In 2010, Goldfield posted improved results based on renewed strength in its electrical construction business and successful marketing of our few remaining condominium units. Revenue from Southeast Power's electrical construction operations grew by 13% to $31.4 million, from $27.8 million in 2009, and operating income increased to $2.1 million, from an operating loss of $0.1 million the prior year. As demand has begun to return for our construction services on transmission and fiber optic projects, we have seen steady growth in this segment.
Goldfield's real estate development operations also posted improved results for 2010, with revenues increasing to $2.0 million from $1.5 million in 2009 and operating income increasing to $0.2 million, from $0.1 million in the prior year. Fortunately, Goldfield's exposure to the very depressed Florida real estate market is limited. As a result of condominium sales in 2010, our inventory is now down to only three units at Pineapple House, our only current project, and we have paid off in full our construction loan for this project.
As the economy shows signs of improvement, we are positioning our electrical construction operation to benefit from anticipated demand for new electrical transmission lines, particularly in Texas, and have opened a new facility in Bastrop, Texas to serve this demand. We expect the continued growth in wind generation and other transmission projects in Texas to create significant demand for our construction services to connect these projects to the electrical grid. More generally, we have expanded our electrical construction operations from our traditional base in the Southeastern United States with projects as far west as New Mexico and as far north as Massachusetts.
Goldfield starts 2011 on a firm footing with encouraging prospects for continued growth. We appreciate your support over the years.
