New Business Incorporations Increase 60 Percent Year-Over-Year In St. Tammany
MANDEVILLE, LA – The St. Tammany Economic Development Foundation (STEDF) has released its first quarter report on St. Tammany economic trends for 2017. New business incorporations in St. Tammany increased 60 percent in the first quarter of 2017 from the first quarter of 2016.
“Every quarter, we report the number of new domestic entities filed with the Louisiana Secretary of State for St. Tammany Parish,” said Brenda Bertus, CEO of STEDF. “The drastic increases in the months of January and March of 2017 from the same months in 2016 show an increase in growth and stability in St. Tammany.”
The number of residential building permits issued increased 37.5 percent from the previous quarter.
The average unemployment rate in St. Tammany (4.6 percent) remained lower in the first quarter than the average rate for Louisiana (5.8 percent) and the average rate for the nation (4.7 percent).
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.