February 5, 2009

ICBA Commentary: Building Permits

(February 5, 2009 - VANCOUVER) The Independent Contractors and Businesses Association (ICBA) offered the following commentary on today's Statistics Canada release of the building permits survey for December 2008.

The decrease in BC's commercial building permits in December came mainly from lower demand for recreation and warehouse building, but ICBA believes this may soon be offset by federal and provincial commitments to move forward on deferred maintenance and repair projects.

"The construction industry can and is adjusting quickly to the changing volume of work," said Philip Hochstein, President of the ICBA. "Our own recent survey of construction companies shows that half of contractors expect work levels to decline, 38 per cent expect it to stay the same and 12 per cent expect levels to increase over the next year. Contractors are preparing for lower demand, but are ready for new work once infrastructure projects kick into high gear."

Governments, developers and homeowners are smart to start new projects or renovations now. "Now is the time to build or renovate, with costs becoming more stable, tradespeople more available and governments offering incentives," said Hochstein.

ICBA (www.icba.ca) represents family owned construction businesses across British Columbia.

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