The Construction Industry Research Board, which compiles building permit data across the state, may close down at the end of March after nearly four decades of operation.
The Building Industry Association of Southern California merged the research board into its operations in 2007 to help support the group as it dealt with declining resources from those who subsidized its research, BIASC wrote in a blog post Friday.
The research board simply wasn’t immune from the tough real estate market that has forced numerous closures across California. A spokesman from BIASC said the researcher’s revenue has dropped off significantly.
In its blog post, BIASC said it’s been reviewing the sustainability of the research group and “how best to adapt to the prolonged market conditions.”
“Based on that review, BIASC is looking at options that include an orderly but prompt winding down of operations. Such a step, however, would occur only following thorough consideration of the impacts on CIRB's subscribers and a plan to promptly refund all unearned subscriptions.” BIASC wrote.
Information from the research board is used by local governments, universities, the media and others.