MONCTON – A total of 29 permits valued at $62.2 million were issued in February 2009. This represents the best month of February in the history of Moncton, in terms of the total value of building permits issued by the City. The previous record for the month of February was set in 2003, when the City has issued for $6.3 million worth of building permits. A total of 57 permits valued at $64.8 million were issued so far this year compared to 61 permits worth $4.2 million in 2008.

“The significant rise in construction activity in February is entirely due to the $44.2 million permit issued for the Provincial Courthouse and two $5.7 million permits for the foundation of the Palladium and Casino buildings”, said Ben Champoux, Business Development Specialist with the City of Moncton. “At a time when all we seem to hear about worldwide is related to financial uncertainties, housing crisis, and job cuts, it is pretty impressive that Moncton continues to perform so well. Employment has been in record territories over the past 3 months, and as expected, 2009 could very well be our best year ever for the construction sector in Moncton”, added Champoux.

The total value of residential building permits issued in February was down when compared to last year, while the value was up significantly for of institutional, commercial and industrial permits.

Highlights from February 2008 include:

• A $44,250,000 permit for the construction of the Provincial Courthouse in Downtown Moncton;
• The foundation of the Palladium building of the new NB Casino project, valued at $5,764,000;
• The foundation of the Casino building of the new NB Casino project, valued at $5,761,400;
• Renovations at the Moncton Hospital, valued at $4,975,000;

Contacts:

Ben Champoux

Business Development Specialist, City of Moncton

(506) 853-3518

Sherry Sparks

Director of Building Inspection, City of Moncton

(506) 856-4375

Paul Thomson

Director of Communications, City of Moncton

(506) 853-3592