Total St. Tammany wages increase more than 60 percent over last decadePosted 07/24/2017
(MANDEVILLE, La.) – The St. Tammany Economic Development Foundation (STEDF) has released its annual summary of local economic data for the past decade. The report shows that total wages in St. Tammany Parish increased 63 percent in 10 years.
Brenda Bertus, CEO of STEDF, said, “The chief goal of economic development is to foster growth through new jobs and higher wages. To see such a strong increase in the amount of money earned by St. Tammany workers, is to see economic development succeeding.”
The total wages earned by the St. Tammany labor force increased from $2.41 billion in 2006 to $3.92 billion in 2016. Total wages for professional, scientific and technical jobs increased 80 percent from $163 million in 2006 to $293 million in 2016.
Real estate activity also saw significant increases. The number of single family building permits issued in St. Tammany increased 86 percent in the last five years, from 624 in 2011 to 1,163 in 2016. The total sales volume increased 63 percent in the last five years, from $560 million in 2011 to $915 million in 2016.
The number of hotels in St. Tammany increased from 23 in 2006 to 39 in 2016, and the number of hotel rooms increased from 1,788 in 2006 to 3,133 in 2016.
The St. Tammany Ten Year Economic Summary reports a comprehensive, long-term look at changes in St. Tammany’s economic trends. The latest report covers trends between 2006 and 2016. Factors include population growth, parish employment, apartment rent and sales tax collections.
To view the full report, visit http://www.stedf.org/ten-year.html.
About St. Tammany Economic Development Foundation (STEDF)
STEDF leads economic development in St. Tammany Parish, attracting new businesses and employment opportunities to the area. The organization seeks to improve parish residents’ quality of life by strengthening and supporting the business climate. For more information, call STEDF at (985) 809-7874 or visit www.stedf.org.