Not all sour notes when it comes to the Lubbock economy - KCBD NewsChannel 11 Lubbock

4/10/09

Not all sour notes when it comes to the Lubbock economy

LUBBOCK, TX (KCBD) - Not all is sour in the Lubbock economy after a report by LEDA and Lubbock National bank.

The report showed this week that the local index of leading economic indicators had fallen.  But Thursday a ray of hope came from the office of Texas Comptroller. 

The sale tax remittance for April 2009 shows an increase of 8.79%  over the same monthly payment last year.  The state sales tax remittance to Lubbock increased 4.23% year-to-date. 
 
Meanwhile, there is another glimmer of hope for the Lubbock economy.  The new construction statistics from the city of Lubbock show that the taxable value of new single-family homes under construction went up from $12.3 million to $14.6 million when comparing March 2009 with March 2008. 
 
However, when considering all forms of construction permits including new commercial structures and major remodeling, the taxable value is down 28% comparing March 2009 with March 2008.

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