Pros
Exposure to all market verticals within an isolated market. Experience in all facets of construction (i.e. accounting, cost, engineering, design, etc.) Exposure to high level employees and how to deal with senior management at an early stage in your career. If you can stick it out long enough, you will advance within the company. Salary is competitive, if not slightly better than industry standard. Annual cost of living salary increase for just about all employees (minimal but still nice).
Cons
Lack of communication within the organization. Often times senior management makes commitments without communicating to the project staff. Work-life balance is preached as a critical component to success, but rarely is it practiced or accepted. The company was built with a good old boys mentality, so senior management will anoint a "chosen one". If you're it, you can really do no wrong. Promotions based on merit don't really exist. More who you know, then how well you perform. You will need to fight for anything more than a marginal raise. A-type personalities thrive. Generally you are considered "successful" if you can force your will upon someone else (i.e. yelling at a subcontractor).