MANDEVILLE, LA – The St. Tammany Economic Development Foundation (STEDF) released its second quarter reports on St. Tammany economic trends and parish growth, and both residential and commercial building permits rose 50 percent over the second quarter of 2016.
Brenda Bertus, CEO of STEDF, said, “When we see a healthy increase in construction in our parish, it’s a sure sign of stable growth. The need for new residential structures reflects an increase in population and an increase in wealth. The need for new commercial structures reflects an influx of new and expanding businesses.”
In the second quarter of 2016, overall growth of the parish economy increased by 8.8 percent for the quarter and 2.2 percent for the year.
Licenses issued for business incorporations rose by 17.7 percent from the corresponding quarter in 2015, and unemployment in St. Tammany remained below the average for the state of Louisiana.
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.
The Parish Growth report measures overall parish growth, combining economic factors into a unifying picture.
STEDF leads economic development in St. Tammany Parish, attracting new businesses and employment opportunities to the area, reps said. The organization seeks to improve parish residents’ quality of life by strengthening and supporting the business climate
