O'Fallon's economy on the rebound; unemployment dropping - KMOV.com

O'Fallon's economy on the rebound; unemployment dropping

O’FALLON, Mo (KMOV.com) -- New details emerged Thursday on a bright spot in the St. Louis area economy. News 4 is learning more about a city that’s bucking the trend when it comes to economic indicators.

We pulled the numbers for unemployment, and permits for home improvement projects and found some pleasantly surprising news.

Entire subdivisions, put on hold when the economy dried up, are showing signs of life. Empty storefronts are filling up and families are putting money back into their homes.

The City of O’Fallon reports a significant spike in permits for home improvement projects-Investments like backyard pools, porches and finished basements.

Officials say if the city can continue at this rate it will end up about 40% higher than last year.

News 4 talked to several local contractors who say they see changes too. They say business is steady, though not stellar. But it’s going in the right direction.

O’Fallon’s unemployment rate is now 5.2 percent and dropping, down from 6.3 percent in December, slowly approaching the pre-recession mark of 4 percent.

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