INDICATOR TITLE (SHORT) Building Activity INDICATOR TITLE (FULL) Total Value of Construction and Number of Building Permits in Chatham-Kent DESIRED TREND CURRENT TREND Total Value of Construction and Number of Building Permits in Chatham-Kent, 2010-2015 Value of construction Building permits $300,000,000 1600 1200 $200,000,000 1000 800 $150,000,000 Building Permits (#) Value of Construction ($) 1400 $250,000,000 600 $100,000,000 400 $50,000,000 200 2010 2011 2012 2013 2014 2015 CURRENT TREND Building permits (residential, agricultural, industrial, commercial, and institutional) in CK decreased in value by 27.0% from $168,950,536 in 2014 to 123,416,435 in 2015. The number of building permits increased 5.7% from 1,016 in 2014 to 1,074 in 2015. From 2010 to 2015, the total value of construction and the number of building permits has decreased by18% and 21%, respectively. To learn more about how you can make a difference, go to: www.chatham-kent.ca/CKPlan-2035 November 18, 2016 DESIRED TREND Increase the value of construction occurring and number of building permits in Chatham-Kent. WHY IS THIS IMPORTANT TO CREATING AN ECONOMIC PROSPEROUS COMMUNITY? Building permit data is widely used as a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process. Tracking the value of construction occurring and the number of permits allocated provides information on trends related to investments in Chatham-Kent. Growing economies will show an increase in the trend line as consumers’ invest when they view the community in a growth mode and multiple factors related to their finances. This indicator is used by a wide range of economists, construction industry analysts, housing market analysts and economic development officers across Canada. 1. Statistics Canada, Building Permits Survey: http://www23.statcan.gc.ca/imdb/p2SV.pl?Function=getSurvey&SDDS=2802 2. Building Community prosperity through local economic Development (2014). Https://Www.Fcm.Ca/Documents/Tools/International/Building_Community_Prosp erity_Through_Local_Economic_Development_EN.Pdf WHAT IS THE INDICATOR? Detailed definition Data source Years available Updated Geographies available Stratification Total Value of Construction and Number of Building Permits in Chatham-Kent Municipality of Chatham-Kent, Building Departments 2002 Monthly No N/A INDICATOR LIMITATIONS Individuals not obtaining Building Permits when required Individuals not being truthful with the value of construction Individuals living on Indian Reserves and Crown lands To learn more about how you can make a difference, go to: www.chatham-kent.ca/CKPlan-2035 November 18, 2016
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