A local construction company based in Vancouver, Washington, Larry O. Collins Inc., might be the latest victim of the construction industry’s decline. According to a report, the construction company ceased to operate after 78 years, as its principals, the founder’s grandchildren, decided to close the still-solvent company. But, the Collins family still continues to run its equipment rental and real-estate leasing businesses from the company’s head office at Hazel Dell, Clark County.
Inline with the construction industry’s decline, Volvo Construction Equipment’s headquarters in Biltmore Park is now closed, according to company information, Volvo will be uniting its production, sales and engineering operations and will just relocate to Shippensburg, Pennsylvania.
According to Casey Collins, principal at the recently closed construction company, Larry O. Collins Inc, said that the firm’s closing is a crucial decision the family has to make so that they can still pay their debts, while the shortage of construction projects whether residential or commercial, poses too much risk for the construction company to remain in business.
After the construction boom in Clark County, the construction company has been struggling long enough. According to company information, Larry O. Collins Inc has generated about $8 million in gross sales annually during the construction boom.
The construction company lost its latest and last bid to turn the Columbian-building-into-the-city’s-new-city-hall $2 million development project.
The executive director of the Southwest Washington Contractors Association said, the construction industry’s decline has affected the construction company, and all other contractors in Washington.