CPBJ reports: Commercial construction in the Mid-Atlantic region is trending back up to 2008 levels, according to a new report from Harrisburg-based Mid Atlantic BX.
There were a total of 1,356 commercial projects in May, the trade association said, which was down from 1,430 last May.
Mid Atlantic BX tracks projects in central and eastern Pennsylvania, southern New Jersey, northern Maryland and Delaware.
However, 2011 is on pace to exceed the year-end total in 2010, said Nate Pigott, an association spokesman.
Through the first five months of the year, there have been 6,365 commercial projects, which is up from 6,202 at this point last year, he said.
“We are slightly ahead of our 2010 numbers, which is a good indication that the industry is slowly starting to stabilize,” Pigott said.
In 2008, there were 6,423 projects through May. In 2009, that number dropped to 5,876, Pigott said.
“It’s sputtering upward,” he said. “We do see a little more activity.”
There are currently 5,739 commercial projects in various stages that are worth nearly $32 billion in estimated value, he added. Pennsylvania accounts for about 65 percent of the association’s listings.
Central Penn Business Journal.
This is great news. Though the economy has been slow to improve this is reassuring. It means that jobs will be created and spending is on the rise.
Agree – anecdotally, my contacts in the construction industry tell me the firms that survived are seeing an uptick in orders. This general trend is borne out, at least in south central PA, by a steady and continued fall in the unemployment rate.
nice post!
i cant share this link : https://www.lancastercommercial.com/2011/06/13/mid-atlantic-commercial-construction-on-the-rise
am i doing it wrong ?
Thanks for the kind words. Try using “http:” instead of “https:”. The site is not secured with HTTPS. Regards, John Thiry