DC Construction Contracts Up 22 Percent in July
Contracts for future commercial construction in the Washington-Arlington-Alexandria Metropolitan statistical area (MSA) reached nearly $390 million in July 2012, according to McGraw-Hill Construction.
This was a 22 percent jump over July 2011, when future commercial construction contracts in the MSA totaled $320.6 million.
This growth in future commercial construction contracts for the greater DC area follows the first two quarters of 2012, which were up to nearly $2.38 billion, a 10 percent increase over the first two quarters of 2011, which totaled about $2.15 billion.
McGraw Hill defines commercial construction as commercial, manufacturing, educational, religious, administrative, recreational, hotel, dormitory and other non-residential buildings.
The metropolitan statistical area measured included Washington-Arlington-Alexandria, consisting of Arlington, Calvert, Charles, Clarke, District of Columbia, Fairfax, Fauquier, Frederick, Jefferson, Loudoun, Montgomery, Prince Georges, Prince William, Spotsylvania, Stafford and Warren in Maryland, District of Columbia and Virginia.