Route 12 South: A Barometer On The Construction Industry
Paul Davis Restoration and Remodeling of Central Massachusetts
1023 Southbridge St., Worcester
"Generally, when things are going really well, it's very difficult to get good subcontractors or employees. When things aren't going well, guys are calling us every day. We have guys coming in on a regular basis, and they're looking for work," he said.
Those "guys" are self-employed contractors or carpenters who have been laid off. Stone said he has one such employee currently who typically would only work for his firm for three or four weeks.
But, "This year's only three or four weeks old, and he's been here all year," Stone said. "And I'm assuming he's going to be with us right through the end of February."
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But how is it that Stone is in a position to hire anyone if the construction industry is in such despair?
It's because Paul Davis Restoration and Remodeling has three distinct areas of business, the most prominent of which is insurance restoration. And the need for companies that do insurance restoration is almost inexhaustible.
"We go and repair damage caused by fire, floods," Stone said. "Typically, we're referred by the insurance agent or the insurance ad-juster." And Paul Davis, a network of restoration and re-modeling shops across the country, has longstanding relationships with insurance companies around the country.
Paul Davis also responds to emergencies - floods and fires - in much the same way. Stone's seven-man response crew will show up on scene and make the site a clean, safe, livable place once again.
Stone's 13 employees also do a bit of residential and light commercial construction, including design-build work or corporate lobbies, board rooms, doctors' offices, municipal buildings and churches.
The diversification helps, but it doesn't make Paul Davis immune from larger economic forces.
About one year ago, before mortgage troubles became a full-blown crisis and before the national economy began its decline, Stone had 22 employees.
Those two economic forces showed Stone that his timing may have been bad. "We were in an expansion mode, and we were building as our business was shrinking," he said.
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