Printer friendly version3rd Quarter 2007
La Plata County's Economic Indicators
Tourism
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007, ridership on the Railroad (not including special events) decreased by 3.4%, visits to Mesa Verde National Park decreased by 3%, enplanements increased 0.1%, and lodger’s tax revenue (adjusted for inflation) increased by 2.6%.
Retailing
Year to Year (Quarter Comparison) – Retail sales data for the third quarter of 2007 are not yet available.
Employment
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007, employment in La Plata County increased by 8%. Industries which have seen growth over the past few years have been local government, construction and information.
Agriculture
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007, alfalfa hay prices, adjusted for inflation, increased by 19.2%, while calf prices, adjusted for inflation, decreased 7.6%.
Industrial Activity
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007, industrial kilowatt-hours used increased by 9.4%.
Population
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007, population (as measured by the number of new residential electric meters installed) in La Plata County increased by 2.5%.
Finance
Year to Year (Annual Comparison) – According to the Federal Deposit Insurance Corporation (FDIC), La Plata County’s banking deposits increased by 1.37% from June 2006 to June 2007 if we do not account for inflation (from $1,020,000,000 to $1,034,000,000). After adjusting for inflation, however, the deposits decreased by 1.32%. The FDIC information indicates that there are a total of 9 commercial banks in La Plata County with 19 branch offices.
Fort Lewis College
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007 (fall semester headcount) Fort Lewis College enrollment increased by 0.7%. This is the largest freshman class at the College since 2004.
Construction
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007, the value of building permits issued by La Plata County and the City of Durango increased by 48.8% (adjusted for inflation). Permit valuation can change dramatically from quarter to quarter due to a very large project being issued a permit during a specific month.
Energy Prices
Year to Year (Quarter Comparison) – Comparing the third quarter of 2006 to the third quarter of 2007, energy prices decreased by 3.5% (adjusted for inflation). Energy prices can be very volatile, changing drastically from one quarter to the next.
Real Estate
Year to Year (Quarter Comparison) - According to the Durango Area Association of Realtors, median residential real estate prices (country homes) in La Plata County increased from quarter three 2006 to quarter three 2007 by 8.5% (adjusted for inflation). Without adjusting for inflation, the price increased from $341,500 to $379,450 (an 11.1% increase). Breaking this down by area, quarter three median prices for country homes (not adjusted for inflation) decreased by 1.2% in Durango, but increased by 11.4% in Bayfield. The number of country homes sold in La Plata County in the third quarter of 2006 was 127. During the same time frame in 2007, the number of country homes sold decreased to 122. Most of this decrease came from the Durango area (84 homes sold in quarter three 2006 versus 68 homes sold during the same time in 2007). The Bayfield area, on the other hand, saw an increase in home sales from 25 in quarter three 2006 to 42 in quarter three 2007.
