Turner Construction has been the mastermind for scores of head-turning projects for more than a century. The company that built Madison Square Garden has ranked among the leading general builders in the US since the early 1900s. Turner provides construction and project management services for commercial and multifamily buildings, airports, and stadiums, as well as correctional, educational, entertainment, and manufacturing facilities. The company is also a leader in sustainable or green building practices. Founded in 1902 by Henry Turner, the company is the main operating unit of The Turner Corporation, which is a subsidiary of German construction group HOCHTIEF.
As part of its business, Turner works on more than 1,200 projects each year that altogether represent $8 billion in construction volume. For decades Turner has kept tabs on construction prices with its quarterly Building Cost Index, which forecasts construction costs by taking into account labor rates, productivity, and material prices. The index is used by federal and state governments to track building costs and pricing trends.
Turner's ties to HOCHTIEF have helped strengthen the company's services and extend its international reach. Turner often teams with sister company Flatiron to complete projects. By collaborating and marketing their services jointly, the two companies combine strengths in refurbishment and construction services. As the residential markets have slowed in recent years, Turner has increasingly focused on securing commercial projects in the public, health care, and science and technology sectors. Sports projects have also provided the company with a solid pipeline; the company's dedicated sports division has completed some $5 billion in work since 2000. Turner is also working to meet growing demand for green and sustainable construction. More than 425 of its projects have earned Leadership in Energy and Environmental Design (LEED) certification. A few of its green projects include the Seattle office of Perkins+Will, the Yale University Health Services Center, and RAND corporate headquarters.
Mergers & Acquisitions
To expand its operations in Canada, Turner in late 2011 agreed to partner with Clark Builders in a deal that gives Turner a 51% stake in the Edmonton-based company. For the effort, Clark Builders gains access to Turner's financial and management resources. The alliance strengthens Turner's Toronto and Vancouver foothold and helps to extend the reach of the company's business into other Canadian markets.
The company operates in North America, as well as in East Asia, Europe, India, Latin America, the Caribbean, and the Middle East.
Other notable projects in Turner's history include the World War II Memorial in Washington, DC, the John F. Kennedy Memorial Library in Boston, and the Rock and Roll Hall of Fame. Turner also built the new Yankee Stadium in New York. The company reached a milestone in 2008 by inking its 15,000th major contract.