$81 Million in Construction Value in 2024 - Down $20 million from 2023

Industrial construction saw the largest decrease – dropped 16.1 million to 4.7 million (20.8 million in 2023), Residential construction dropped 10.3 million to 40.4 million (50.7 million in 2023), commercial construction dropped 5.8 million to 10.6 million down (16.4 million in 2023). The institutional sector up to 14.4 million to $24.4 million (10 million in 2023)

In 2022 the construction values were 218 million dollars and 2021 at 128 million dollars.

Total construction in last 4 years:

2024 (81.6M) 2023 (100.6M) 2022 (218M) 2021 (128M)

Total construction values for the year reached $81,661,282, with the residential sector accounting for $40,434,703, nearly half of the annual total. This includes the addition of 99 new dwelling units, including 47 single-family dwellings, 36 additional dwelling units, seven semi-detached units, and nine multi-residential units.

While the total construction value of $81.7 million is down from the $100.6 million reported in 2023, it reflects consistent investment across key sectors and aligns with a decade-long trend of strong construction activity.

Although residential construction value fell below 2023’s total of $50.7 million, the 2024 figures reinforce a steady investment in housing in recent years, bringing the 10-year total to 991 new units.

“The residential growth that we saw in 2024, including new single-family and multi-residential units, reflects our ongoing efforts to encourage and support accessible and affordable housing options within our community,” said Mayor Peter Chirico.

Early indicators suggest that 2025 will be another busy year for construction activity. As the City plans for the year ahead, it remains committed to fostering an environment that supports development and growth for businesses, residents, and the broader community.