Monday, April 24, 2017
- by Mike Croxall, president, Home Builders Association of Greater Chattanooga
National New Homes Month, observed every April by area home builders, highlights the far-reaching positive impact of new residential construction on families, businesses and services throughout our Chattanooga-area community.
According to economists at the National Association of Home Builders, the one-year estimated local impacts of building 100 single-family homes in a typical metro area include $28.7 million in local income, $3.6 million in taxes and other local government revenue, and 394 local jobs.
But what does that economic impact mean in the real, day-to-day lives of community residents?
Just think about it. When a family moves to a community and buys a new house, they will likely shop at local stores to buy furniture and accessories to decorate the home. They will fill their cars gas tank at local gas stations so they can get to the stores, have local mechanics work on the car when it breaks down or needs the oil changed, or buy a new car at a local dealer when its time to replace the old one.
The family may need to hire local companies for regular services to maintain their home, such as ...