasize the company’s ability to cultivate enduring business relationships.
The construction sector significantly contributes to North Carolina’s economy, accounting for approximately $41.67 billion of the state’s GDP; a trend that continues to show promise despite the challenges of rising labor and material costs.
As Cooper Tacia continues to navigate this complex economic landscape, its strategic diversification, resilient mindset, and targeted expansion efforts position the company for sustained success moving forward.
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Additional Resources
- Business NC: John Cooper Structures His Growing Raleigh Contracting Firm
- Wikipedia: Construction
- Magnolia Tribune: Southeastern Timber Products Announces $123 Million Expansion
- Google Search: Southeastern Timber Products expansion
- HBS Dealer: Southeastern Timber Products Plans Major Mississippi Expansion
- Google Scholar: Southeastern Timber Products
- NY Times: Housing Plan by Harris and Trump
- Encyclopedia Britannica: Housing Economy
