August 26, 2016
Fewer building permits were issued in July 2016 than the year before, according to the Odessa Development Corp. Five new permits were issued for commercial developments, valued at $7.4 million, versus the 26 issued in July 2015, valued at $21.3 million. Year-to-date, 2,837 permits ($191.2 million) were issued for residential, commercial and other construction. By July 2015, 3,111 total permits had been issued, valued at $211 million.
Some positive news did come from the Permian Basin Rig County. Though July’s 139 rig count was below the 193 reported in July 2015, it did tick up from June 2016’s 125-rig total.
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