Ten years after arriving from Italy at age 12, Anthony Rizzo Sr. borrowed $400 to buy a work truck and start a small electrical contracting business in Danbury.
For years, Rizzo and his wife, Joan, ran A.M. Rizzo Electrical Contractors out of the basement of their two-family home, with a backyard toolshed serving as a workshop.
As it celebrates its 50th anniversary this year, The Rizzo Companies ”“ now led by CEO Anthony Rizzo Jr. ”“ has more than 125 full-time employees and more than 200 employees total, a fleet of 150 vehicles and annual sales of close to $50 million.
In addition to A.M. Rizzo Electrical Contractors, The Rizzo Cos. ”“ which has been based in Danbury since its formation ”“ includes general contractor Rizzo Corp., which was established in 1981, and JAR Associates, a real estate holdings division that was established shortly after Rizzo Sr. founded the company.
The Rizzo Cos., which initially served residential and small commercial properties, today works primarily with larger corporate and government clients, and has contracts totaling about $110 million.
Despite working in industries that have seen drop-offs in business due to the slow economy, “America is still the land that gives you the opportunity to do whatever you want,” said Anthony Rizzo Jr., whose parents are still active in the business.
The company”™s strength has been its move to diversify, Rizzo said, noting that The Rizzo Cos. expanded its services during the recession with the addition of a communications division around 2008 and an environmental division a year later.
“When you”™re managing any business, you”™re also managing personalities and changing economic times that you”™re working through,” said Rizzo, who started working for his father”™s company in the 7th grade and who has been at the helm since age 26. “During this tough economic time, we relocated (within Danbury) because we expanded the size of our offices and services. …Given the economic times, I”™m pleased with that accomplishment.”
Asked whether demand is returning for contractors, Rizzo said, “To the level that I would like, no.”
However, he said he is optimistic in the company”™s prospects.
“I think you have to be optimistic. Your people will feed off of the mindset of their leader,” he said, adding that he thinks government officials at the federal, state and local levels “will do what is right and they will work together” to help jump-start business.
Today, the company”™s A.M. Rizzo Electrical Contractors division is in the process of installing five electrical substations along the Metropolitan Transportation Authority”™s (MTA) New Haven line, a $31 million contract.
In addition, Rizzo Corp. is working with the MTA and the Connecticut Department of Transportation to construct a maintenance facility at the New Haven Rail Yard as part of an $18 million contract.
Through its JAR Associates unit, the company owns and manages more than 30 properties totaling more than 500,000 square feet of commercial, industrial, medical and retail space.
Rizzo acknowledged that many challenges remain, and said fluctuations in prices for commodities such as crude oil, steel and copper have had a major impact on The Rizzo Cos.”™ businesses.
“When my mother and father started the business, they had their obstacles,” Rizzo said. In taking over the company, “It”™s been a difficult road and there are lots of hurdles.”
He said the company remains in a strong position, with the third generation well on its way up the ranks.
