Newspaper article THE JOURNAL RECORD

Central State Building Pacts Increase 8.2%

Newspaper article THE JOURNAL RECORD

Central State Building Pacts Increase 8.2%

Article excerpt

Journal Record Staff Reporter

The value of construction contracts in May rose 8.2 percent to $121.8 million in central Oklahoma from $112.5 million in May last year.

Last month's value was up 55.4 percent from April contracts valued at $78.4 million, according to the Dodge Local Construction Potentials Bulletin.

For the state, May construction pacts fell 1.3 percent to $262.17 million from $265.5 million last year. The May total was up 40.1 percent from $187 million in April.

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 central area as Canadian, Cleveland, Grady, Kingfisher, Lincoln, Logan, McClain, Oklahoma, Payne and Pottawatomie counties.

In the first five months of the year, central Oklahoma had a total of $469.7 million in building contracts, a 9 percent decrease from $516.8 million in the same period of 1994.

Across the state, the total value of year-to-date building pacts was $1.17 billion, down 1 percent from $1.18 billion last year.

Categories of building contracts counted in the total dollar amount are residential, nonresidential and nonbuilding. Residential was the only category to show a May-to-May decrease in both central Oklahoma and the state. All categories were up from April.

Individual categories in the central part of the state showed: Residential construction in May decreased 26.4 percent to $51.4 million from $69.8 million in May 1994. It was up 48.3 percent from $34.66 million in April. The first five months of 1995 showed a 21 percent decrease to $226 million from $285.1 million last year.

Residential buildings include one- and two-family houses and apartments. Nonresidential construction was up 73.4 percent to $43.9 million in May from $25.3 million in May last year. …

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