File photo
File photo
New Braunfels received a boost for its economy from a federal government stimulus, annual economic benchmarks indicated.
More than a dozen data points are measured annually, revealing data that supports the conclusion that the stimulus helped, the New Braunfels Chamber of Commerce reported. Sales tax revenue rose 5% year to date in 2020. It also increased by 88% in the past decade.
Home values rose also by more than $9,600 (3.8%), the chamber reported. The city issued more than 2,000 single-family home permits, bringing the total of new home constructions above 11,500 since 2010.
In a single year, median household income rose 26.3%. In 2010 it was $52,296 and steadily rose to $81,131, the chamber reported.
Business utility meters kept up the 11-year pace of at least 155 new business meters in 2020. At the same time office space growth rose 13% with 164,464 square feet added in 2020.
Almost one-third of New Braunfels’ primary employers added jobs in 2020, with only 16% cutting jobs. Payroll Protection Program loans helped many of the local businesses, while the hospitality industry continued to feel the impact of the pandemic.
Alerts Sign-up