Economic Development in Homer

One of the hats I wear is as a commissioner for Homer’s Economic Development Advisory Commission. About a month ago, I was given a copy of the Kenai Peninsula Borough Comprehensive Economic Development Strategy for 2016. It’s a fascinating document filled with all sorts of information about our community.

You can get your own copy at www.kpedd.org. I recommend it.

Here are some interesting facts:

  • In terms of cost of living, the Kenai Peninsula Borough gas some of the least expensive housing costs in the states.
  • Consumer goods, ranging from groceries to gasoline are more expensive than either Anchorage or the Mat-Su, but residents often save enough on housing to achieve a lower overall cost of living.
  • Healthcare and social assistance is the largest employment sector, followed by retail trade, accommodation and food service, agriculture (fisheries), construction and mining (oil and gas) according to US Census data.
  • The Kenai Peninsula Borough has high utility and grocery costs in comparison with the national and Anchorage averages. The average weekly cost of groceries for a family of 4 is $199.93.
  • Average House Price: $246,948
  • 45.3% of houses built on the Kenai Peninsula are built in Homer.
  • On average, housing cost inflation per year was about 3.5%, while average inflation on consumer goods during the same period was 2.5%. Home prices in the Borough increased 1.4 times faster than general prices.

I’ll add some more facts as I go through this fascinating document. I recommend you get yourself a copy – it sure brought light to some preconceived notions I had about the place I call home.

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