The Alliance has developed a Request for Information (RFI) form to help connect businesses and property owners together in an effort to help businesses find room to expand in La Plata County. Check out the article in the Durango Herald. To learn more please contact the Alliance.
How is the economy right now in Durango and La Plata County?
Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.
Local Economic Conditions
August 2018
Economic conditions in La Plata County from August 2014 to August 2018.
Summary
Improved (+)
9
No Change (o)
3
Declined (-)
7
Improved (Declined)
2
Current
Last Month
Last Year
Change
(vs Last Year)
Workforce
Labor Force
32,872
32,915
31,739
+
Unemployment Rate (%)
3.1
3.0
1.9
–
Labor Force Participation (%)
58.3
58.5
57.0
+
Job Openings
1,175
1,013
1,860
–
8
Construction & Housing
New Permits (to Date)
184
165
178
+
Value of Permits ($,000) (to Date)
95,184
86,181
87,927
+
Home Sales
561
470
565
o
Average Home Price ($)
480,586
469,427
433,419
+
Earnings Needed* ($)
84,800
82,600
70,500
–
8
Travel & Tourism
Enplanements
18,648
18,959
18,003
+
Lodgers Tax ($)
142,785
125,498
164,387
–
Train Visitors
14,001
16,088
25,383
–
8
Gas & Oil
New Permits (to date)
79
76
81
–
Production (mmcf)
24,179
21,032
24,223
o
8
Other
Sales Tax, Durango ($,000)**
1,487
1,551
1,548
–
Commercial Sales ($,000) (to date)
22,487
16,063
18,376
+
Foreclosures (to date)
32
32
36
+
Energy Use
Commercial (mwh)
58,867
58,859
55,282
+
Commercial Accounts
6,468
6,469
6,424
o
Notes:
*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.
**Sales tax for Durango includes Use Tax.
Sources:Employment: Colorado Department of Labor and US CensusConstruction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad Gas & Oil: Colorado Oil & Gas Conservation Commission Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures), and LPEA (Energy Use) (LPEA data is unaudited)
How is the economy right now in Durango and La Plata County?
Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.
Local Economic Conditions
July 2018
Economic conditions in Durango and La Plata County, July 2014-July 2018.
Summary
Improved (+)
9
No Change (o)
3
Declined (-)
7
Improved (Declined)
2
Current
Last Month
Last Year
Change
(vs Last Year)
Workforce
Labor Force
32,915
32,625
31,594
+
Unemployment Rate (%)
3.0
2.7
2.1
–
Labor Force Participation (%)
58.5
58.0
56.8
+
Job Openings
1,013
1,008
2,218
–
8
Construction & Housing
New Permits (to Date)
165
126
149
+
Value of Permits ($,000) (to Date)
86,181
66,560
73,818
+
Home Sales
470
384
476
o
Average Home Price ($)
469,427
476,687
433,349
+
Earnings Needed* ($)
82,600
84,300
71,300
–
8
Travel & Tourism
Enplanements
18,959
17,724
18,499
+
Lodgers Tax ($)
125,498
99,671
144,637
–
Train Visitors
16,088
1,465
36,542
–
8
Gas & Oil
New Permits (to date)
76
76
62
+
Production (mmcf)
24,823
23,728
24,633
o
8
Other
Sales Tax, Durango ($,000)**
1,551
1,432
1,620
–
Commercial Sales ($,000) (to date)
16,063
14,742
17,631
–
Foreclosures (to date)
32
32
36
+
Energy Use
Commercial (mwh)
58,859
54,896
55,789
+
Commercial Accounts
6,469
6,471
6,423
o
Notes:
*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.
**Sales tax for Durango includes Use Tax.
Sources:Employment: Colorado Department of Labor and US CensusConstruction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad Gas & Oil: Colorado Oil & Gas Conservation Commission Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures), and LPEA (Energy Use) (LPEA data is unaudited)
How is the economy right now in Durango and La Plata County?
Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.
Local Economic Conditions
June 2018
Economic conditions in La Plata County from June 2014 to June 2018.
