Construction starts in the Tampa Bay area soared in value in July, led by a whopping 91 percent year-over-year increase in nonresidential building. According to Dodge Data & Analytics, there was $330.7 million in new nonresidential activity in July compared to $173.1 million in the same month a year earlier. The value of residential construction starts rose 6 percent, to $448.2 million.
The monthly comparison may have been a blip. Year-to-date, nonresidential construction is up a more moderate — but still booming —16 percent.
For the first seven months of the year, the total value of new nonresidential construction was $1.02 billion while residential construction hit $3.23 billion. Construction companies say they are having a hard time finding workers, especially in skilled trades, because of all the activity.