South Carolina Contracts End 2011 With Solid Momentum

South Carolina contracts recorded across-the-board increases in December for a 38% overall spike in new work, according to McGraw-Hill Construction.

The company estimated the value of new nonresidential contracts at nearly $110 million in December, or 49% better than the same period of a year ago. Residential contracts picked up the pace, too, registering a 20% monthly gain on roughly $229.5 million in new work. The nonbuilding sector, which includes infrastructure contracts, roughly tripled compared to a year ago, for a $50.8-million total.

According to McGraw-Hill’s figures, the value of South Carolina contracts ended 2011 approximately 19% ahead of 2010’s volume. The nearly $7.8 billion in new 2011 contracts compared to the 2010 total of nearly $6.6 billion. The overall annual gain was the first for South Carolina since 2007, according to the company.

Nonbuilding was the most improved category, registering a 37% yearly gain with about $2.2 billion in new contracts. Nonresidential contracts improved by 20% overall in 2011, also with a total of about $2.2 billion. Residential contracts came in at nearly $3.4 billion for the year, or 8% ahead of 2010’s pace.

Scott Judy is Deputy Editor for Regions, and editor of ENR Southeast, one of Engineering News-Record's 10 Regional publications. His roughly 27 years as a construction journalist began with an 11-year stint covering Midwest construction projects. In 2000, Judy helped launch the publication now known as ENR Southeast. He often delves into controversial aspects of the construction industry such as bankruptcies and fatal accidents, and wishes he would never have to cover another accident but suspects that he might.