Two of Florida’s three construction categories experienced double-digit percentage gains in the volume of new contracts in October, according to McGraw-Hill Construction, publisher of Engineering News-Record. The state generated nearly $1.8 billion in new construction contracts during the month, a 21% increase over the same period of a year ago.
The nonbuilding sector, which includes infrastructure projects, jumped 41% and recorded $551.6 million in new contracts during the month. Residential contracts tallied $733.1 million, or 24% better than last October. The volume of nonresidential contracts totaled $468.4 million, or 1% lower than a year ago.