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10/11/2013 - Construction in Hamilton Up 35% in First 9 Months of Year

 

Construction in Hamilton Up 35% in First 9 Months of Year

New construction and construction additions are continuing to expand Hamilton’s already vibrant economy, as statistics from Hamilton’s Construction Office are up 35 percent in the first 9 months of the year.

From January through September of this year, over $60.8 million in construction has taken place in Hamilton, compared to $45 million in the first 9 months of 2012.

Construction additions or alterations, which account for work done on existing buildings or foundations, are up almost 8 ½ percent in the first 9 months of the year, while new construct is up over 86 percent.    

The construction encompasses both commercial and residential, and includes projects such as the continued construction of the new 65,000 sq. ft. Hamilton Clocktower building, the continued development of Black Forest Drive and its consortium of corporate research entities that are part of the Genesis Biotechnology Group and major renovations to existing buildings on Cabot Drive and at Grounds For Sculpture.

“These very positive construction statistics prove what we have been saying all along – that Hamilton’s local economy is continuing to expand, even after a year in which we enjoyed the highest ratable growth in Mercer County,” explains Hamilton Township Mayor Kelly A. Yaede.  “This level of expanded economic activity is great for our local economy, existing businesses and our hard-working families, but we are not becoming complacent.  Every day, we are  working that much harder to continue the growing trend of new businesses that are looking to come to Hamilton Township and build upon the 36 new business we have seen open in the past 12 months.”