Steady growth during the economic downturn has prompted Vancouver’s Omicron to expand to Victoria.
The private architectural and construction company, which generates more than $100 million in revenue and employs about 200 staff, has operated in Vancouver and Calgary since June 2009 when it acquired Calgary-based BCMP Architects and added principals of that company to its ownership group.
“Calgary has rebounded in a big way for us,” Omicron CEO Bill Tucker told Business in Vancouver March 7.
He estimated that the company’s revenue is 15% above where it was two years ago.
“We’ve been in Victoria the last few years, but we decided to put down more permanent roots for some of our staff who were over there [working out of client sites].”
Omicron manages construction projects from the planning, rezoning and assembly of land to the design and engineering of the buildings.
Statistics Canada released numbers March 7 showing that non-residential building permits in B.C. in January were down more than 48% from December.
Experts such as Independent Contractors and Businesses Association of B.C. (ICBABC) president Philip Hochstein interpreted the figures to mean that great value can be found in building projects now because the cost of construction is so low.
Tucker agreed. “There is a window here. Who knows how long it will be. It won’t be forever. It will be for sure at least three to six months,” he said.
“Anyone who is in the real estate facility business for the longer term should look now to invest their money.”