San Angelo’s soaring economic growth

SAN ANGELO – In 2013, there were 8,116 building permits issued, up from the 8,064 issued in 2012. Monetarily, 2013 saw over $73 million more in permit revenues than in 2012.

“The building permits for the year 2013 over 2012 is an 80 percent [dollar] increase, which is pretty remarkable,” said Phil Neighbors, president of the Chamber of Commerce. “That includes residential, commercial and other [types of permits]. That’s probably the most outstanding increase [of all the categories measured].”

Homes in the MLS increased by 35 percent. “During the beginning of 2013, the residential market was very, very hot,” said Neighbors. “It has slowed a bit now, but it is still very good.”

Sales tax revenues, which have been increasing for the past three and a third years, were up 9.2 percent. “The sales tax was a 9.2 percent increase…which is great. We’re now on 40 months in a row of an increase over same month previous year,” said Neighbors.

The labor force in San Angelo has continued to grow, and December 2013 had higher employment numbers than December 2012.

With American Eagle now up to five flights a day out of San Angelo, the year-to-date totals of those who enplaned is up 14.8 percent over 2012, while those deplaned is up 14.6 percent over 2012.

Although air traffic has increased, hotel/motel occupancy rates dropped 4.4 percent in December 2013, compared to December 2012, while average room prices have risen 34 percent.

“With the coming of the additional hotels and rooms, that should have a downward impact on the average daily room rate, and it will also give us more inventory in order to sell and recruit more tourism and commerce into those rooms,” said Neighbors.