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September 2012 - Fauquier County

September 2012 - Fauquier County

Fauquier County Economic Indicators B. Historic Economic Indicators The following table displays trends and observations relative to historic economic indicators and how those observations may impact current economic indicators. Category Indicator Trend Comments Bankruptcy Filings Number of bankruptcy filings Businesses Number of new licenses issued Businesses Number of startup firms - Residential Housing Market Taxable Sales Foreclosures by loan type Taxable sales The number of bankruptcy filings for both business and nonbusiness filings has declined over the last 12 months. While the decline in the number of new licenses issuance lessened between FY 2010 and FY 2011, the decline heightened between FY 2011 and FY 2012. While activity in Summer 2011 slowed, it recovered to a normal level in the Fall. Foreclosures continue to remain at levels lower than the height of the recession for all loan types. No significant increases have been observed. Taxable sales continue a trend of slow, modest growth. The fourth quarter of FY 2012 showed signs of recovery and growth for business categorized as building and garden material suppliers with taxable sales reported at its highest level in four years. Office of Management and Budget Page 4

FFauquier IIII. Econ nomic Indica ators – Data a A. Thousands r County OOffice of Mana agement and Bu udget Current Economic E Indicators I Data D 1. Co ommunity Developmen D nt a) Comm munity Develo opment Fees The fir rst quarter of f FY 2013 mmaintains the relatively flaat trend in coommunity develop pment fee rev venue. Whilee no marked iimprovementts have been observed, the reve enue remains stable. $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $- b) Econom mic Indica ators Comm munity Develop D pment FFee Reveenue FY2008 FY2009 FY2010 FY20111 FY22012 FYY 2013 Buildin ng Permits Buildin ng permits have h experiennced growth in the first quarter of FFY 2013. Continu ued improvem ments throughhout the fiscaal year would be indicativee of a slow buildin ng and constru uction recoveery. New hommes constructtion continues to show signs of improvemen nts and stablee growth in thhe number of permits. Page 5

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