Puget Sound Business Journal
JTM Construction has a new leadership lineup but the faces remain the same.
The Seattle-based general contractor announced the changes Feb.1, with co-founder Martin O’Leary named JTM’s first CEO. He had been president, a role now filled by Benjamin Coffman, the fourth employee at the company, which launched in 2005.
Co-founder Tom Titus is stepping into an advisory role, handing off the chief operating officer role to Troy Bloedel. Bloedel and Coffman were promoted from vice presidents.
The moves come after JTM had its best-ever year, with revenue “north of $300 million,” said Coffman. The company reported revenue of nearly $273 million in 2022, making it the region’s largest 14th-largest general contractor.
“The market has definitely shifted,” said Coffman, who thinks revenue will fall in 2024, as JTM goes from doing its traditional large developer projects, like the $1 billion-plus Avenue Bellevue, to “smaller, bite-sized projects.”
The company is seeing more requests for proposals in recent months than we’ve seen in “a long time,” he said.
Read more: Transition plan unfolds with leadership changes at JTM Construction