🔒Ciarcia’s precision, personality pave Costello’s road to success

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Michael Ciarcia, chief financial officer of Newington-based Costello Industries, is more than a number cruncher.

According to his boss, Costello CEO John Costello, Ciarcia is integral to the company's ability to win multi-million dollar projects, gives back to the community, and serves as a coach and mentor to staff. 

“Michael is an excellent manager of people. He is a spirited co-worker who leads by example,” said Costello, the company owner. “The world is full of finance guys who can crunch numbers, pay bills and collect money owed. But what is rare is to find someone who excels in these tasks and can also build and maintain a highly motivated, committed and professional team.” 

Costello said Ciarcia is perfect for a job where there never seems to be a dull moment. Since the end of World War II, Costello Industries has been working with cities, towns, states and the federal government to repair and rebuild roads and bridges. 

The company bids on contracts up and down the East Coast, but Connecticut has been a hotbed. 

“We all know that we have a governor who loves to spend money on transit,” Ciarcia said. 

Costello currently has a pair of significant state contracts bid through the state Department of Administrative Services, Ciarcia said. 

One is a two-year deal for the milling of all state roads that still has a year remaining. The second is a contract to repair and replace the joint sections on the bridges along state highways, Ciarcia said. 

Managing such contracts, which require requests for qualification (RFQ) packages to be sent to DAS and the state Department of Transportation, can be tricky business and those responsibilities rest squarely on Ciarcia's shoulders.

Bidding through RFQs requires precision and timing to accurately estimate a project's scope and price. The process also places a company's reputation on the line.

“Mike handles it all very well,” Costello said. “Mike's work is quality. You can't trust any Tom, Dick or Harry to work on qualifications with the DOT. It's all about trust with Mike.”

Ciarcia, 41, joined Costello Industries in Jan. 2013.  He has an accounting background and has held financial leadership positions in several industries for more than a decade.  

As Costello's CFO, Ciarcia is responsible for the day-to-day financial operations of the firm. He works closely with the company's business partners, corporate finance team and field-level supervisors.

One recent major contract Ciarica helped Costello Industries win was a subcontractor role to Tilcon Connecticut in a project to resurface Route 2. 

“These are not easy contracts to bid on,” Ciarcia said. “Every state is different and everything has to be complete and accurate.”

And it all comes together with a team approach. 

“Mike is like your favorite coach,” Costello said. “He is demanding but fair and right by your side when the workload gets heavy, teaching but never being overbearing. Mike can be a boss but also a friend who knows exactly where to draw the line when it comes to the business at hand.”

Ciarcia's work is so good that it allows Costello to forget about contract bidding and spend time on job sites, Costello said. 

“I can trust Mike with the details of, say, a $25 million contract,” he said. “And trust is pretty high on the totem pole. As a business owner, trust like that is a huge factor because it then allows me to visit the sites. I can concentrate on quality and safety because the site is where the money is made.”

Ciarcia joked that he could be considered a glutton for punishment, but in his spare time he volunteers to help oversee the finances of Windsor Locks, where he was born and raised. 

He is currently in the fourth year of a six-year term on the town's board of finance. 

“There is no pay, of course, but I want to be there,” he said. “It is an opportunity to lead the town and there is really not a lot of stress on the board.”

Ciarcia said things can get pretty intense and volatile around municipal budget time, especially if voters reject the budget several times over several townwide votes. 

“But it is something I can do to help out the town,” he said. 

Michael Ciarcia

The Basics

Name of organization: Costello
Industries Inc.

Title: Chief Financial Officer

Size of organization: 75 employees

Education: Bachelor’s degree in business administration (accounting focus) from Bryant University

Previous job(s): i-Health Inc., Cantor Colburn LLP, Arthur Andersen LLP

On the job

Guiding business principle: If you do not want to see it printed on the front page of the newspaper, don’t say it or do it.

Best way to keep your competitive edge: Earn the trust and support of those you work with so you can focus on the business issues that are truly important and urgent. 

Best business decision: Embracing and continuing to develop trusted business advisor relationships with our bank, commercial lines insurance carrier, surety bonding company, business insurance broker and tax accountant. While we are a private company, we operate in public space with the federal government, various state Departments of Transrtpoation and local municipalities. The close business relationships that have been fostered over many years make it easier for me to do my job. 

Worst business decision: I regret not forcing myself to spend more time in the field educating myself about what our 65 unionized employees do on a daily basis to make our roads and bridges safer for the traveling public. 

Biggest missed opportunity: In addition to working full-time as the CFO for Costello Industries, I own a real estate investment and property management company that I started in part as a result of the recession that hit in 2007. Real estate prices were driven down and there were some fabulous bargains to be had. However, a lack of experience and access to capital at that time meant some great deals slipped through the cracks.

Goal yet to be achieved: Reaching financial independence

Personal touch in your office: Picture of my wife, Carrie, and my daughter, Ally

Personal side

City of residence: Windsor Locks

Favorite way to relax: Family bike rides along various bike trails in north central Connecticut.

Hobbies: Local politics, running 

Last vacation: Family trip to Washington D.C. in April 2015

Favorite movie: “Wall Street” 

The car you drive: Porsche Boxster

Currently reading: “The Reagan Diaries” by Ronald Reagan, edited by Douglas Brinkley

Favorite cause: Anything to make Windsor Locks a better place to live and raise a family

Second choice career: Real estate broker

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