A slumping economy didn’t detract from a solid year of construction in the City of North Bay with $68.8 million recorded in the value of building permits for 2015.
It was a slight $1.6 million increase over the $67.2 million posted in 2014.
"At the beginning of budget process in 2015, it was estimated due to the slow global economy, that $55 million was a reasonable target in consultations with builders and developers expectations," said Mayor Al McDonald in a news release.
“The total of $68.8 million is a good sign of confidence in our city, given the slow global economy and external factors beyond our control.
“We continue to be open for business. Council is focused on its goal to create an environment for local business to expand and the attraction of new business and industry to our city."
Commercial permits lead the pack at $29.7 million, followed by residential at $21.2 million, industrial at $11.6 million and institutional at $5.4 million.
McDonald noted that the commercial number was the second highest in the city’s history.
Thirty one single-family homes were built during the year.
McDonald is counting on an even better year coming up.
“The world global markets have been very difficult to start 2016 but we are hearing many projects moving forward locally. Time will tell but we are optimistic."
The all-time record for the city in recorded building permit was set in 2008 at $84.4 million.
