Future N.H. construction is stimulated.The first signs of the sizable impact that federal economic stimulus programs will have on the New Hampshire construction industry can be seen in the massive amount of future construction contracts reported in February. According to McGraw-Hill Construction, an industry information service, a total of $505.12 million in nonhuilding construction contracts were reported in February in New Hampshire--almost $500 million more than the $7.8 million reported in February 2008. Nonbuilding construction involves roads, bridges and other infrastructure that are specifically targeted in the stimulus spending. But future nonresidential construction contracts in February totaled $13.29 million, 68 percent less than the $41.04 million reported a year earlier. Residential contracts totaled $19.3 million, 58 percent less than the $46.14 million reported in February 2008. So far in 2008, future construction contracts total $573.15 million, some $400 million more than the $173.33 million reported through February 2008. |
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