This stock photo shows a home under construction.
EDWARDSVILLE — Madison County announced that in the first quarter of 2016, it issued approximately 1,250 commercial and renovation construction permits for projects valued at more than $41.86 million, an increase of more than $313,000 from the first quarter of 2015.
Madison County Chairman Alan J. Dunstan said despite an increase in the value of the projects, the number of building permits issued was down slightly from the previous year.
“When the dollar value of construction permits goes up, even with a decrease in the number of permits, it means residents and local businesses are taking on larger projects,” Dunstan said. “It signifies both homeowners and developers are making bigger investments in Madison County.”
The total valuation for residential construction and renovation projects climbed by more than $1.6 million and $1.3 million, respectively. This quarter, 51 residential new construction permits were issued by Madison County municipalities and 29 were issued in unincorporated Madison County, including Hamel and Grantfork.
Dunstan said the increase in cost investments is indicative of the county’s positive growing economic environment.
“Where people put their money, they put their trust,” he said. “Residents in Madison County are putting more investments into their homes and properties, helping reinforce the economic viability of the county.”
Although commercial renovations were down slightly, the overall dollar valuation of projects increased by more than $3 million. The valuation of all commercial new construction projects totaled $5,328,158 in Madison County municipalities and $1,715,547 in unincorporated Madison County, including Hamel and Grantfork.