Central Indiana Home Building Permits Increase in February

Posted: Updated:
BAGI says single-family home permits continue to rise BAGI says single-family home permits continue to rise
INDIANAPOLIS -

The nine-county Builders Association of Greater Indianapolis says single-family permits rose again last month. More than 480 permits were issued in February, compared to 351 in February of last year, which is an increase of 40 percent. 

Data from the Bureau of Economic Analysis and Moody's Analytics forecast central Indiana's job growth to increase by more than 20,000 jobs this year. BAGI President Scott Thompson says  “Given the steady job growth, it makes sense that housing growth would follow suit.”  “As is the case in most economic development cycles, we don’t expect that growth to continue indefinitely.  However, the new home building industry is strong and continues to positively impact Central Indiana’s economy. Filling more of the available jobs within our industry will further these positive impacts.”

Permits issued in February created a total economic impact of over $174,000,000 in local income, over $39M in local taxes and 2,965 local jobs. Hamilton County again saw the most permits with 368, followed by Marion with 210 and Hendricks at 146 permits. For more information on housing permits, click here.

  • Perspectives

    • Richardson is a practice lead with Centric Consulting.

      How to Create Consistent and Positive Customer Experiences with Your Brand

      Everyone knows that keeping the consumer happy is the first priority. The importance of considering the customer’s experience in all areas of engaging with your business, not just customer service is becoming even more clear. I’m seeing an increasing number of my peers in the marketing world take ownership of the customer experience with their brands. As a result, we’re all learning how to borrow and...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Updates Layoff Notice to State

      Pittsburgh-based U.S. Steel Corp. (NYSE: X) has updated the State of Indiana regarding its previously announced layoffs at the East Chicago Tin Mill. The company says 314, rather than 307, workers will be displaced when the mill is idled this fall. 

    • Red Star announced plans to expand and add 18 jobs.

      Larwill Medical Device Maker to Expand, Add Jobs

      A Whitley County-based medical device maker has announced plans to expand its facility in Larwill which should mean new jobs. Red Star Contract Manufacturing Inc. says it will invest $1.6 million in real estate improvements and additional equipment and will create 18 new jobs by 2022. 

    • Regal Beloit is closing in Valparaiso. (photo courtesy; The Times of Northwest Indiana)

      Valpo Bearings Plant to Close, Eliminating 160+ Jobs

      Wisconsin-based Regal Beloit Corp. and the union representing workers have reached an agreement about the closing of a helicopter bearing factory in Valparaiso. According to our partners at The Times of Northwest Indiana, the decision will cost between 160 to 170 workers their jobs. 

    • Bob Stutz

      New Role For Salesforce Exec

      After three years on the job, Salesforce Marketing Cloud Chief Executive Officer Bob Stutz is moving into a new role. Stutz, who will remain in Indianapolis, is now executive vice president of strategic partners at Salesforce (NYSE: CRM).  Since arriving in Indianapolis, Stutz has overseen the establishment of the company’s regional headquarters in downtown Indianapolis, which included the Salesforce name being placed atop the state’s tallest building.

    • (WISH-TV Photo)

      Clif Bar Expands Indy Bakery

      California-based Clif Bar & Co. has completed a $10 million expansion of its commercial bakery in Indianapolis. The company says the project involved a more sustainable redesign of the facility for its employee-owners with a greater focus on energy efficiency.