Building Permits See Full-Year Increase
INDIANAPOLIS - The Builders Association of Greater Indianapolis says single-family building permits in central Indiana rose 12 percent in December, and 7 percent in all of 2017, compared to the previous year. The organization, which covers a nine-county region, says it expects to see further growth in 2018.
BAGI says nearly 6,200 permits were issued in 2017, up from more than 5,700 in 2016.
"2017 proved to be another positive year for the new home building industry," Steve Lains, chief executive officer of BAGI said in a news release. "Our resources are predicting slight permit increases again in 2018; however, there are still limitations hindering the market from reaching its fullest growth potential."
Lains cites the Associated General Contractors of America, which says nearly 80 percent of construction businesses are struggling to fill skilled labor positions. He says that gap is hindering businesses from keeping up with demand.
"That is why BAGI has joined forces with the Indiana Construction Roundtable Foundation and the Indiana Builders Association to create ‘Build Your Future Indiana’ – a program designed to help create awareness and promote all that the industry has to offer in order to bring in the next generation of young talent," said Lains.
You can view the full building permit figures for December and all of 2017 in the chart below: