February 23, 2024
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Precision Construction wins federal award

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Precision was founded in 2013. (courtesy photo)

San Luis Obispo-based Precision Construction Services received one of the Small Business Administration’s highest honors, being selected as the Small Business Persons of the Year Award, the SBA announced on March 20.

The award recognizes Precision for both business success and local community contributions, the SBA said in a press release.

The company was founded by Jared Malapit, Erik Wright and Karl Vaillancourt in 2013, two years after the friend trio met at a rock climbing gym.

All three will be recognized on April 30 and May 1 during the SBA’s National Small Business Week awards ceremony in Washington, D.C. At the event, one of the winners from the 50 states, the District of Columbia, and Puerto Rico will be announced as the 2023 National Small Business Person of the Year, the press release said.

Precision’s federal clients include the U.S. Army Corps of Engineers, Navy, Air Force, Coast Guard, General Services Administration, Bureau of Prisons, National Park Service and CDC.

Precision also specializes in high-security facilities, including ongoing projects for the Missile Defense Agency at Vandenberg Space Force Base.

Precision supplies design-build, general contracting, and construction management services. The company, in addition to its headquarters on California’s Central Coast, has offices in San Diego, Los Angeles, Spokane, Washington and Kona, Hawaii.

This also marks another nod of recognition Precision, a design building contractor, has received in the past year alone.

Precision was an honoree in the Pacific Coast Business Times’ Spirit of Small Business Awards in 2022 and received recognition as one of the fastest-growing companies in the region by the Business Times as well.

Similarly, the Inc. 5000, which ranks the top 5,000 fastest-growing companies in the country, recognized Precision No. 266 on the list, the highest of any San Luis Obispo County company, with a three-year growth rate of 2,027%.

Precision was just one of 253 construction companies to make the list and, of those, was ranked No. 9. It was the fastest-growing construction company based in California, according to Inc.’s rankings.

The company told the Business Times in July 2022 that it had cleared $20 million in revenue in 2021 and was on pace to clear upwards of $30 million in 2022.