Hub City economic boom - KLFY News 10

Hub City economic boom

Updated:

We have some good economic news to report for the Hub City, so far this year retail sales in Lafayette have reached around $4 billion, making it one of the best years on record.

With numbers like that it's no wonder there has been an influx of businesses locating in the Hub City. But is it too much too fast? One retailer says as long as there's constant communication between the city and the businesses, the growth should be positive.

Kiki Frayard, owner of Kiki in River Ranch, says there is a tipping point where too much can hurt an area especially if there is a duplication of services. But by bringing in more businesses people will be attracted to the area creating a shopping destination for many. Frayard says the more businesses that locate here will make other businesses, like hers, work a little harder but overall it's good for everyone.

According to recent numbers put out by Lafayette Economic Development Authority (LEDA) the average American spends 36 percent of their income on retail goods and services. In Lafayette that number is 62 percent making this area a magnet for new businesses.

 

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