Dec 28 2017 18063 1 ORLANDO CONSTRUCTION

Dated: 12/28/2017

Views: 132

A new report from Dodge Data & Analytics shows Orlando-area construction companies pulled permits valued at $674.07 million in November, an increase of 553.5% compared to $103.14 million in November 2016 value for commercial projects in Orange, Seminole, Osceola and Lake counties.

Area homebuilders didn't do as well in November, pulling permits valued at $346.69 million compared with $356.02 million in the year-ago period, a drop of 3%. Together, commercial and residential construction accounted for $1.02 billion in total project value in November.

Those combined building permit values for the first 11 months of the year were up 122.3% compared to $459.17 million a year ago.

New construction is a huge driver of the local economy, generating both temporary and permanent jobs and bringing new homes into the market to support a growing population. It also serves existing residents and businesses with new space for shops, offices and warehouses, and brings more venues to Orlando’s tourism industry, which drew a record 68 million visitors in 2016.

Typically, the higher the value, the more construction jobs a project general!

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