Edmond's growth outpacing nation; Economic report finds income tops Oklahoma and U.S.
BYLINE: Tricia Pemberton, Staff Writer
DATELINE: EDMOND
EDMOND - The Edmond Economic Development Authority this week released the 2007 Edmond Economic Abstract, a 14-page book detailing Edmond's economic profile.
"This information is critical to the EEDA's recruitment efforts and plays a significant role in a company's decision to expand their business into the Edmond market," Executive Director Janet Yowell said in a news release.
According to the book, the population of Edmond is 74,400, up 8.9 percent from 2000 census figures. The city outpaced growth in both the Oklahoma City metropolitan area and the United States.
The average household income level grew as well, up to $79,720 from $75,168 reported just a year ago. The figure is higher than averages in Oklahoma City, the state and the nation.
Edmond's cost of living, meanwhile, decreased in 2006 from 2005 levels, and the crime rate for the city is the lowest of any city in Oklahoma with a population of more than 10,000.
The abstract also gives highlights of housing and commercial markets in Edmond.
According to the book, the residential real estate market contributed $843 million to Edmond in 2006, with the average home price at $229,938. New residential construction totaled $171 million.
More than $13.8 million was invested in Edmond's office market in 2006, with more than 134,344 square feet of space.
The abstract shows that taxable sales in Edmond exceeded $1.1 billion in 2006, a 43.2 percent increase over the last five years.
Edmond's major employers are still Edmond Public Schools, the University of Central Oklahoma and the city of Edmond. Several Edmond companies expanded in 2006, including SSI Technologies, Adfitech and Petra Industries Inc.
The book also gives a glimpse of education in Edmond, including 2006 ACT and SAT scores, which show Edmond students outperformed both Oklahoma and the nation.
The economic abstract is published annually by the Edmond Economic Development Authority, and is used as a marketing tool for the city.
Copies are available at the Edmond Economic Development Authority, 825 E Second St., Suite 200 and online at http://www.eeda.com or call 340-0116.