Tennessee Construction Contracts Increase

by Eric Snyder Staff Writer, Nashville Business Journal. 06.23.2010

Thanks to a surge in nonbuilding construction, the total value of construction contracts awarded in Tennessee last month more than doubled when compared to one year ago.


According to data released today by McGraw-Hill Construction, a total of $1.3 billion in construction projects were awarded in May, compared to $532.4 million in May 2009.


Nonresidential construction — including commercial, manufacturing, educational projects, etc. — dropped from $213.2 million to $207.7 million, a 3 percent decrease.


Residential construction ticked up 4 percent, to $243.7 million, up from $234.7 million in May 2009.


Nonbuilding construction — for infrastructure projects like roads, bridges, utilities, etc. — increased 10 times, to $858.9 million, compared to $84.6 million one year ago.


The surge in nonbuilding construction helped increase the year-to-date value of contracts awarded in Tennessee. At this time last year, $2.7 billion worth of contracts had been awarded. This year, $4.1 billion in contracts have been awarded, an increase of 51 percent.


You can reach Eric Snyder at esnyder@bizjournals.com or 615-846-4254.


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