WACO - Spending, construction and employment growth continue to make impressive strides in Waco and McLennan County, pushing the Greater Waco Economic Index into record territory in September, according to Amarillo-based economist Karr Ingham.
The index, which uses data dating to 2000, rose to 114.9 from 114.3 in August and 111.6 in September 2013.
Sales tax receipts during third quarter exceeded those during the same quarter a year earlier by 4 percent. Year to date, spending is up 5.1 percent compared with the first nine months of 2013.
The Waco economy added 1,500 jobs during the last 12 months, a growth rate of 1.4 percent.
Auto spending in Waco continues to post huge numbers, increasing 28 percent in September and 11.7 percent in 3Q 2014 from the same periods in 2013.
Construction during 3Q 2014 was valued at $168 million, making it the second highest total of any quarter on record.
Only the $266 million permit issued during 2Q 2013 for McLane Stadium exceeds it.
Housing construction was generally flat during 3Q 2014, and permits for new homes are down about 9 percent year to date.
The 706 homes sold during 3Q 2014 represent a 4 percent increase from 3Q 2013. The average price for an existing home was $156,596 during 3Q 2014.