With the third quarter of the year completed, the Boone Area Chamber of Commerce released its third Economic Indicators report of 2022.
This quarterly report examines five key statistics within the Watauga County & High Country Economy, featuring a summary of local impacts by Dr. Harry Davis, Appalachian State and North Carolina Bankers Association Professor and long-standing regional economist. The report also includes quick stats and commentary on local commercial real estate activity provided by James Milner, CCIM, Appalachian Commercial Real Estate.
VIEW THE Q3 ECONOMIC INDICATORS REPORT HERE
Data was compiled for residential home sales, net sales tax calculations, unemployment, occupancy tax collections, commercial real estate permit applications and transactions, and applications for permits of new single-family homes. These figures include the most recent data released for each category as well as historical data to help establish trends and further context toward the area’s economic stability.
"These numbers show that our economy remains resilient, despite the different factors that have made this a harder year to operate for many local businesses," said David Jackson, President/CEO of the Boone Area Chamber of Commerce. "The occupancy and sales tax data lets us know our eyes did not deceive us when it came to examining summer traffic. These numbers can also be further evidence that our business community remains dependent on volume, and addressing workforce development, housing, and core infrastructure issues in our community should be a top priority. Many of these metrics remained strong because of the hustle shown by businesses throughout the High Country. Employment issues and the impact of inflation have made this year harder than necessary. Investment in people -- and what helps them make a living and enjoy the highest quality of life possible -- will never be a bad strategy for Watauga County."
A review of data for Quarters 1 & 2 can be found here:
To contact Dr. Harry Davis for follow-up comments, please contact the Walker College of Business at Appalachian State University at 828-262-4030. For James Milner, email james@appalachiancre.com.
If you have questions for the chamber, contact us at 828-264-2225 or email david@boonechamber.com.
