Tuesday, March 04 2008
The 57th annual Parade of Homes 2008 will be held June 7th to June 15th, 2008. The first Parade of Homes was in 1951 with one home built by several Builder Association Members. This year, 50 builders will show case 63 homes and hope that one of their homes will receive a Parade Winner nomination.
This event will have direct economic benefits in the tune of $20,000,000.00 for the Tri-State area. The Parade of Homes will provide jobs, purchase of building materials and local fees, taxes and other contributions to the economy. A comprehensive study of The Metro Area Impact of Home Building in Vanderburgh and Warrick Counties by Elliot F. Eisenberg, Ph.D. in October of 2007 has come to the conclusion that for every 100 single family homes built, the first year impact to the local economy is $9,059,000.00 in local income, $473,000.00 in local taxes and 203 jobs of which 144 jobs are in Construction, 31 jobs in Wholesale & Retail Trade and 18 jobs in Business and Professional Services. This is in the construction phase alone.
The ripple effect in the first year is $4,041,000.00 in local income, $292,000.00 in local taxes and 94 additional jobs of which 22 jobs are in the Wholesale and Retail Trade, 12 jobs in Local Government and 12 jobs in Health, Education & Social Services. The ongoing annual effect is $2,565,000.00 in local income, $561,000 in local taxes and additional 65 local jobs of which 15 jobs are in the Wholesale and Retail Trade, 11 jobs in Local Government and 7 jobs in Health, Education & Social Services. The total impact in the first ten years is $37,468,000.00 in local income and $6,095,000.00 in local taxes. These are staggering numbers and the Tri-State can be proud of our local builders who add to the economy not only with the homes they build for the Parade of Homes but with all the homes that are built in a year. The complete study of Dr. Eisenberg can be accessed on line at: http://www.sibaonline.org/news-flashes/detail.tpl?ID=21.
We have been attending the Parade of Homes for many years and we hope to see you there this year as well. Please call me if you have any questions. You can reach me at