(MANDEVILLE, La.) – The St. Tammany Economic Development Foundation (STEDF) has released its first quarter reports on St. Tammany economic trends and parish growth. Building permits saw the highest increases, with 52.2 percent more residential permits issued than in the last quarter and 68.8 percent more commercial permits issued than in the corresponding quarter last year.
“Increases in property, construction and real estate factors typically indicate a rise in the overall wealth of parish residents and of the business community,” said Brenda Bertus, CEO of STEDF. “And as I’d expect in these conditions, the number of new business incorporations has risen nearly 20 percent from last quarter.”
Though the number of houses sold fell slightly from the previous quarter, 20.9 percent more houses were sold than in the corresponding period last year. Overall growth of the parish economy increased by 5.8 percent from the corresponding period last year.
The Economic Trends report discusses employment, sales tax collections and housing trends as well as other factors that contribute to the state of the local economy. The Parish Growth report measures overall parish growth, combining economic factors into a unifying picture.
To view the full reports, visit http://stedf.org/t_reports.htm and http://stedf.org/growth.htm.