Summary
Improved (+)
10
No Change (o)
4
Declined (-)
5
Improved (Declined)
5
Current
Last Month
Last Year
Change
(vs Last Year)
Workforce
Labor Force
32,625
32,245
32,619
o
Unemployment Rate (%)
2.7
2.1
2.1
–
Labor Force Participation (%)
58.0
57.4
58.7
o
Job Openings
1,008
881
1,729
–
8
Construction & Housing
New Permits (to Date)
126
98
115
+
Value of Permits ($,000) (to Date)
66,560
44,128
57,495
+
Home Sales
384
299
399
–
Average Home Price ($)
476,687
474,748
428,348
+
Earnings Needed* ($)
84,300
84,100
69,900
–
8
Travel & Tourism
Enplanements
17,724
15,449
16,896
+
Lodgers Tax ($)
99,671
59,335
91,575
+
Train Visitors
1,200
13,463
27,467
–
8
Gas & Oil
New Permits (to date)
76
66
56
+
Production (mmcf)
24,370
25,126
23,794
+
8
Other
Sales Tax, Durango ($,000)**
1,432
1,259
1,350
+
Commercial Sales ($,000) (to date)
17,298
13,698
17,298
o
Foreclosures (to date)
32
27
34
+
Energy Use
Commercial (mwh)
54,896
55,288
53,385
+
Commercial Accounts
6,471
6,470
6,426
o
Notes:
*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.
**Sales tax for Durango includes Use Tax.
Sources:Employment: Colorado Department of Labor and US CensusConstruction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad Gas & Oil: Colorado Oil & Gas Conservation Commission Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures), and LPEA (Energy Use) (LPEA data is unaudited)
How is the economy right now in Durango and La Plata County?
Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.
Local Economic Conditions
May 2018
Economic conditions in La Plata County from May 2014 to May 2018.
Summary
Improved (+)
11
No Change (o)
3
Declined (-)
5
Improved (Declined)
6
Current
Last Month
Last Year
Change
(vs Last Year)
Workforce
Labor Force
32,245
32,039
32,136
o
Unemployment Rate (%)
2.1
2.3
1.9
–
Labor Force Participation (%)
57.4
57.1
57.9
o
Job Openings
881
924
2,055
–
8
Construction & Housing
New Permits (to Date)
98
71
82
+
Value of Permits ($,000) (to Date)
44,128
31,095
35,843
+
Home Sales
299
209
310
–
Average Home Price ($)
474,748
486,673
426,968
+
Earnings Needed* ($)
84,100
85,000
70,600
–
8
Travel & Tourism
Enplanements
15,449
13,734
14,651
+
Lodgers Tax ($)
59,335
61,323
53,479
+
Train Visitors
13,463
3,737
12,536
+
8
Gas & Oil
New Permits (to date)
66
52
55
+
Production (mmcf)
25,426
23,948
24,766
+
8
Other
Sales Tax, Durango ($,000)**
1,259
1,363
1,158
+
Commercial Sales ($,000) (to date)
13,698
12,153
16,723
–
Foreclosures (to date)
27
19
29
+
Energy Use
Commercial (mwh)
55,288
52,775
53,401
+
Commercial Accounts
6,470
6,461
6,425
o
Notes:
*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.
**Sales tax for Durango includes Use Tax.
Sources:Employment: Colorado Department of Labor and US CensusConstruction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad Gas & Oil: Colorado Oil & Gas Conservation Commission Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures), and LPEA (Energy Use) (LPEA data is unaudited)
How is the economy right now in Durango and La Plata County?
Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.
Local Economic Conditions
April 2018
Economic conditions in La Plata County from April 2014 to April 2018.
Summary
Improved (+)
10
No Change (o)
4
Declined (-)
5
Improved (Declined)
5
Current
Last Month
Last Year
Change
(vs Last Year)
Workforce
Labor Force
32,039
31,381
31,589
o
Unemployment Rate (%)
2.4
2.9
1.9
–
Labor Force Participation (%)
57.1
56.0
56.9
o
Job Openings
924
881
1,863
–
8
Construction & Housing
New Permits (to Date)
71
52
55
+
Value of Permits ($,000) (to Date)
31,095
18,655
24,066
+
Home Sales
209
148
219
–
Average Home Price ($)
486,673
476,352
432,425
+
Earnings Needed* ($)
85,000
82,900
71,900
–
8
Travel & Tourism
Enplanements
13,734
15,201
12,370
+
Lodgers Tax ($)
61,323
42,056
55,983
+
Train Visitors
3,737
4,676
4,049
–
8
Gas & Oil
New Permits (to date)
52
47
47
+
Production (mmcf)
21,757
25,532
21,862
o
8
Other
Sales Tax, Durango ($,000)**
1,363
1,046
1,287
+
Commercial Sales ($,000) (to date)
12,153
11,673
7,040
+
Foreclosures (to date)
19
16
22
+
Energy Use
Commercial (mwh)
52,775
56,074
50,812
+
Commercial Accounts
6,461
6,415
6,420
o
Notes:
*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.
