McCarthy Shutting Down Northwest Division

PORTLAND-After 10 years of losing money and no profit in sight, St Louis, MO-based McCarthy Building Cos. is giving up on its Northwest division. The move affects some 80 jobs in Portland and Seattle.

Spokespersons for national commercial contracting firm told reporters late last week that it has never turned a profit with the division and didn’t see it happening any time soon. Indeed, the company said revenues for its current fiscal year, which ends in March, will top out at around $80 million, nearly a 30% drop from the $110 million it generated in 2000.

McCarthy opened its first Northwest office in 1991 in Bellevue by acquiring general contractor SDL Corp. The Beaverton office, which was being shut down last week, opened in 1996 and had big hopes after landing the $100-million Round at Beaverton Central contract shortly thereafter. In 1999, however, with two buildings half erected, the developer declared bankruptcy, leaving McCarthy high and dry.