Brampton Construction Activity Ends First Quarter on High
Thursday, May 13 2010, 02:00
Brampton, ON: According to Statistics Canada figures released last week, Brampton’s building activity surged in the first quarter of 2010 with a more than 200 percent increase from the same period in 2009.
Building permits issued locally represent more than $280 million being spent on new construction, predominantly in the residential sector. These results place Brampton third in the Construction Value Rankings of Toronto Census Metropolitan Area communities.
“This is very positive news for Brampton, demonstrating people going back to work in the construction industry, which is a key indicator on the health of our economy,” says Mayor Susan Fennell. “This reflects confidence felt in Brampton’s economy and shows that we are seen as a solid place to invest. The industries supporting this sector should also start showing signs of rejuvenation due to these numbers.”
Building Permits issued in March alone were at a value of $158 million. This represents more than 56 percent of the total value issued this year. Regionally Brampton construction represents 66 percent of the Region of Peel’s total construction.
While these statistics send a positive message, they are tempered with the challenge of unemployment figures that regionally sit at 10.4 percent (April 2010) despite an increase in the number of people working. This is due to predominantly to a more fragile manufacturing sector and seasonal impacts, as students enter the workforce for the summer.
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