For the fourth year in a row, Precision Construction Services has ranked in the top half of the Inc. 5000 list of fastest-growing private companies in America. At No. 2,342 and with a remarkable three-year growth rate of 182%, Precision is also among the Top 5 general contractors in California and a rare, four-time honoree. In the history of the Inc. 5000, only 5.93% of honorees have reached this milestone.
The rankings cap 12 years of remarkable accomplishment and growth for this award-winning commercial construction firm. Precision’s contributions to the industry, the community and the local economy have earned the U.S. Small Business Administration’s 2024 Prime Contractor of the Year Award, Pacific Region, and the SBA’s 2023 Small Business of the Year for the State of California. The firm has been recognized by a joint State Resolution by Senator John Laird and Assembly Member Dawn Addis, a State Congressional Certificate from Congressman Salud Carbajal, and by the San Luis Obispo County Board of Supervisors. After winning the Spirit of Small Business Award in 2022 and 2024, Precision was named the All-Star honoree by the SBA and the Pacific Coast Business Times last month.
Precision’s local projects include a 125,000- square-foot wine facility in Paso Robles, a rocket landing facility at Vandenberg Space Force Base and building modernizations at Diablo Canyon Power Plant. Recently, Precision began design and construction of a three-story mixed-use building in downtown San Luis Obispo. The firm is also working on specialized technical projects such as a nuclear fusion test facility on California’s Central Coast and a rocket test stand at the Mojave Air and Space Port.
“Sustained growth is possible only with the combination of a boundlessly dedicated team, clients who place great trust in you, and a community that supports what you do,” said Erik Wright, one of Precision’s three principals. “We are incredibly grateful to be a part of this dynamic region in California, and we’re excited about all that’s ahead.” Founders Karl Vaillancourt, Jared Malapit, and Erik Wright at Precision’s headquarters in San Luis Obispo.
The Inc. 5000, produced every year since 1982 by the business media publisher Inc., is the country’s most prestigious ranking of independent businesses. In addition to providing a data-driven snapshot of this dynamic segment of the economy, it also offers an early glimpse of companies that have gone on to become part of American life. It was the first national exposure for previous honorees including Meta, Chobani, Microsoft and Patagonia.
Precision Construction Services is a full-service commercial construction firm, offering design-build, general contracting and construction management services throughout the Western U.S. Its clients range from private aerospace firms and real estate developers, to federal, state and local government agencies and nonprofits. Precision’s regional projects include a major barracks renovation at Fort Irwin Army Base and the expansion, modernization and seismic retrofit of the Honor Rancho Natural Gas Storage Facility in Santa Clarita, CA, where the highly sustainable design and construction earned LEED Gold Certification.
Founded in 2013, Precision is owned by Jared Malapit, Karl Vaillancourt and Erik Wright, three friends who connected over a shared passion for rock climbing. With complementary backgrounds in construction, they created a company dedicated to challenging construction’s status quo and fostering collaboration among owners, architects, engineers and contractors. That relationship-centered approach helped Precision thrive through the recent years of inflation, economic uncertainty and a fluctuating job market. The companies on the 2025 Inc. 5000 were ranked by the revenue growth achieved between 2021 and 2024.
“We focus on hiring and developing the best talent, then just keeping our heads down and working hard,” Wright said. “We’re trying to be the best construction firm, one step at time.”
The complete 2025 Inc. 5000 List can be found online and in the fall issue of Inc. magazine. Inc. reports that the companies on the list generated 1,161,466 jobs and more than $300 billion in total revenue.
“Making the Inc. 5000 is always a remarkable achievement but earning a spot this year speaks volumes about a company’s tenacity and clarity of vision,” said Mike Hofman, Inc.’s editor in chief. “These businesses have thrived amid rising costs, shifting global dynamics and constant change. They didn’t just weather the storm, they grew through it, and their stories are a powerful reminder that the entrepreneurial spirit is the engine of the U.S. economy.”