Statistics Canada recently released its Investment in Building Construction numbers for the first half of 2020. In the release, it showed the highest monthly investment in ICI construction on record.

Over $2.2 billion were invested in Ontario’s ICI sector in June — 15 per cent more than any previous month this year. Looking at the year so far (January-June), ICI investment in Ontario is nearly five per cent greater than the same period in 2019.

Over the first half of 2020, ICI investment is above 2019 numbers in 13 of Ontario’s 16 metropolitan areas. In London, ICI investment is up 51 per cent, while Peterborough’s investment value is up 39 per cent. There have also been double-digit increases in Guelph (29 per cent), Windsor (24 per cent), Thunder Bay (22 per cent), Belleville (19 per cent), Oshawa (17 per cent), and Brantford (12 per cent). ICI investment has grown by single-digits in the first half of 2020 in St. Catharines-Niagara (nine per cent), Ottawa (seven per cent), Kitchener-Cambridge-Waterloo (six per cent), Hamilton (four per cent), and Toronto (three per cent).

For more information on permitting, and investment in ICI construction, visit the Ontario Construction Secretariat’s website at iciconstruction.com.