What a Year it has Been!
As we are looking to wrap up 2022, we reflect on all that has taken place at ICG and in our industry this past year. Through unprecedented construction starts, lumber costs that reached all-time new highs, supply chain shortfalls, a continuation of COVID, wars, and many other factors that could have made 2022 a poor year. For us and our industry as a whole, we are pleased with how 2022 is ending.
ICG opened our second manufacturing facility in Florence SC. We expanded our Green Cove Springs plant to nearly 400,000 sq feet. We invested and brought in the most state-of-the-art technology possible to both plants. We have placed a focus on training and customer service. We now employ nearly 450 people from Florence to Orlando. We have centered our company on our culture and we have set our sights on an even bigger and better 2023.
Single-family residential construction is softening, and we feel it will continue to do so for 2023. We see this upcoming time in our industry not only as a challenge but more so as an opportunity to become better at all we do. We will use this time to become more efficient, to reflect on what we have learned in the past year, and to incorporate new techniques and processes into the business that will prepare us for the resurgence we are sure will come. Our goal is to be the most respected company in the off-site industry, and we will only accomplish this goal by having the very best team possible.
Multifamily remains strong, and we believe, as long as financing remains available this segment will carry the industry for the majority of 2023. In our eyes, the multifamily industry has an opportunity to build affordable housing our nation needs at this time, and we are excited to be a part of this segment.
ICG is thrilled about the upcoming year and we want to take a moment to thank all of our employees, suppliers, and customers for your support and dedication in 2022. We want each of you to know how very important you are to us and that we are focused on making your experience with ICG the best that it can be.
Have a blessed end of the year and we look forward to being with and working with you all in 2023!