Suffolk’s New Diversification Strategy Plays Well In Florida

MIAMI—Boston-based construction contractor Suffolk recently launched a diversification strategy focused on expanding into additional service lines to create a fully-integrated platform beyond its construction core competency.

Suffolk has a major presence in Florida. The company has 450 employees in the state, 250 of which are based in South Florida. Peter Tuffo, president and general manager of the Southeast for Suffolk, recently offered his insight to GlobeSt.com about the company’s outlook for Florida. He notes that while housing has slowed in Miami, the forecast for the Florida construction industry calls for substantial growth, according to the Florida Dept. of economic opportunity.

“Florida is currently the No. 1 moving destination in America, according to a recent U-Haul report, and to accommodate this demand, multifamily development—from luxury to rental to senior living—is thriving.” Tuffo says. “For example, Suffolk has multifamily projects in the works across South Florida including the Bristol in West Palm Beach, the Ritz-Carlton Residences Sunny Isles Beach, 2000 Ocean in Hallandale and Royal Palm Residences in Boca. Additionally, we’re working on two senior living projects, Inspired Living Delray and Inspired Living Royal Palm Beach; as more baby boomers retire and as South Florida continues to attract snowbirds and retirees, we expect the senior living market to continue to expand.”

Tuffo says Suffolk will also be focusing on the hospitality, gaming and transportation segments.

A convergence of a thriving market and complex building projects in South Florida are among factors affecting workforce supply. To address this issue, Tuffo says, Suffolk looks to both accurately manage workflow through its central purchasing department and recruit the best candidates by offering diverse training and highly-coveted benefits.

“Suffolk takes pride in our on-site Trade Partner Experience. We want to ensure that our trade partners have an enjoyable experience working on our sites, including amenities like picnic table eating areas, clean restroom facilities, hand wash stations, and fans/cooling stations. Additionally, our Trade Partnership Series assists certified trade partner firms in fostering long-term relationships and developing their industry skills. Over the past few years, we’ve held the program in Miami and Tampa with over 20 graduates.”

Suffolk’s Career Start program rotates new employees throughout the company’s main operational areas over a two-year period, helping them gain a complete understanding of daily responsibilities of each team member and department. The program offers new employees a distinct advantage, according to Tuffo, helping them understand how all the pieces come together to create a successful and profitable construction project. To help recent grads, Suffolk recently launched a student loan reimbursement program. Suffolk contributes $100 per month toward qualified student loans for eligible employees.

Tuffo says Suffolk’s diversification strategy will focus on expanding services beyond its core construction capabilities. The company sees the biggest opportunities in real estate funding, design, technology investment and research and development.

“As part of the strategy, we also launched a contemporary brand positioning and identity that reflects Suffolk’s forward-thinking outlook, reflects our broader future ambitions, and differentiates us and our unique business model and capabilities,” he says. “As a result of this diversification strategy and rebranding, Suffolk will be positioned to add value across the entire lifecycle of a building, from investing at the earliest stages of development to design, materials purchasing, risk management, construction management and self-perform services during the design/construction stage and facilities management after the building is completed and operational.”