Business
Edmond’s 2nd quarter cost of living ranks well
EDMOND — Edmond’s second quarter cost of living index ranks 11 percent below the national average, according to the latest ACCRA Cost of Living Index by C2ER, the Council for Community and Economic Research.
With a second quarter 2008 index of 89, Edmond’s cost of living dropped 2.6 percent from the same period in 2007.
The study, containing results from second quarter 2008, measures relative price levels for consumer goods and services in participating areas. The average for all participating areas, both metropolitan and nonmetropolitan, equals 100. Each city’s index is read as a percentage of the average for all participating cities.
“By participating in the ACCRA Cost of Living Index, we can offer customized cost of living comparison data to assist companies in their decisions to locate here. This data has proved to be a valuable tool in our business recruitment efforts,” said Janet Yowell, executive director of the Edmond Economic Development Authority.
Consumer spending categories used in the study include grocery items, housing, utilities, transportation, healthcare and miscellaneous goods and services. Miscellaneous goods and services include items such as apparel, beauty supplies and services, recreational activities and entertainment.
Edmond ranked below the national average in all six categories: grocery items (85.4), housing (82.3), utilities (91.9), transportation (97.7), health care (95.4) and miscellaneous goods (91.9).
Compared to the 2007 second quarter index report of 98, Edmond experienced the greatest shift in miscellaneous goods, decreasing 6.1 percent.
Edmond joins more than 300 other cities, including 11 other Oklahoma cities, in this quarterly report.
Among the 318 urban areas participating in the second quarter 2008 ACCRA Cost of Living Index, the after-tax cost for a professional/managerial standard of living ranged from more than twice the national average in New York, N.Y. to almost 20 percent below the national average in Pryor Creek, Okla.
The ACCRA Cost of Living Index measures differences between areas in the cost of consumer goods and services, excluding taxes and nonconsumer expenditures, for professional and managerial households in the top income quintile. It is based on more than 50,000 prices covering almost 60 items for which prices are collected quarterly by chambers of commerce, economic development organizations, university applied economic centers, and other similar organizations in each participating urban area.
FOR MORE information about the ACCRA Cost of Living Index or to request a cost of living comparison between Edmond and more than 300 cities nationwide, call the Edmond Economic Development Authority at 340-0116 or visit www.eeda.com.
- Business
-
-
Sullivan urges homeowners ‘check homestead’
Oklahoma County Assessor Leonard Sullivan is urging county homeowners to review whether they are receiving all the tax breaks they are entitled to receive. Sullivan said potentially 50,000 homeowners are missing out on the homestead exemption.
-
Potential problems with home purchases
When it comes to buying or selling a home, it is wise to anticipate for some problems in almost every transaction. Anyone who tells you that their transactions never have any problems is not someone you should trust. Think about it; could you honestly make that promise about what you do to earn a living?
-
3-11 Business: in brief
Oklahoma Christian Academy partners for Flapjack Fundraiser at Applebee’s
The Apple Gold Group, franchisee of Applebee’s restaurants in North Carolina, Oklahoma and Arkansas, is proud to partner with Oklahoma Christian Academy to host a Flapjack Fundraiser on Saturday. All proceeds raised will directly go toward funding their Junior & Senior Class banquet. -
Rapid tax refund loan is no bargain to consumers
STILLWATER — With tax season now in full swing, many taxpayers are anticipating getting a refund.
Unfortunately, new figures indicate that some of the country’s most financially vulnerable taxpayers — those from low- and moderate-income families — lost about $800 million from their refunds last year. -
New overdraft rules set for debit and ATM cards
Beginning this summer, new rules set by the Federal Reserve will affect debit and ATM card users if they rely on overdrafts.
-
Beware of the flaws in modern portfolio theory
Hockey legend Wayne Gretzky famously said, “I don’t skate to where the puck is. I skate to where the puck is going to be.”
-
Green promoted to district manager with Waddell & Reed
Waddell & Reed recently announced that Nellie Green has been promoted to district manager with supervisory responsibilities in the Edmond/Oklahoma City area.
-
3-6 Business in Brief
Appliance rebate program begins April 22
-
3 options for upside-down homeowners
If you owe more on your home than it would bring in today’s housing market you may feel trapped with no options.
-
Local EXIT Realty offices invite residents to Webinar
Local EXIT Realty offices have just announced that the company will host two public Webinars designed to help consumers make smart decisions before they buy or sell a home. Local homebuyers and sellers are encouraged to tune in for the discussion.
- More Business Headlines
-
Sullivan urges homeowners ‘check homestead’
