Printer friendly version2nd Quarter 2006
La Plata County's Economic Indicators
Tourism
Quarter to Quarter – With the local tourist season beginning in quarter two, three of the four sectors of the tourist industry increased on a quarter to quarter basis. Ridership on the Durango & Silverton Narrow Gauge Railroad increased by 440.9%, visitors to Mesa Verde increased by 619.5%, enplanements at the Durango-La Plata County Airport decreased by 4.1% and lodger’s tax revenue (adjusted for inflation) increased by 70.3%.
Year to Year - On a year-to-year basis, ridership on the Railroad decreased by 0.9%, visits to Mesa Verde National Park increased by 31.1% over the second quarter of 2005, enplanements increased 10.4%, and lodger’s tax revenue (adjusted for inflation) increased on an annual basis by 17.5%.
Retailing
Quarter to Quarter - Retail sales, after adjustment for inflation, increased from the first quarter of 2006 to the second quarter of 2006 by 18.4%.
Year to Year – Comparing the second quarter of 2005 to the second quarter of 2006, retail sales, after adjustment for inflation, increased by 9.7%.
Employment
Quarter to Quarter - Employment in La Plata County is estimated by the Colorado Department of Labor and Employment. These estimates are subject to significant revisions. According to state estimates, employment in La Plata County in the second quarter of 2006 increased by 4.3% from the first quarter of 2006.
Year to Year – Employment decreased by 1.1% from year to year.
Agriculture
Quarter to Quarter - Calf prices, after adjustment for inflation, decreased 5.5% from the first quarter of 2006 to the second quarter of 2006, while alfalfa hay prices increased 15.6% during the same time frame.
Year to Year – On an annual basis, calf prices (adjusted for inflation) decreased 8.1%, while alfalfa hay prices decreased 0.2%.
Industrial Activity
Quarter to Quarter - Industrial kilowatt-hours used in La Plata County decreased by 1.1% from the first quarter of 2006 to the second quarter of 2006.
Year to Year – On an annual basis, industrial kilowatt-hours used increased by 0.8%. Most industrial usage of electricity in La Plata County is to compress natural gas for transmission through gas pipelines.
Population
Quarter to Quarter - The number of new residential electric meters in La Plata County increased by 0.3% from the first quarter of 2006 to the second quarter of 2006.
Year to Year – On an annual basis the number of new residential electric meters increased by 2.0%. The annual increase in the number of residential electric meters suggests that the population of La Plata County is continuing to grow. The population of La Plata County was estimated to be 46,229 in 2003 (the most recent number available from the Census Bureau).
Finance
Quarter to Quarter – We are no obtaining deposit information data from the Federal Deposit Insurance Corporation. Deposit information is not available on a quarter to quarter basis, but on a bi-annual basis.
Year to Year – On an annual basis, bank deposits increased by 11.6% from the first half of 2005 to the first half of 2006 (adjusted for inflation). Bank deposits are an important indicator of the economic health of the community as well as an indicator of the ability of local banks to make loans to consumers and business borrowers.
Fort Lewis College
Quarter to Quarter - Enrollment at Fort Lewis College decreased from the first quarter of 2006 to the second quarter of 2006 (from the winter term to the summer term) by 55.4%.
Year to Year - Enrollment on an annual basis decreased by 3.0%. The college stabilizes the local economy on a seasonal basis because most spending by students occurs during the September through April time frame while tourism activity peaks during the summer months.
Construction
Quarter to Quarter – Construction activity in
Year to Year – On a yearly basis, construction activity increased 2.7% (comparing quarter two of 2005 to quarter two of 2006).
Energy Prices
Quarter to Quarter - The federal government’s energy price index (adjusted for inflation) decreased by 8.6% from quarter to quarter.
Year to Year – On an annual basis the energy price index increased by 6%. Energy prices can be highly volatile from one quarter to the next. However, there has been an overall increase in energy prices since the beginning of 2002. Energy prices are very important to La Plata County because the county is a major producer of natural gas. Rents and royalties, as well as property tax revenues associated with natural gas production, are significant sources of income to La Plata County.
Real Estate
Quarter to Quarter – According to data obtained from the Durango Area Association of Realtors, the median price of country homes sold in La Plata County, after adjustment for inflation, decreased by 0.5% from the first quarter of 2006 to the second quarter of 2006.
Year to Year - The annual increase in the median price of country homes sold (adjusted for inflation – in 1990 dollars) in La Plata County was 14.1%, to a non-adjusted price of $345,250.000.
