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Home » South Carolina Contracts Eke Out 2% Gain in October
Southeast Construction NewsSoutheast

South Carolina Contracts Eke Out 2% Gain in October

December 17, 2012
Scott Judy
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Gains in housing and infrastructure barely overcame a 55% decline in nonresidential construction contracts for a 2% overall increase in new South Carolina projects for October, according to McGraw-Hill Construction. In all, the company estimated that approximately $540.7 million in new construction contracts moved ahead during the month.

Photo courtesy Dept. of Energy's Savannah River Site
Aerial photo of Mixed-Oxide Fuel Fabrication project at Savannah River Site, near Aiken, S.C.

The nonresidential category’s dramatic decline represented just $63.25 million in new contracts. On the positive side, residential contracts tallied $386.5 million, a 23% improvement compared to the same period of a year ago. The nonbuilding category—which includes infrastructure and energy contracts—registered $91 million in new projects during the month, for a 16% gain compared to last October.

On a year-to-date basis, McGraw-Hill estimates the value of new South Carolina construction contracts at more than $14.6 billion, or more than double 2011’s pace. That large increase is due almost entirely to the start of an $8.5-billion nuclear powerplant project in Jenkinsville.

As the result of the Jenkinsville project, South Carolina’s nonbuilding category totals nearly $9.4 billion through October. The only other category that’s positive for the year is residential. Through October, McGraw-Hill estimates that nearly $3.4 billion in new housing projects have moved forward, for a 16% gain compared to a year ago.

Nonresidential contracts total just over $1.9 billion, or about 9% lower than 2011’s pace through October.

Click here to read about the Southeast construction industry's prospects for 2013.

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Scoot-judy

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.

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