The St. George UT Economy is Looking Up
The St. George, UT economy is looking up. While it’s been a tough few years, recent reports for the St. George economy are very encouraging. Building permits are one of the best signs. For the year, building permits are on the rise with single-family homes. Residential permits have gone up from just over 100 permits in August 2009 to over 300 in August 2012. Commercial and industrial permits are also on the rise going from just 60 to well over 100.
Single-family residential permit valuations have gone up from $13 million in August 2009 to over $50 million in August 2012, which is a huge jump for the local economy. Townhomes have risen from $5 million to $11 million and commercial has risen from $11 million to over $90 million, which is another big jump for the local economy.
More great news in St. George real estate and economic development includes many new additions such as:
* The Red Rock Wave Park that opened in June. It’s the only facility of its kind in the state with both a beginner lake and an advanced lake.
* The new development, Red Rock Commons, brought ULTA Beauty, Dick’s Sporting Goods, Wing Nuts, Old Navy and Gap. Other new retailers and restaurants are now settling into the Commons too.
* The Family Dollar will be adding a new 800,000 square foot distribution facility that comes with a price tag of $80 million. The facility will be located in the Fort Pierce Industrial Park in St. George and will employ nearly 350 people upon completion.
There is so much more to add about the St. George economy, but you get the drift with this bit of information. The economy picking up means better and more jobs for local citizens. Along with jobs, improvement to education, infrastructure, services and more can be expected.
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