ECONOMY: The 2006 stats are in and La Plata County's economy continues to improve. The leading sectors of our economy - tourism, energy, real estate and construction - all showed signs of continued growth.
Indicators for the tourism sector, for example, showed steady growth. Airport passengers at the Durango-La Plata County Airport increased 12% over 2005. More tourists and locals took a ride on the Durango & Silverton Narrow Gauge Railroad; a 5% increase. An 11% increase in visitors to Mesa Verde was the largest change since 2001. Overnight guests increased and the lodgers tax was up 7.2 %.
Employment growth continued in 2006 with an increase of 7.2 %. Prices for local agriculture were mixed with alfalfa hay prices increasing 5.6% while calf prices declined 1.1%.
Both the real estate and construction sectors of the economy continued to grow. The median residential real estate price increased by 14%. Average prices increased 13% in 2006 and 21% in 2005. Building permit values increased 22%.
Finally, both the population and financial resources available in La Plata county continued to grow in 2006. Population, as measured by the installation of new residential electric meters increased 2.9%. Bank deposit information provided by the FDIC shows an increase of 16.7% in 2006.
http://HomesInDurango.com / http://DurangoRealEstate.biz
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