Florida Contracts Keep Building Momentum in April

All three of Florida’s construction categories improved in April, combining for a 17% overall gain in the value of new contracts, compared to a year ago, according to McGraw-Hill Construction. In total, Florida contractors gained nearly $2.4 billion in new business during the month.

The nonbuilding sector, which includes infrastructure projects, jumped 27% and was the largest category for new work in April, with just over $1 billion in new contracts moving forward.

At roughly half the volume, Florida’s nonresidential market generated an estimated $503.1 million in new contracts during April, for a 19% gain over the same period of a year ago. Residential contracts also reflected increased activity, bumping up 7% for a $880.2-million total.

Through April, McGraw-Hill Construction estimates new Florida construction contracts at approximately $9.3 billion, or 27% better than the nearly $7.4 billion recorded through April of 2011.

All three sectors are well ahead of 2011’s early pace so far.

Most improved is the nonresidential market, which has jumped 34% so far in 2012, delivering nearly $2.3 billion in new contracts. With just over $3.6 billion in projects started so far this year, the residential sector is Florida’s largest generator of new contracts, according to McGraw-Hill, with a 26% gain over last year.

Close behind is the nonbuilding category. Its roughly $3.4-billion tally is 24% ahead of 2011’s early 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.