Hamilton surpasses $2B in construction value, but number of permits declining
AI Article Summary
The City of Hamilton has exceeded $2 billion in construction value for building permits this year despite a decline in the number of permits issued. This growth is primarily driven by Hamilton's burgeoning industrial sector, which is creating jobs and boosting the local economy. Efforts have been made to streamline development processes, such as implementing development charge exemptions, to unlock previously stalled projects.
What This Means for Canadian Contractors
This project shows how strategic policy initiatives can boost construction value despite a declining number of permits. For Canadian builders, this means there may be fewer opportunities in terms of volume, but the potential higher value of projects can still positively impact the economy. Streamlining processes and removing barriers can help unlock significant economic growth even amid challenges.
