Biz Barometer
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Local
Economy Still Heading Up
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Pekin’s sales tax disbursement received from the state
in July was 6.9% greater than July of 2011.
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Pekin’s sales tax disbursements received from the state
for the last 3 months were 8.0% greater than the same three months in 2011.
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The other three large communities on the east die of
the Illinois River also showed increases.
East Peoria (+4.3%), Washington (+3.5%) and Morton (+0.2%) also showed
gains in July compared to July of 2011.
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For the 12-month period ending in July, all four
communities showed an increase in sales tax receipts from the state, compared
to the 12-months ending in July of 2011:
East Peoria (+11.3%), Washington (+3.5%), Pekin (+3.2%) and Morton
(+2.9%).
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The number of residential units sold in the 61554 zip
code for the first 6 months of 2012 is 2.4% greater than the first 6 months
of 2011.
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The other large Tazewell communities are showing even
larger increases in residential unit sales for the first six months of 2012,
compared to the first six months of 2011:
Washington (+41.4%), East Peoria (+36.4%), and Morton (+25.0%)
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The average sales price of residential units in the
61554 zip code for the first 6 months of 2012 is $109,475. That is 8.3%
greater than the average sales price for the first six months of 2011.
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The average sales price of residential units in the
other large Tazewell communities are also up compared to the first six months
of 2011: Morton (+11.1%), East Peoria
(+2.7%) and Washington (+0.8%)
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Nationally, non-farm payroll
employment continued to edge up in June (+80,000), and the unemployment rate
was unchanged at 8.2%
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Sources: Illinois Department
of Employment Security; Illinois Department of Revenue; Peoria Area
Association of Realtors; Bureau of Labor Statistics
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