Metro area construction contracts up 2%
The value of contracts for future construction in the metropolitan area rose 2 percent in October compared with a year earlier.
Dodge Data & Analytics, an industry information service, reported Tuesday that contracts worth $3.9 billion for future building were awarded last month for a 23-county region centered on New York City that includes Long Island. That’s up from $3.8 billion in October 2016.
Last month, residential contracts climbed 43 percent to $2 billion, year over year.
Nonresidential contracts for commercial properties such as offices, hotels, factories and warehouses totaled $2 billion, a drop of 21 percent from October 2016.
James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.
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