Building Permits Up in December

Posted: Updated:
The new permits resulted in over 15,000 local jobs. The new permits resulted in over 15,000 local jobs.
INDIANAPOLIS -

The Builders Association of Greater Indianapolis reports building permits rose in December. Single-family building permits in the nine-county region were up 10 percent from the previous month and up one percent from the same period in 2014.

The organization says there were 5,118 new home permits issued in 2015, compared with 5,084 in 2014. The permits issued in December created a total economic impact of over $915 million in local income.

"The December permit gains certainly indicate the market is moving forward and making great progress in Central Indiana," says Steve Lains, CEO of the Builders Association of Greater Indianapolis. "Market analysts are predicting a strong 2016 for housing, forecasting steady increases throughout the year.  Housing demand will continue to outweigh supply which is why we’ll see steady increases and not large spikes in permit numbers in 2016."

The permits also created over $200 million in local taxes and over 15,000 local jobs.

  • Perspectives

    • The First Thing Nonprofit Boards Should Focus On: Member Engagement

      There is no shortage of literature on how to run a nonprofit and what the board of directors should be doing. Do a quick search for “grant writing advice” or “board meeting agenda” and you will easily find hundreds of resources. But if there is so much helpful information around, why is serving on a nonprofit board sometimes so draining? After founding two nonprofits, Musical Family Tree and the Speak Easy, as well as serving on several nonprofit boards...

    More

Events



  • Most Popular Stories

    • (photo courtesy The Times of Northwest Indiana)

      Hammond Pulls 135 Jobs from Illinois

      A Hammond factory recently vacated by Michigan-based Lear Corp. didn’t sit empty for very long. Midland Metal Products has taken over the former seat factory, having relocated from Chicago after 95 years. 

    • (photo courtesy of TriCore Logic)

      Fort Wayne IT Firm Expanding

      TriCore Logic has announced plans to expand its office space and staff at its downtown Fort Wayne headquarters. The company plans to invest over $200,000 in the expansions. The 2010-founded company moved to the Anthony Wayne building in 2013, and now plan to grow their staff of five employees by up to eight over the next four years. 

    • ‘Transformation’ Continues in Westfield

      Indiana’s fastest growing city is showing no signs of slowing down.  Mayor Andy Cook says now that Westfield has established itself as a destination for family sports with the Grand Park Sports Campus, the $35 million Grand Junction Plaza will transform the city’s downtown into a destination, a place “where people want to be.”   Cook says the project, more than a decade in the making, is an example of a place making strategy necessary for Midwest...
    • (courtesy Wes Mills)

      Purdue: Farmland Values Decline Fifth Straight Year

      The value of top-quality farmland in Indiana has declined continuing a five-year trend, according to the latest data from Purdue University.  The statewide average of the best cropland is $8,212 per acre, down more than five percent, or $456 per acre, from the same period last year. Purdue’s survey shows average and poor-quality farmland values also dropped, but not as much. Average quality farmland declined by 0.9 percent. Purdue says the poor...

    • (Image courtesy of Horseshoe Casino Hammond.)

      Indiana Casinos to Begin Sports Betting

      A pair of northwest Indiana casinos will soon add sports wagering to their offerings. Horseshoe Hammond Casino and Ameristar Casino East Chicago are both set to open sports betting areas at their respective casinos ahead of the kickoff to the 2019 NFL season.