STEDF News

 

New business incorporations increase 40 percent year-over-year in St. Tammany

Posted 10/11/2017

(MANDEVILLE, La.) – The St. Tammany Economic Development Foundation (STEDF) has released its second quarter report on St. Tammany economic trends for 2017. New business incorporations in St. Tammany increased more than 40 percent in the first half of 2017 from the first half of 2016.

“These continued increases in new business incorporations reflect a continued interest in enterprise in St. Tammany,” said Brenda Bertus, CEO of STEDF.

The measurement reflects the number of new domestic entities filed with the Louisiana Secretary of State for St. Tammany Parish.

The number of commercial building permits issued increased 28 percent from the previous quarter.

The average unemployment rate in St. Tammany (4.7 percent) remained lower in the second quarter than the average rate for Louisiana (5.7 percent).

The total sales volume of residential real estate increased by 64 percent from the previous quarter, from over $181 million to over $297 million. This significant increase reflects 48 percent more houses sold at a 10 percent higher average sales price than in the first quarter of 2017.

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.

To view the full report, visit http://www.stedf.org/trends.html.

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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.


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