Value of Cost of Construction

Importance


This metric provides an indicator of the level of economic investment, construction activity, and the workload volumes of staff within the City. Higher total construction values tend to indicate a greater number of larger scale developments and, accordingly, more significant investments in the City of Hamilton.

Story behind the numbers


A target of $1 billion in annual construction value is one indicator of a healthy construction activity and diversified investment in the City of Hamilton. Reaching this target level often represents a cross section of varying types of developments from residential, commercial, industrial or institutional sectors. Higher total construction values tend to indicate a greater number of larger scale developments and, accordingly, more significant investments in the City of Hamilton. This target was achieved in late 2017.

Performance improvements


The results assist in determining the appropriate level of resources required to ensure the Building Division is able to meet the timelines legislated in the Ontario Building Code. High values affect efficiency of approval of design proposals and completion of field inspections in a specific construction sector. 

Source: AMANDA System – Planning & Economic Development Department
 

Total Value of Cost of Construction

Year $ Value of Building Permits Issued
2013 1,025,785,758
2014 1,143,192,706
2015 1,108,192,846
2016 1,056,237,746
2017 1,364,145,418
2018 January to June 619,772,520