St. Tammany Sees 35 Percent Increase In New Business Incorporations
MANDEVILLE, LA – The St. Tammany Economic Development Foundation (STEDF) has released its third quarter report on St. Tammany economic trends for 2016. In the third quarter of 2016, new business incorporations rose 35 percent over the third quarter of 2015.
New single-family building permits increased 34 percent year-over-year and 19 percent year-to-date. Hotel sales increased 27 percent year-over-year.
“The third quarter was a difficult one across the country,” Brenda Bertus, CEO of STEDF, said. “With so much uncertainty leading up to a national election, consumers and businesses alike demonstrated a hesitancy to expand and invest. But in St. Tammany, the year-to-date trends continued to reflect some growth.”
This is also the first issue of the newly-redesigned report that STEDF produced entirely in-house.
“We’ve collected and compiled the data from a range of sources,” Bertus said, “and we offer this valuable resource to anyone interested in tracking the economic performance of our parish.”
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.
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.