This year is off to a strong start, with permit values up almost 75% from this time last year. Over $19 million in permits were issued in the first month of 2012, and industrial and residential permits showed significant increases from this time last year. Industrial permits are up over $3.67 million and residential permits are up over $3.69 million.
Contributing to the strong industrial permit values is a new industrial building worth over $3.2 million being built in the Burnt Lake Industrial Park on behalf of Canyon Technical Services Ltd.
Commercial permit values are also off to a strong start. Permits issued for interior renovations to the top five floors of Red Deer Executive Place and an addition and renovation at Canadian Tire North accounted for over $4 million of the commercial permits issued in January.
“Stronger permit values across the board to start the year is a very positive indicator for the local economy,” said Inspections & Licensing Manager Howard Thompson. “2011 was a strong year, and we anticipate that 2012 will continue this trend.”
Monthly permit statistics will be posted on The City’s web site at www.reddeer.ca/inspections.