Guam DOL: Building Permits Up 47.1% This Fiscal Year

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Guam – The Guam Department of Labor has released statistics showing that the combined total of Building Permits for the civilian sector and Federal contracts for the defense sector for FY 2010 is $649.2 million, up $207.9 million from the last Fiscal Year. That is a 47.1%  increase from the $441.3 million in Building Permits issued in FY 2009.

DOL’s Chief Economist Gary Hiles reports that the updated Building & Department of Defense Construction Contracts Tables are a leading indicator of subsequent Construction industry employment.

Read the Building Permit Annual & Quarterly Summary         

* The dollar value of  DPW Building Permits issued in FY 2010 is $278.7 million, up $30.1 million or 12% from FY 2009.

* The dollar value of Department of Defense construction contracts were $370.4 million in FY 2010 up $177 million or 92% from FY 2009.

[The DOD contract amounts are those for specific projects or task orders awarded and do not include open contract amounts for projects not yet awarded.]

Read the Building Permit Trends   [The building Permit information is from the Department of Public Works]

Read the list of DOD Contracts   [The Contract information is from the DoD Contracts Archive for Individual Contracts $5 million & above]

In addition, Hiles reports that the FY 2011 construction awards likely will exceed those of  this fiscal year. He points out that funding exists for substantial additional construction contracts which have not yet been awarded.

* Of the $737.7 million appropriated for construction projects in the FY 2010 U.S. Defense Authorization Act, approximately $370.4 million has been awarded.

* Japan FY 2009 and FY 2010 build up funds are available in the amounts of $336 and $497.8 million respectively.

*Other substantial funding available for construction projects includes, but is not limited to ARRA funds. And FY 2011 DOD Construction authorization, when enacted into law, will make substantial additional funding available later in FY 2011.

 The Building Permit and DOD Contract tables are available online on the Department of Labor’s website under Statistics/Construction Indicators at: www.guamdol.net

http://www.pacificnewscenter.com/images/pdf/buildingpermitannualquarterlysummary.pdf