The St. Louis metropolitan area recorded more construction starts in the first months of 2020 — including the pandemic — compared with many of its peers, according to new research from Dodge Data & Analytics.
For the first four months of 2020, St. Louis' construction starts for both residential and non-residential projects grew 84% to $1.7 billion compared to 2019, the data shows.
That rate of growth for 2020 far outpaced its peer cities such as:
- Kansas City: $1.55 billion, down 39%
- Memphis: $707.44 million, down 11%
- Cincinnati: $1.14 billion, up 8%
That data includes declines for the month of the April due to the pandemic. Construction starts for commercial projects — including for office, retail, hotel, industrial and other non-residential — in the month of April was $60.45 million, marking a 46% year-over-year decrease in the St. Louis region. Here's how peer cities performed in April:
- Kansas City: $269.47 million, down 81%
- Memphis: $89.69 million, down 28%
- Cincinnati: $131.86 million, up 21%
Nationwide, the construction industry added 464,000 jobs in May, following losses of 995,000 in April, according to an analysis by the Associated General Contractors of America.
“The huge pickup in construction employment in May is good news and probably reflects the industry’s widespread receipt of Paycheck Protection Program loans and the loosening of restrictions on business activity in some states,” AGC Chief Economist Ken Simonson said in a statement.
Meanwhile, in the city of St. Louis, the number and value of construction permits issued in the month of the May rose from April, though the figures still trail 2019's, data from the city's Building Division show.
In May, the city issued 486 construction permits worth $18.21 million compared with 609 permits valued at $53.92 million (a 66% year-over-year decline) in May 2019.
