Value of Georgia’s New Contracts Fell 16% in August
While the overall value of new Georgia contracts signed in August for future construction declined by 16% compared to the same period of a year ago, there was a significant bright spot during the month as a result of federal stimulus funding. According to McGraw-Hill Construction, publisher of Southeast Construction, the total value of new contracts signed during the month equaled roughly $1.1 billion, down from the $1.3 billion of the previous August.
The state’s nonbuilding category—which includes roads, bridges and other infrastructure work—was an estimated 38% higher than the same period of a year ago, totaling approximately $297.7 million. That compared to last year’s $215.9-million figure for this category.