Lubbock attracting new residents, businesses as economy grows - KCBD NewsChannel 11 Lubbock

Lubbock attracting new residents, businesses as economy grows

Source: KCBD Video Source: KCBD Video
Source: KCBD Video Source: KCBD Video
Source: KCBD Video Source: KCBD Video
Source: KCBD Video Source: KCBD Video
LUBBOCK, TX (KCBD) -

Lubbock is attracting new residents and new businesses, bringing the city some well-deserved attention nationwide.

New home permits helped drive the Lubbock economy in June.

That's according to the latest economic index, released on Wednesday by Lubbock National Bank.

The number of permits issued is up nearly 40 percent for June and up more than 10 percent for the year.

The number of homes sold in June almost hit 500, and the average sale price was more than $187,000.

That's 9 percent higher than the average for June of last year. Auto sales also increased in June compared to a year ago.

But, construction activity dropped off in June, falling by about 35 percent compared to last year.

However, the total number of building permits issued for the first half of the year is up by more than 15 percent compared to the same time last year.

Wednesday's economic index shows Lubbock just keeps growing.

But, how do people here in Lubbock feel about it?

The residents we spoke with, say they're excited for more growth.

Rochelle Scott moved here just four years ago from San Antonio.

She tells us even in her short four years here in Lubbock, she's seen many new companies open up shop.

"I think that it makes it more accessible for, especially for somebody like me that comes from a big city," she says. "Actually, it's very exciting and that means growth and that means that our community is doing well."

But, she isn't the only one who moved here from a big city.

Shannon Scott says he relocated to Lubbock six years ago from Atlanta.

"It makes me comfortable knowing that I've chosen a place and I live in a community that is always expanding and always growing," he says. "Adding new culture anywhere you go is always great. It just makes me happy to be in a place where my children can see growth."

He says it's exciting to know that there are more and more businesses opening up and he looks forward to enjoying them with his family.

Of course, West End has a few more projects in the works and a couple of hotels are opening up across town.

In South Lubbock, folks are saying hello to a brand new grocery store.

On Wednesday, Walmart Neighborhood Market opened its doors for the first time, providing another option for Lubbock residents.

The new store, approximately 42,000 square feet is located at 9809 University Ave., just near 98th Street.

Lubbock has been ranked the sixth best city in the country for folks in their 20s, according to Move.org.

This ranking factors in the unemployment rate, cost of living and commute times.

Lubbock ranked first in the commuting category on the list.

Lincoln, Nebraska earned the top overall spot.

Copyright 2016 KCBD. All rights reserved.

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