Newspaper article THE JOURNAL RECORD

Construction Pacts Highest in Ten Years

Newspaper article THE JOURNAL RECORD

Construction Pacts Highest in Ten Years

Article excerpt

The value of construction projects in 1994 was the highest in 10 years for both central Oklahoma and across the state, according to figures from the F.W. Dodge division of McGraw-Hill Inc.

Building pacts in central Oklahoma totalled $1.19 billion in 1994, the highest since $1.4 billion in 1984. Statewide, construction projects were valued at $2.9 billion, the highest since $3.3 billion in 1984.

Building pacts peaked in 1983, at $1.7 billion for central Oklahoma and $4.2 billion for the state. The low point was in 1988, at $707.5 million for central Oklahoma and $1.7 billion for the state.

Dodge construction records go back to 1979.

The 1994 total for central Oklahoma was an increase of 19 percent from $999.6 million in 1993. The statewide figure was a 23 percent increase from $2.4 billion during all of 1993.

The 10-county central Oklahoma area includes Canadian, Cleveland, Grady, Kingfisher, Lincoln, Logan, McClain, Oklahoma, Payne and Pottawatomie counties.

All categories of construction in central Oklahoma and the state increased during 1994.

However, both the state and central Oklahoma had decreases in building pacts in December.

The central portion of the state was down 20.8 percent to $60.5 million in December from $76.3 million in the same month of 1993. Last month's value was 25.5 percent below November contracts valued at $81.2 million.

Oklahoma had a decrease of 22.5 percent in December to $134.2 million from $173.1 million in December 1993. This was a 29.4 percent decrease from $189.97 million in November.

All but one area of construction _ nonresidential in central Oklahoma _ showed decreases in December comparisons for central Oklahoma and the state.

Nonresidential buildings include commercial, manufacturing, educational, religious, administrative, recreational, hotel, dormitory and other similar structures.

Residential buildings include one- and two-family houses and apartments. …

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