The value of new Florida construction contracts improved by 25% in February, according to McGraw-Hill Construction, publisher of ENR Southeast. The company estimated the value of new contracts at nearly $1.7 billion; last February, Florida registered roughly $1.3 billion in new projects.
All three broad construction categories experienced increases during February. Residential contracts jumped the highest on a percentage basis, increasing by 36% to total more than $868.8 million for the month. The nonbuilding category, which includes infrastructure projects, improved by 29% for a $409.3 million total. And the nonresidential category recorded $408.1 million in new contracts, or 6% better than the same period of a year ago.