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Metro area construction contracts jump 11% to $2.8 billion

The value of contracts for future construction in

The value of contracts for future construction in the metropolitan area rose 11 percent in February 2017. This construction was underway on March 30, 2016, in Westbury. Credit: Johnny Milano

The value of contracts for future construction in the metropolitan area rose 11 percent in February compared with a year earlier as nonresidential activity soared.

Dodge Data & Analytics, an industry information service, reported Thursday that contracts worth $2.8 billion for future building were awarded last month for the 23-county region, centered around New York City, that includes Long Island. That’s up from $2.6 billion in 2016.

Nonresidential contracts for commercial properties such as offices, hotels, factories and warehouses climbed 70 percent to $1.7 billion.

Residential contracts totaled $1.1 billion, down 29 percent year over year.

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