The value of new Delaware construction contracts signed in January for future construction increased dramatically compared to the same period of a year ago, McGraw-Hill Construction reported. According to the company, publisher of Mid-Atlantic Construction, approximately $235.7 million in new contracts moved forward during the month, or about five times the year-ago total of about $47.9 million.
All three sectors showed significant increases. The nonresidential sector contributed the most to the state’s overall improvement. This category soared from the $29.4 million of a year ago to total nearly $182.8 million for the most recent month.
January’s residential contracts also showed a significant uptick. The most recent total of nearly $25.5 million was 62% ahead of the year-ago figure of $15.7 million.
The nonbuilding sector, which includes infrastructure projects, also improved markedly. Here, McGraw-Hill Construction reported approximately $27.4 million in new contracts, compared to the nearly $2.8 million of a year ago.