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Posted: July 4, 2012 2:00 a.m.
Updated: July 4, 2012 2:00 a.m.

Construction spending up 9.4 percent over 2011

Construction spending was up in May, according to the U.S. Department of Commerce.
The May numbers of $830 billion were up nearly 1 percent over April, however, during the first five months of 2012 spending was up 9.4 percent over the same period in 2011. Spending for the first five months reached $310.5 billion.
Private construction outstripped public construction with projects for power, manufacturing,  offices and education leading the way – all with April increases of between 27.4 percent to 35.2 percent over May of 2011.
Residential construction is recovering as well. New multi-family projects in May recorded a 50.3 percent increase over April 20111, and single-family homes represented a 14. 8 percent increase.
The number of multi-family projects in May, however, was the lowest recorded in 2012. Projects hit a high  of$20.5 million in January 2012.
Dollars expended for single-family projects, however, have far exceeded multi-family projects through the county. May recorded $105.7 million spent in single-family construction. The high for the year was January 2012 when $121.3 million worth of single-family construction was put in place.

VIA presents Goldman Sachs program

Opportunities for small business owners, through the Goldman Sachs 10,000 Small Businesses Program, is the focus of the Valley Industry Association’s luncheon July 17.
The program helps small businesses create jobs and foster economic opportunity by providing entrepreneurs access to business education, financial capital and business support services.
Business owners selected to participate in the program receive scholarships to cover tuition and program materials. They cover subject areas  such as contract negotiations, accounting, marketing and management, said Kathy Norris, CEO and president of VIA.
The presentation at VIA’s luncheon is offered by the Small Business Development Center at Long Beach College.
“We’re excited to offer this unique opportunity to local businesses to learn about this outstanding program,” Norris said.


—Signal Staff


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