Utah’s Economy: Nonresidential Construction – Murray to American Fork

febutaheconLast year was a surprisingly strong year for nonresidential construction in Utah. The value of permit authorized, nonresidential construction was up 37 percent, to $2.0 billion, the fourth highest year ever. But the 2015 value does carry an asterisk – the unexpected surge in nonresidential value was due in part to a pair of large energy related projects. The $216 million expansion of Holly Frontier’s oil refinery, in Davis County, was the single largest nonresidential project in 2015, doubling its daily capacity from 30,000 to 60,000 barrels. Solar farms in Beaver and Iron Counties also added another $200 million in nonresidential value. These large energy projects were reported as industrial construction and helped drive the value of this sector to a near record level. In 2015, industrial construction totaled $485.1 million, just below the 2007′s all-time high of $497 million (inflated adjusted).

Read the entire report

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>