1990-1999
Granite Goes Public
In 1990, Granite Construction Incorporated entered the public market as GVA on the NASDAQ Exchange (later moved over to the NYSE) with an initial public offering (IPO). By the end of this decade, Granite would reach the $1 billion mark in annual revenues and expand into new markets.
Now that Granite had the ability to raise capital through the stock market and was freed from the constraints of repurchasing employee stock, there was nothing stopping the company’s growth.
The company continued to expand its footprint. In acquiring like-minded businesses and turning them into branch offices, the company was able to secure an aggregate source, serve the local community and grow the business. Helping to fuel its nationwide growth, Granite broke into the Utah and Florida markets through acquisitions.
Paying close attention to what their partners did drew Granite into the design-build arena as a pioneer, helping to push the company into the forefront of a national shift in the way that bridges, highways and other infrastructure projects were built. In 1996, the $800 million San Joaquin Toll Road project marked Granite’s expertise in design-build projects.
In its second Olympic-related project, Granite was awarded construction of I-75 in Atlanta to help prepare the city to host the 1996 Olympics, Granite's first significant project in the Southeast Region.