Fayette County sees economic growth through 2012
January 2, 2013 by James
Fayetteville, and Fayette County as a whole, have seen a good previous year in terms of the economy. Recent figures have shown rises in both economic growth and jobs for the area.
The details, released last month, showed that year-to-year growth is strong. According to The Fayette County Economic Index (FCEI), the last year closed near 5% above its 2011 figure.
This is in part responsible for the number of people in work rising too. Across the county, more than 50,000 are now employed.
This is the highest figure since the recession first hit back in August 2008. With digital business cards and corporate stationery likely to be requested more frequently too, print companies here should be seeing the good news first hand.
The FCEI is seen as a strong indicator of where Fayetteville and the other towns in the county are economically, due to the number of factors worked into its findings.
As well as tracking data on employment rates, it also considers the number of building permits requested and local sales and hotel/motel taxes.
Confidence among consumers is also taken into consideration, while another set of information, the Index of Leading Economic Indicators, also helps form the data set.
Talking about the latest figures, the FCDA President and CEO Matt Forshee said:
“[They suggest] that the Fayette economy is on a sustainable path to economic recovery.”
Forshee went on to say that by combining both sets of figures, a far better economic picture can be captured for now, and for the future.