At age 31, Peter was now majority shareholder and President of the employee-owned company. At the same time, the country was sinking into the Depression.
With building work going at or below cost, it was clearly time to refocus the company. Most of the contracts available were in heavy and highway construction, so Peter led the company into that market.
During this time, Peter assembled a core group of talented people who would later help him build Kiewit into one of the leading construction firms in North America. This core group included Walter Scott (whom Peter had recruited in 1926 for the Nebraska State Capitol job); Homer Scott (no relation to Walter); George Holling; and Ted Armstrong. All became directors and major shareholders of the company.
In the mid-1930s, the company broadened its highway business to neighboring states, including Wyoming, Colorado and North Dakota. In 1939, Homer Scott opened the first district office in Sheridan, Wyoming. It would mark the beginning of the company's system of decentralized district offices.