Positive economic news for the city.

Officials say building permit values to date in North Bay are up 15 per cent compared to last year, with $12.1 million worth of construction.

The city says it’s a good economic sign and shows strong confidence by investors.

Commercial development is tops so far this year, valued at $5.4 million.

Here’s the breakdown by sector:
– Commercial – $5.4 million
– Institutional – $2.7 million
– Industrial – $1.9 million
– Residential – $1.6 million
– Miscellaneous – $446,000

The city says new construction is important as it is an indication of future growth, jobs, tax dollars, investor’s confidence and economic activity.

“Last year the city experienced the highest construction values since 2011, an eight year high” said Mayor Al McDonald. “So far this year, the numbers are up 15% over the same period last year.”

North Bay has seen $795 million in building permit values and new construction in the past 10 years (2008-2017) according to building statistics.

Filed under: Building Permits, City of North Bay