Economic Index

by David Walle

February 22,2008

Columbia’s Economic Indicators
The city government's sales tax revenue increased last October and November, the first months of the fiscal year, compared with those months the previous year. The city also monitors revenue from the top taxpayers in each sector, and there were positive trends there as well. Construction and home improvement, which had percentage decreases in the low teens during much of last year, was up 1 percent in the first two months of the current fiscal year. And revenue from restaurants and bars is up 3.7 percent through November, which is good news for a sector hit with numerous closings this winter. However, sales tax receipts from the month of December, the biggest revenue generator of the year by far, won't be complete until early March.

RECEIPTS 1% Sales Tax Receipts
November 2007: $1,572,544
November 2006: $1,518,232
Change ($): $54,312
Change (%): 3.6%

1% Sales Tax Receipts
Fiscal Year-to-Date 2007:
$3,067,334
Fiscal Year-to-Date 2006:
$3,035,580
Change ($): $31,754
Change (%): 1.0%

LABOR
Columbia Labor Force
December 2007: 93,515
December 2006: 94,836
Change (#): -1,321
Change (%): -1.4%

Missouri Labor Force
December 2007: 3,039,308
December 2006: 3,046,073
Change (#): -6,765
Change (%): -0.2%

Columbia Unemployment
December 2007: 3,319
December 2006: 2,839
Change (#): 480
Change (%): 16.9%

Missouri Unemployment
December 2007: 158,697
December 2006: 139,617
Change (#): 19,080
Change (%): 13.7%

Columbia Unemployment Rate
December 2007: 3.5%*
December 2006: 3.0%
Change (#): 0.5%
*lowest unemployment rate in a metropolitan area in MO

Missouri Unemployment Rate
December 2007: 5.2%
December 2006: 4.6%
Change (#): 0.6%

CONSTRUCTION AND HOUSING SALES
Building Permits – Residential
January 2008: 65
January 2007: 136
Change (#): -71
Change (%): -52.2%

Value of Building Permits – Residential
January 2008: $5,825,603
January 2007: $14,274,984
Change ($): -$8,449,381
Change (%): -59.2%

Building Permits – Detached Single Family Homes
January 2008: 23
January 2007: 31
Change (#): -8
Change (%): -25.8%

Value of Building Permits – Detached Single Family Homes
January 2008: $4,675,300
January 2007: $5,182,000
Change ($): -$506,700
Change (%): -9.8%

Building Permits – Residential Additions/Alterations
January 2008: 34
January 2007: 75
Change (#): -41
Change (%): -54.7%

Value of Building Permits – Residential Additions/Alterations
January 2008: $498,331
January 2007: $742,984
Change ($): -$244,653
Change (%): -32.9%

Building Permits – Commercial
January 2008: 22
January 2007: 12
Change (#): 10
Change (%): 83.3%

Value of Building Permits – Commercial
January 2008: $19,454,887*
January 2007: $3,079,755
Change ($): $16,375,132
Change (%): 531.7%
*1 permit for School/Educational construction worth $16,490,000

Building Permits – Commercial Additions/Alterations
January 2008: 20
January 2007: 10
Change (#): 10
Change (%): 100%

Value of Building Permits – Commercial Additions/Alterations
January 2008: $2,374,797
January 2007: $129,755
Change ($): $2,245,042
Change (%): 1,730.2%

Units Sold in Boone County – Detached Single Family Homes
January 2008: 94
January 2007: 107
Change (#): -13
Change (%): -12.1%

Volume of Sales in Boone County – Detached Single Family Homes
January 2008: $16,274,463
January 2007: $19,439,556
Change ($): -$3,165,093
Change (%): -16.3%

Median Price of Home Sales in Boone County
January 2008: $151,000
January 2007: $155,000
Change ($): -$4,000
Change (%): -2.6%

UTILITIES
Water Customers
January 2008: 43,659
January 2007: 42,451
Change (#): 1,208
Change (%): 2.8%

Electric Customers
January 2008: 44,472
January 2007: 43,034
Change (#): 1,438
Change (%): 3.3%

Sewer Customers – Residential
January 2008: 39,299
January 2007: 37,804
Change (#): 1,495
Change (%): 4.0%

Sewer Customers – Commercial
January 2008: 3,491
January 2007: 3,338
Change (#): 153
Change (%): 4.6%

Contributors include: Lori Fleming, Linda Rootes, Sarah Talbert and Carol Van Gorp
Compiled by David Walle

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