Lubbock spending big as local economy stays strong - KCBD NewsChannel 11 Lubbock

Lubbock spending big as local economy stays strong


A report released by the state comptrollers office this week showed a nearly 12 percent increase in sales tax revenue for the city of Lubbock compared to this time last year, and that means Lubbock's economy is improving.

Joe Thacker is the owner and CEO of Thacker Jewelry, and the last three years of business have been exceptional.

"We're 12.3 percent increase in sales and we've seen that over the last three years, substantial increase," Thacker said. "In 2010 we saw a 17 percent jump, 27 percent in 2011 and like I said we're 12.3 percent this year."

Since the recession of 2009, spending in Lubbock has consistently increased.

Joe says people are buying for their future.

"Engagement rings are our bread and butter but we're seeing across the board we're seeing people buying everything and some of it's pent up demand and some we like to think is us," Thacker said.

But why has business been so good? The answer in Joe's mind is a type of gold you can't buy at his store.

"I think the oil boom has a major impact on our area," Thacker said. Also, "Lubbock is traditionally a conservative community and as a result we don't see those wild fluctuations."

Going forward, Joe is hopeful that the trend in spending will continue into 2013, but with the Christmas season coming up, things are only going to get better.      

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