Thoughts from Bill Mears of Coldwell Banker Commercial Mcguire Mears & Associates -
The Rock Ready Index Documents Q1's Fast Start to the New Year
Despite challenging national indicators, the Janesville-Beloit MSA started 2024 in a strong economic position, as detailed in the Q1 2024 Rock Ready Index by the Rock County Development Alliance.
- Unemployment rates showed slight increases locally and statewide
- Labor demand still exceeds supply.
- Residential prices hit a Q1 record, average sale prices up over 10% from 2022
- New home starts 27% higher than last year.
- Sales and use tax collections up 7%
Despite mixed signals from economic indicators and global pressures, the local development pipeline remains robust. ).
A key project is the $50M Woodman’s Sports and Convention Center. This 140,000 (+/-) square foot, infill and adaptive reuse development along Janesville’s Milton Avenue corridor is the featured Q1 profile project. Q2 here we come!
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