Newspaper article THE JOURNAL RECORD

Construction Contracts off for Metro Area, State

Newspaper article THE JOURNAL RECORD

Construction Contracts off for Metro Area, State

Article excerpt

By Betty Jane Harvey

Journal Record Staff Reporter

The value of construction contracts during July decreased in both central Oklahoma and the state when compared with July 1992, according to the Dodge Local Construction Potentials Bulletin.

Total value of contracts during July in central Oklahoma was $73.4 million, off 15.5 percent from $86.9 million in contracts during July 1992. July's total was 21.3 percent ahead of building pacts valued at $60.5 million in June.

Across the state, construction contracts dropped 2 percent in July to $197.2 million from $201.2 million in the same month last year. Contracts in July were 15.8 percent ahead of $170.3 million in June.

The Dodge Report is a monthly publication of the F.W. Dodge division of McGraw-Hill Information Services Co. of New York. It defines the 10-county metropolitan area as Canadian, Cleveland, Grady, Kingfisher, Lincoln, Logan, McClain, Oklahoma, Payne and Pottawatomie counties.

Both central Oklahoma and the state were down for the first seven months of 1993, compared with the same period last year.

During the first seven months of 1993 in central Oklahoma, the value of construction contracts was off 3 percent to $560.3 million from $575.5 million in the same period of 1992.

Statewide, building pacts during the first seven months of 1993 were down 4 percent to $1.3 billion from $1.4 billion through July last year.

Construction activity is tracked in three categories.

Nonresidential building includes commercial, manufacturing, educational, motels, dormitories, religious, administrative, recreational and other buildings designed for shelter.

Residential buildings include houses, apartments and other buildings designed for shelter.

Nonbuilding construction includes streets, highways, bridges, dams and reservoirs, river and harbor developments, sewage and water supply systems, missile and space facilities, airports, utilities and communication systems.

In central Oklahoma, residential was the only category that showed an increase in construction contracts in July when compared with last year. …

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