**Sales tax for Durango includes Use Tax.
Sources:Employment: Colorado Department of Labor and US CensusConstruction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad Gas & Oil: Colorado Oil & Gas Conservation Commission Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures), and LPEA (Energy Use) (LPEA data is unaudited)
How is the economy right now in Durango and La Plata County?
Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.
Local Economic Conditions
March 2018
Economic conditions in La Plata County from March 2014 to March 2018.
Summary
Improved (+)
10
No Change (o)
2
Declined (-)
7
Improved (Declined)
3
Current
Last Month
Last Year
Change
(vs Last Year)
Workforce
Labor Force
31,381
31,411
30,750
+
Unemployment Rate (%)
3.0
3.3
2.2
–
Labor Force Participation (%)
56.0
56.1
55.4
o
Job Openings
881
975
1,807
–
8
Construction & Housing
New Permits (to Date)
52
33
33
+
Value of Permits ($,000) (to Date)
18,655
10,836
12,002
+
Home Sales
148
91
158
–
Average Home Price ($)
476,352
467,440
415,063
+
Earnings Needed* ($)
82,900
80,300
69,600
–
8
Travel & Tourism
Enplanements
15,201
12,588
15,901
–
Lodgers Tax ($)
42,056
34,185
38,893
+
Train Visitors
4,676
1,856
4,397
+
8
Gas & Oil
New Permits (to date)
47
35
2
+
Production (mmcf)
23,010
22,887
23,940
–
8
Other
Sales Tax, Durango ($,000)**
1,046
1,142
1,068
–
Commercial Sales ($,000) (to date)
11,673
10,284
3,950
+
Foreclosures (to date)
16
10
19
+
Energy Use
Commercial (mwh)
56,074
53,890
52,718
+
Commercial Accounts
6,415
6,401
6,368
o
Notes:
*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.
**Sales tax for Durango includes Use Tax.
Sources:Employment: Colorado Department of Labor and US CensusConstruction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad Gas & Oil: Colorado Oil & Gas Conservation Commission Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures), and LPEA (Energy Use) (LPEA data is unaudited)
New ideas from around the world that could impact your business here in La Plata County! Brought to you by your La Plata County Economic Development Alliance
May 11, 2018
In the April 6th Across the Divide, we talked about Census data showing that mid-sized cities and suburbs were making a comeback.
It’s not just anyone that is driving that population growth though. Anecdotal and increasingly statistical data is suggesting millennials are powering this trend:
Author Patrick Sisson finds that millennials can “boomerang” to midsized cities under the right conditions. First, it is typically millennials who are “settling down” and either getting married or considering starting families. Second, the economics also have to work: generally, the communities need to be cheaper than the big cities; as well as afford good home ownership opportunities. Finally, there should also be better career opportunities available. The article also finds that an increasing number of tech jobs are locating to smaller cities. Other writers, such as Joel Kotkin at City Journal, have documented that there has been strong growth in professional service jobs within small cities which could also be creating opportunities.
Are millennials moving to La Plata County? Over the last 16 years, the 25-39 year old population has been growing, at best, at the same pace as the county overall. Usually it’s slower though. But in the City of Durango, the story is startlingly different:
In the 1990s, barely anyone between 25 and 39 years old moved to Durango. However, in the 2000’s growth in the 25 to 39 year old age group was almost two times faster than the city as a whole. So far this decade, growth in older millennials is three times as fast as the city overall.
Durango is not only offering more professional opportunities, but remote working is allowing talented young individuals to work from anywhere. It is getting harder to find couples in and around Durango where at least one of them isn’t working remotely. If we lack local opportunities, high speed internet is allowing many young professionals to fill the gap.
So, it seems like Durango at least is seeing the millennial boomlet that other small cities are experiencing. Will other areas in La Plata County benefit? Only time will tell!
-Roger Zalneraitis, Executive Director
If you come across an article on business, politics, or economics that can have an impact here in the Four Corners, send it over to info@yeslpc.com and we will give you a special thank you courtesy of the investors in the Economic Development Alliance!